Intercept Pharmaceuticals (NASDAQ:ICPT) Stock Price Down 5.8%


Share on StockTwits

Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT)’s share price dropped 5.8% on Tuesday . The company traded as low as $26.30 and last traded at $28.12. Approximately 1,560,618 shares changed hands during mid-day trading, an increase of 48% from the average daily volume of 1,057,392 shares. The stock had previously closed at $29.86.

ICPT has been the topic of a number of research analyst reports. SVB Leerink cut their target price on shares of Intercept Pharmaceuticals from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 10th. Wedbush cut their target price on shares of Intercept Pharmaceuticals from $116.00 to $106.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 19th. Canaccord Genuity raised their target price on shares of Intercept Pharmaceuticals from $42.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, November 11th. BMO Capital Markets cut their target price on shares of Intercept Pharmaceuticals from $56.00 to $38.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 10th. Finally, Chardan Capital cut their price target on shares of Intercept Pharmaceuticals from $105.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, November 10th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $54.75.

The stock has a market capitalization of $927.74 million, a P/E ratio of -3.05 and a beta of 1.85. The firm’s 50 day simple moving average is $31.86 and its two-hundred day simple moving average is $36.14.

In other news, CFO Sandip Kapadia sold 2,193 shares of the business’s stock in a transaction dated Tuesday, January 5th. The shares were sold at an average price of $24.47, for a total transaction of $53,662.71. Insiders own 23.70% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in shares of Intercept Pharmaceuticals by 46.7% during the fourth quarter. Principal Financial Group Inc. now owns 89,115 shares of the biopharmaceutical company’s stock worth $2,201,000 after acquiring an additional 28,379 shares in the last quarter. Voloridge Investment Management LLC increased its position in shares of Intercept Pharmaceuticals by 17.9% during the fourth quarter. Voloridge Investment Management LLC now owns 371,324 shares of the biopharmaceutical company’s stock worth $9,172,000 after acquiring an additional 56,485 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Intercept Pharmaceuticals by 56.2% during the fourth quarter. Canada Pension Plan Investment Board now owns 28,070 shares of the biopharmaceutical company’s stock worth $693,000 after acquiring an additional 10,100 shares in the last quarter. Walleye Capital LLC increased its position in shares of Intercept Pharmaceuticals by 177.2% during the fourth quarter. Walleye Capital LLC now owns 37,453 shares of the biopharmaceutical company’s stock worth $925,000 after acquiring an additional 23,943 shares in the last quarter. Finally, Davidson Kempner Capital Management LP purchased a new position in Intercept Pharmaceuticals during the fourth quarter worth about $4,021,000. 85.77% of the stock is owned by institutional investors.

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 in the United States, Europe, and Canada. Its lead products candidate is the Ocaliva, a farnesoid X receptor agonist used for the treatment of primary biliary cholangitis (PBC) in combination with ursodeoxycholic acid in adults.

Recommended Story: What is the Gross Domestic Product (GDP)?

Receive News & Ratings for Intercept Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercept Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.