Virtus ETF Advisers LLC lifted its stake in Intercept Pharmaceuticals Inc (NASDAQ:ICPT) by 42.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,180 shares of the biopharmaceutical company’s stock after buying an additional 3,042 shares during the period. Virtus ETF Advisers LLC’s holdings in Intercept Pharmaceuticals were worth $810,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the stock. Profund Advisors LLC boosted its stake in shares of Intercept Pharmaceuticals by 4.7% in the second quarter. Profund Advisors LLC now owns 6,399 shares of the biopharmaceutical company’s stock valued at $509,000 after buying an additional 285 shares during the period. Northern Trust Corp lifted its stake in Intercept Pharmaceuticals by 8.6% during the second quarter. Northern Trust Corp now owns 293,776 shares of the biopharmaceutical company’s stock worth $23,376,000 after purchasing an additional 23,309 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Intercept Pharmaceuticals by 29.1% during the second quarter. Canada Pension Plan Investment Board now owns 39,024 shares of the biopharmaceutical company’s stock worth $3,105,000 after purchasing an additional 8,800 shares during the last quarter. Water Island Capital LLC bought a new stake in Intercept Pharmaceuticals during the second quarter worth $481,000. Finally, Bank of New York Mellon Corp lifted its stake in Intercept Pharmaceuticals by 4.9% during the second quarter. Bank of New York Mellon Corp now owns 100,263 shares of the biopharmaceutical company’s stock worth $7,978,000 after purchasing an additional 4,707 shares during the last quarter. Institutional investors and hedge funds own 80.97% of the company’s stock.
ICPT has been the subject of several recent analyst reports. Royal Bank of Canada set a $135.00 target price on Intercept Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, September 6th. Raymond James set a $148.00 target price on Intercept Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 23rd. Stifel Nicolaus restated a “hold” rating and set a $86.00 target price on shares of Intercept Pharmaceuticals in a research note on Monday, August 12th. Wedbush set a $243.00 target price on Intercept Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, July 5th. Finally, Cantor Fitzgerald cut their target price on Intercept Pharmaceuticals from $191.00 to $186.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. Intercept Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $133.40.
In related news, Director Srinivas Akkaraju acquired 5,207 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was acquired at an average cost of $60.32 per share, for a total transaction of $314,086.24. Following the completion of the acquisition, the director now directly owns 21,526 shares of the company’s stock, valued at approximately $1,298,448.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lisa Bright sold 595 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $78.66, for a total value of $46,802.70. Following the completion of the sale, the insider now owns 20,452 shares of the company’s stock, valued at $1,608,754.32. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by corporate insiders.
Shares of NASDAQ:ICPT traded up $0.83 during trading on Friday, hitting $68.90. 816,252 shares of the company were exchanged, compared to its average volume of 427,716. The business’s 50 day moving average is $63.96 and its 200-day moving average is $84.05. The company has a quick ratio of 6.54, a current ratio of 6.54 and a debt-to-equity ratio of 3.11. Intercept Pharmaceuticals Inc has a 1-year low of $58.21 and a 1-year high of $133.74.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($2.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.51) by $0.23. The company had revenue of $66.30 million during the quarter, compared to the consensus estimate of $58.78 million. Intercept Pharmaceuticals had a negative net margin of 143.57% and a negative return on equity of 534.42%. The company’s revenue for the quarter was up 52.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.58) earnings per share. On average, equities analysts predict that Intercept Pharmaceuticals Inc will post -9.99 EPS for the current fiscal year.
Intercept Pharmaceuticals Company Profile
Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics to treat progressive non-viral liver diseases. It markets Ocaliva, an farnesoid X receptor agonist approved in the United States, the European Union, and other jurisdictions for the treatment of primary biliary cholangitis (PBC) in combination with ursodeoxycholic acid in adults.
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