Intercept Pharmaceuticals Inc (NASDAQ:ICPT) Given Consensus Recommendation of “Hold” by Brokerages

Intercept Pharmaceuticals Inc (NASDAQ:ICPT) has earned an average recommendation of “Hold” from the twenty-seven analysts that are presently covering the firm, MarketBeat Ratings reports. Nineteen research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $73.35.

ICPT has been the topic of a number of research reports. SVB Leerink lowered their price target on shares of Intercept Pharmaceuticals from $89.00 to $50.00 and set a “market perform” rating on the stock in a report on Tuesday, June 30th. Canaccord Genuity reissued a “hold” rating and set a $58.00 target price on shares of Intercept Pharmaceuticals in a report on Wednesday, August 12th. Oppenheimer reissued a “hold” rating and set a $54.00 target price on shares of Intercept Pharmaceuticals in a report on Tuesday, August 11th. Chardan Capital reissued a “buy” rating and set a $105.00 target price on shares of Intercept Pharmaceuticals in a report on Tuesday, August 11th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $57.00 target price on shares of Intercept Pharmaceuticals in a report on Tuesday, August 11th.

Shares of Intercept Pharmaceuticals stock traded down $0.56 during mid-day trading on Wednesday, hitting $39.09. 557,013 shares of the stock were exchanged, compared to its average volume of 757,261. Intercept Pharmaceuticals has a 12 month low of $38.96 and a 12 month high of $125.00. The company has a 50-day simple moving average of $46.70 and a 200 day simple moving average of $63.09. The company has a debt-to-equity ratio of 10.32, a quick ratio of 3.71 and a current ratio of 3.71. The company has a market capitalization of $1.29 billion, a P/E ratio of -3.77 and a beta of 1.62.

Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its earnings results on Monday, August 10th. The biopharmaceutical company reported ($1.92) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.94) by $1.02. Intercept Pharmaceuticals had a negative net margin of 119.73% and a negative return on equity of 1,973.10%. The firm had revenue of $77.60 million for the quarter, compared to analysts’ expectations of $72.45 million. During the same quarter last year, the firm earned ($2.28) EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Analysts predict that Intercept Pharmaceuticals will post -8.2 EPS for the current year.

In other news, Director Paolo Fundaro sold 54,600 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $50.55, for a total transaction of $2,760,030.00. Following the sale, the director now directly owns 21,028 shares in the company, valued at approximately $1,062,965.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder S.P.A. Genextra sold 1,362,400 shares of Intercept Pharmaceuticals stock in a transaction on Monday, August 17th. The shares were sold at an average price of $47.07, for a total transaction of $64,128,168.00. Following the completion of the sale, the insider now owns 5,417,000 shares in the company, valued at $254,978,190. The disclosure for this sale can be found here. Insiders have sold 1,501,192 shares of company stock valued at $71,310,546 in the last ninety days. Insiders own 23.70% of the company’s stock.

Several large investors have recently modified their holdings of ICPT. Schonfeld Strategic Advisors LLC purchased a new stake in Intercept Pharmaceuticals in the 2nd quarter valued at about $800,000. Principal Financial Group Inc. raised its stake in shares of Intercept Pharmaceuticals by 383.4% during the 2nd quarter. Principal Financial Group Inc. now owns 40,000 shares of the biopharmaceutical company’s stock worth $1,916,000 after acquiring an additional 31,725 shares in the last quarter. Handelsbanken Fonder AB bought a new position in shares of Intercept Pharmaceuticals during the 2nd quarter worth approximately $228,000. Phocas Financial Corp. grew its position in Intercept Pharmaceuticals by 67.9% during the 2nd quarter. Phocas Financial Corp. now owns 29,217 shares of the biopharmaceutical company’s stock worth $1,399,000 after purchasing an additional 11,815 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Intercept Pharmaceuticals by 21.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 203,903 shares of the biopharmaceutical company’s stock worth $9,769,000 after purchasing an additional 36,086 shares during the last quarter. 80.78% of the stock is owned by institutional investors and hedge funds.

About Intercept Pharmaceuticals

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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Analyst Recommendations for Intercept Pharmaceuticals (NASDAQ:ICPT)

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