Canaccord Genuity began coverage on shares of Intercept Pharmaceuticals (NASDAQ:ICPT) in a research note issued to investors on Monday, The Fly reports. The firm issued a buy rating on the biopharmaceutical company’s stock.
Other research analysts have also recently issued research reports about the company. Wedbush reiterated a buy rating and issued a $243.00 target price on shares of Intercept Pharmaceuticals in a report on Tuesday, November 5th. Robert W. Baird reiterated a buy rating and issued a $227.00 target price on shares of Intercept Pharmaceuticals in a report on Monday, November 25th. Needham & Company LLC reiterated a buy rating and issued a $150.00 target price on shares of Intercept Pharmaceuticals in a report on Tuesday, November 5th. Cantor Fitzgerald reduced their target price on Intercept Pharmaceuticals from $191.00 to $186.00 and set an overweight rating on the stock in a report on Thursday, August 8th. Finally, Jefferies Financial Group set a $125.00 target price on Intercept Pharmaceuticals and gave the company a buy rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Intercept Pharmaceuticals currently has a consensus rating of Buy and a consensus price target of $133.10.
Shares of Intercept Pharmaceuticals stock opened at $112.30 on Monday. Intercept Pharmaceuticals has a twelve month low of $56.76 and a twelve month high of $131.87. The stock has a market capitalization of $3.55 billion, a P/E ratio of -10.34 and a beta of 1.44. The company has a current ratio of 5.49, a quick ratio of 5.49 and a debt-to-equity ratio of 4.02. The business’s fifty day moving average price is $80.81 and its 200 day moving average price is $73.96.
Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($2.59) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.35) by ($0.24). Intercept Pharmaceuticals had a negative net margin of 143.09% and a negative return on equity of 495.47%. The firm had revenue of $61.95 million during the quarter, compared to analyst estimates of $63.89 million. During the same quarter in the previous year, the business posted ($2.18) EPS. Intercept Pharmaceuticals’s revenue was up 31.8% compared to the same quarter last year. As a group, sell-side analysts predict that Intercept Pharmaceuticals will post -10.11 EPS for the current year.
In other Intercept Pharmaceuticals news, EVP Christian Weyer sold 4,373 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $100.00, for a total transaction of $437,300.00. Following the transaction, the executive vice president now owns 17,509 shares in the company, valued at $1,750,900. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark Pruzanski sold 35,437 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $100.00, for a total value of $3,543,700.00. Following the transaction, the chief executive officer now owns 469,165 shares in the company, valued at approximately $46,916,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,413 shares of company stock worth $5,373,435. 5.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co NY increased its position in shares of Intercept Pharmaceuticals by 13.2% during the third quarter. Metropolitan Life Insurance Co NY now owns 8,113 shares of the biopharmaceutical company’s stock worth $538,000 after acquiring an additional 943 shares during the last quarter. Man Group plc increased its position in shares of Intercept Pharmaceuticals by 396.2% during the third quarter. Man Group plc now owns 35,688 shares of the biopharmaceutical company’s stock worth $2,368,000 after acquiring an additional 28,496 shares during the last quarter. Orbimed Advisors LLC purchased a new stake in shares of Intercept Pharmaceuticals during the third quarter worth about $2,137,000. Squarepoint Ops LLC purchased a new stake in shares of Intercept Pharmaceuticals during the third quarter worth about $1,193,000. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Intercept Pharmaceuticals during the third quarter worth about $225,000. Institutional investors own 79.67% of the company’s stock.
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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