Intercept Pharmaceuticals (NASDAQ:ICPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “Intercept is facing challenges with its lead drug Ocaliva. Prescription demand has softened following the Dear Health Care Provider letter and the FDA safety communication on Ocaliva. Recently, some deaths have been reported in PBC patients with moderate or severe hepatic impairment (Child Pugh B or C cirrhosis). However, Intercept conducted an analysis and concluded that these patients were prescribed once daily doses of Ocaliva, which is seven times higher than the recommended weekly dose. The company concluded that deaths occurred due to overdosing. Consequently, Intercept issued the Dear Healthcare Provider letter. Thereafter, the FDA issued their own safety communication to reinforce recommended label dosing. Shares have underperformed the industry in the last six months. Meanwhile, Intercept is evaluating Ocaliva for other indications including NASH and PSC.A label expansion will bode well.”
A number of other equities research analysts also recently weighed in on ICPT. Wells Fargo & Co reaffirmed an “outperform” rating on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 13th. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $69.00 price objective on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 13th. Jefferies Group reaffirmed a “buy” rating and set a $275.00 price objective on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 13th. Robert W. Baird reaffirmed an “outperform” rating and set a $332.00 price objective on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 13th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $221.00 price objective on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 13th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company’s stock. Intercept Pharmaceuticals has an average rating of “Hold” and a consensus price target of $140.24.
Shares of Intercept Pharmaceuticals (NASDAQ:ICPT) traded up $0.64 during mid-day trading on Tuesday, reaching $54.95. The company had a trading volume of 516,710 shares, compared to its average volume of 707,831. Intercept Pharmaceuticals has a 12 month low of $52.11 and a 12 month high of $135.59. The company has a market capitalization of $1,380.00, a P/E ratio of -3.71 and a beta of -2.05. The company has a debt-to-equity ratio of 3.15, a quick ratio of 5.95 and a current ratio of 5.95.
Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($2.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.48) by $0.59. Intercept Pharmaceuticals had a negative return on equity of 176.51% and a negative net margin of 344.74%. The company had revenue of $41.33 million for the quarter, compared to the consensus estimate of $36.95 million. During the same quarter last year, the company earned ($3.59) earnings per share. The firm’s revenue for the quarter was up 697.9% compared to the same quarter last year. sell-side analysts predict that Intercept Pharmaceuticals will post -13.36 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in Intercept Pharmaceuticals by 0.7% in the second quarter. FMR LLC now owns 3,750,678 shares of the biopharmaceutical company’s stock valued at $454,094,000 after buying an additional 25,958 shares during the last quarter. Carmignac Gestion raised its stake in Intercept Pharmaceuticals by 0.4% in the second quarter. Carmignac Gestion now owns 2,035,592 shares of the biopharmaceutical company’s stock valued at $246,449,000 after buying an additional 7,400 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Intercept Pharmaceuticals by 4.5% in the second quarter. Vanguard Group Inc. now owns 1,328,133 shares of the biopharmaceutical company’s stock worth $160,797,000 after purchasing an additional 57,149 shares during the last quarter. Senvest Management LLC purchased a new position in shares of Intercept Pharmaceuticals in the third quarter worth about $33,883,000. Finally, First Trust Advisors LP raised its stake in shares of Intercept Pharmaceuticals by 4.5% in the third quarter. First Trust Advisors LP now owns 300,455 shares of the biopharmaceutical company’s stock worth $17,438,000 after purchasing an additional 13,044 shares during the last quarter. Institutional investors own 73.76% of the company’s stock.
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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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