Intercept Pharmaceuticals’ (ICPT) “Outperform” Rating Reaffirmed at Wedbush

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Intercept Pharmaceuticals Inc. (NASDAQ:ICPT)‘s stock had its “outperform” rating restated by Wedbush in a report issued on Friday. They currently have a $239.00 price objective on the biopharmaceutical company’s stock. Wedbush’s price objective would suggest a potential upside of 56.29% from the stock’s current price.
Other equities research analysts have also issued reports about the company. BMO Capital Markets restated a “buy” rating and set a $219.00 price objective (down from $221.00) on shares of Intercept Pharmaceuticals in a research report on Tuesday, May 31st. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Intercept Pharmaceuticals in a research report on Wednesday, June 1st. Barclays PLC restated a “buy” rating and set a $205.00 price objective (up from $200.00) on shares of Intercept Pharmaceuticals in a research report on Wednesday, June 1st. Credit Suisse Group AG restated a “buy” rating and set a $200.00 price objective on shares of Intercept Pharmaceuticals in a research report on Tuesday, May 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $350.00 price target on shares of Intercept Pharmaceuticals in a report on Friday, May 20th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $177.67.
Intercept Pharmaceuticals (NASDAQ:ICPT) opened at 152.92 on Friday. The stock’s market capitalization is $3.78 billion. Intercept Pharmaceuticals has a 1-year low of $89.76 and a 1-year high of $217.99. The stock’s 50 day moving average price is $158.76 and its 200 day moving average price is $145.86.

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Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($3.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($3.69) by $0.55. Intercept Pharmaceuticals had a negative return on equity of 50.58% and a negative net margin of 5,003.95%. The firm earned $5.52 million during the quarter, compared to analyst estimates of $1.72 million. During the same period last year, the company posted ($1.99) EPS. The business’s quarterly revenue was up 1140.4% compared to the same quarter last year. Equities research analysts forecast that Intercept Pharmaceuticals will post ($16.31) earnings per share for the current year.
In other news, CEO Mark Pruzanski sold 714 shares of Intercept Pharmaceuticals stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $145.11, for a total transaction of $103,608.54. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lisa Bright sold 246 shares of Intercept Pharmaceuticals stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $159.00, for a total value of $39,114.00. Following the sale, the insider now directly owns 18,460 shares in the company, valued at approximately $2,935,140. The disclosure for this sale can be found here. Insiders own 9.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. CENTRAL TRUST Co purchased a new stake in shares of Intercept Pharmaceuticals during the second quarter valued at $107,000. Legal & General Group Plc raised its stake in shares of Intercept Pharmaceuticals by 15.8% in the first quarter. Legal & General Group Plc now owns 1,144 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 156 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Intercept Pharmaceuticals by 3.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 1,234 shares of the biopharmaceutical company’s stock valued at $176,000 after buying an additional 38 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Intercept Pharmaceuticals during the second quarter valued at $180,000. Finally, IBM Retirement Fund raised its stake in shares of Intercept Pharmaceuticals by 3.6% in the second quarter. IBM Retirement Fund now owns 1,657 shares of the biopharmaceutical company’s stock valued at $236,000 after buying an additional 58 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.
Intercept Pharmaceuticals Company Profile
Intercept Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat non-viral, progressive liver diseases. The Company’s product candidates have the potential to treat orphan and more prevalent diseases for which there are limited therapeutic solutions.

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