Zacks Investment Research Upgrades Intercept Pharmaceuticals (NASDAQ:ICPT) to “Hold”

Intercept Pharmaceuticals (NASDAQ:ICPT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday, February 19th.

According to Zacks, “Intercept’s fourth-quarter results missed expectations as sales of Ocaliva declined due to safety issues surrounding the drug. The approval of Ocaliva was a significant boost for Intercept. However, prescription demand has softened following the Dear Health Care Provider letter and the FDA safety communication on Ocaliva. The company also announced an updated label for Ocaliva in the United States, reinforcing appropriate dosing in PBC patients with Child-P Class B or C or decompensated cirrhosis. While the updated label should help the stock turn around, it might be a while before the sales start to recover. First-quarter is expected to be a transitional quarter. Meanwhile, Intercept is evaluating Ocaliva for other indications including NASH and PSC. Given the challenges faced by the drug in recent times, the label expansion of OCA will boost the growth prospects. Shares have underperformed the industry in the last six months.”

Several other equities research analysts have also recently weighed in on the stock. BidaskClub upgraded shares of Intercept Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, February 17th. BMO Capital Markets increased their price objective on shares of Intercept Pharmaceuticals from $152.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Oppenheimer restated a “hold” rating on shares of Intercept Pharmaceuticals in a report on Thursday, February 15th. Cantor Fitzgerald set a $58.00 price target on shares of Intercept Pharmaceuticals and gave the stock a “hold” rating in a report on Wednesday, February 14th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $57.00 price target (down from $62.00) on shares of Intercept Pharmaceuticals in a report on Tuesday, February 13th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $128.75.

Intercept Pharmaceuticals (ICPT) traded down $0.19 on Monday, hitting $66.11. 474,801 shares of the stock traded hands, compared to its average volume of 918,584. Intercept Pharmaceuticals has a 52 week low of $51.05 and a 52 week high of $135.59. The company has a debt-to-equity ratio of 21.71, a quick ratio of 4.31 and a current ratio of 4.31. The firm has a market capitalization of $1,660.00, a PE ratio of -4.60 and a beta of -1.92.

Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($4.43) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.39) by ($1.04). Intercept Pharmaceuticals had a negative return on equity of 267.95% and a negative net margin of 275.18%. The firm had revenue of $37.69 million for the quarter, compared to analyst estimates of $39.01 million. During the same quarter last year, the company earned ($4.84) earnings per share. The company’s quarterly revenue was up 173.1% compared to the same quarter last year. equities research analysts anticipate that Intercept Pharmaceuticals will post -12.6 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in ICPT. Senvest Management LLC bought a new position in shares of Intercept Pharmaceuticals in the third quarter valued at $33,883,000. First Trust Advisors LP lifted its stake in shares of Intercept Pharmaceuticals by 101.5% in the fourth quarter. First Trust Advisors LP now owns 605,454 shares of the biopharmaceutical company’s stock valued at $35,371,000 after buying an additional 304,999 shares in the last quarter. Pinnacle Associates Ltd. bought a new position in shares of Intercept Pharmaceuticals in the fourth quarter valued at $12,577,000. Sarissa Capital Management LP bought a new position in shares of Intercept Pharmaceuticals in the fourth quarter valued at $10,649,000. Finally, Emerald Advisers Inc. PA bought a new position in shares of Intercept Pharmaceuticals in the fourth quarter valued at $9,497,000. 74.33% of the stock is currently owned by hedge funds and other institutional investors.

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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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