Intercept Pharmaceuticals Inc (NASDAQ:ICPT)’s share price dropped 6.6% during mid-day trading on Thursday . The company traded as low as $62.79 and last traded at $62.98, approximately 578,438 shares traded hands during trading. A decline of 30% from the average daily volume of 828,751 shares. The stock had previously closed at $67.46.
ICPT has been the subject of a number of analyst reports. Cantor Fitzgerald reduced their target price on shares of Intercept Pharmaceuticals from $191.00 to $186.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. BidaskClub raised shares of Intercept Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, August 9th. B. Riley reissued a “buy” rating and set a $169.00 target price on shares of Intercept Pharmaceuticals in a research note on Wednesday, May 8th. Wedbush set a $243.00 target price on shares of Intercept Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, July 5th. Finally, Oppenheimer reduced their target price on shares of Intercept Pharmaceuticals from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Three 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’s stock. The stock has an average rating of “Buy” and a consensus price target of $138.86.
The business’s 50 day moving average price is $67.81 and its two-hundred day moving average price is $89.08. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -5.80 and a beta of 1.32. The company has a debt-to-equity ratio of 3.11, a quick ratio of 6.54 and a current ratio of 6.54.
Intercept Pharmaceuticals (NASDAQ:ICPT) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($2.28) EPS for the quarter, beating the consensus estimate of ($2.51) by $0.23. Intercept Pharmaceuticals had a negative net margin of 143.57% and a negative return on equity of 534.42%. The business had revenue of $66.30 million during the quarter, compared to analyst estimates of $58.78 million. During the same period in the prior year, the business earned ($2.58) earnings per share. The business’s quarterly revenue was up 52.2% on a year-over-year basis. On average, sell-side analysts expect that Intercept Pharmaceuticals Inc will post -9.99 earnings per share for the current year.
In related news, insider Lisa Bright sold 595 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $78.66, for a total transaction of $46,802.70. Following the completion of the sale, the insider now directly owns 20,452 shares of the company’s stock, valued at $1,608,754.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in ICPT. Vanguard Group Inc. lifted its stake in Intercept Pharmaceuticals by 14.5% during the second quarter. Vanguard Group Inc. now owns 2,337,622 shares of the biopharmaceutical company’s stock valued at $186,005,000 after purchasing an additional 295,674 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Intercept Pharmaceuticals by 21.2% during the 2nd quarter. First Trust Advisors LP now owns 1,093,108 shares of the biopharmaceutical company’s stock worth $86,979,000 after purchasing an additional 191,132 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Intercept Pharmaceuticals during the 1st quarter worth $20,777,000. Emerald Advisers LLC bought a new stake in shares of Intercept Pharmaceuticals during the 1st quarter worth $13,515,000. Finally, Samsara BioCapital LLC boosted its holdings in shares of Intercept Pharmaceuticals by 56.8% during the 2nd quarter. Samsara BioCapital LLC now owns 330,697 shares of the biopharmaceutical company’s stock worth $26,314,000 after buying an additional 119,760 shares during the period. 74.69% of the stock is owned by institutional investors and hedge funds.
About Intercept Pharmaceuticals (NASDAQ:ICPT)
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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