Intercept Pharmaceuticals Inc (ICPT) Major Shareholder Sells $78,802,500.00 in Stock

Intercept Pharmaceuticals Inc (NASDAQ:ICPT) major shareholder S.P.A. Genextra sold 750,000 shares of the business’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $105.07, for a total value of $78,802,500.00. Following the transaction, the insider now owns 6,095,578 shares in the company, valued at approximately $640,462,380.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Shares of Intercept Pharmaceuticals stock opened at $105.92 on Thursday. The company has a debt-to-equity ratio of 3.83, a current ratio of 5.98 and a quick ratio of 5.98. The stock has a market capitalization of $3.29 billion, a P/E ratio of -7.37 and a beta of -1.03. Intercept Pharmaceuticals Inc has a fifty-two week low of $51.05 and a fifty-two week high of $133.74.

Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings data on Wednesday, October 31st. The biopharmaceutical company reported ($2.18) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.65) by $0.47. The firm had revenue of $47.00 million during the quarter, compared to analyst estimates of $48.24 million. Intercept Pharmaceuticals had a negative return on equity of 645.54% and a negative net margin of 202.93%. Intercept Pharmaceuticals’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned ($2.89) earnings per share. Equities research analysts anticipate that Intercept Pharmaceuticals Inc will post -10.35 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on ICPT shares. BidaskClub raised Intercept Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 2nd. ValuEngine raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, September 13th. Zacks Investment Research raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a research report on Tuesday, November 13th. Roth Capital started coverage on Intercept Pharmaceuticals in a research report on Wednesday, September 12th. They set a “buy” rating and a $192.00 target price on the stock. Finally, Raymond James lowered Intercept Pharmaceuticals from a “strong-buy” rating to an “outperform” rating and lifted their target price for the stock from $126.00 to $141.00 in a research report on Tuesday, October 2nd. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $148.25.

Institutional investors have recently made changes to their positions in the stock. State of Wisconsin Investment Board increased its holdings in Intercept Pharmaceuticals by 95.9% in the second quarter. State of Wisconsin Investment Board now owns 22,700 shares of the biopharmaceutical company’s stock valued at $1,905,000 after buying an additional 11,111 shares during the last quarter. FMR LLC increased its holdings in Intercept Pharmaceuticals by 17.5% in the second quarter. FMR LLC now owns 4,437,332 shares of the biopharmaceutical company’s stock valued at $372,336,000 after buying an additional 661,542 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Intercept Pharmaceuticals by 104.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 110,805 shares of the biopharmaceutical company’s stock valued at $9,298,000 after buying an additional 56,556 shares during the last quarter. Asymmetry Capital Management L.P. bought a new stake in Intercept Pharmaceuticals in the second quarter valued at about $2,175,000. Finally, Rhumbline Advisers increased its holdings in Intercept Pharmaceuticals by 11.5% in the second quarter. Rhumbline Advisers now owns 21,153 shares of the biopharmaceutical company’s stock valued at $1,775,000 after buying an additional 2,181 shares during the last quarter. 63.62% of the stock is owned by hedge funds and other institutional investors.

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Intercept Pharmaceuticals Company Profile

Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics in the United States, Europe, and Canada. Its lead product candidate is obeticholic acid (OCA), a bile acid analog, which has a structure based on a naturally occurring human bile acid that selectively binds to and activates the farnesoid X receptor (FXR).

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