Intercept Pharmaceuticals Inc Forecasted to Post FY2023 Earnings of $35.17 Per Share (NASDAQ:ICPT)

Intercept Pharmaceuticals Inc (NASDAQ:ICPT) – Equities research analysts at Wedbush lifted their FY2023 earnings per share (EPS) estimates for Intercept Pharmaceuticals in a report released on Monday, August 12th. Wedbush analyst L. Moussatos now forecasts that the biopharmaceutical company will earn $35.17 per share for the year, up from their prior forecast of $34.79. Wedbush has a “Buy” rating and a $243.00 price target on the stock.

Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($2.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.51) by $0.23. The company had revenue of $66.30 million for the quarter, compared to the consensus estimate of $58.78 million. Intercept Pharmaceuticals had a negative return on equity of 1,572.61% and a negative net margin of 143.57%. The firm’s revenue was up 52.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($2.58) EPS.

A number of other analysts have also commented on the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $86.00 target price on shares of Intercept Pharmaceuticals in a research report on Monday. Royal Bank of Canada reaffirmed a “buy” rating and issued a $135.00 target price on shares of Intercept Pharmaceuticals in a research report on Thursday, August 8th. Zacks Investment Research raised Intercept Pharmaceuticals from a “sell” rating to a “hold” rating and set a $73.00 target price for the company in a research report on Monday, July 15th. BidaskClub raised Intercept Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, August 9th. Finally, Cowen reaffirmed a “buy” rating and issued a $149.00 target price on shares of Intercept Pharmaceuticals in a research report on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $138.86.

Shares of NASDAQ:ICPT opened at $64.64 on Wednesday. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -5.95 and a beta of 1.32. The company has a debt-to-equity ratio of 19.41, a current ratio of 3.72 and a quick ratio of 3.72. The business’s 50-day moving average is $69.81 and its 200-day moving average is $90.38. Intercept Pharmaceuticals has a 1 year low of $58.21 and a 1 year high of $133.74.

Several hedge funds have recently added to or reduced their stakes in the company. Hanseatic Management Services Inc. grew its holdings in shares of Intercept Pharmaceuticals by 12.1% in the first quarter. Hanseatic Management Services Inc. now owns 2,077 shares of the biopharmaceutical company’s stock valued at $232,000 after acquiring an additional 224 shares in the last quarter. Profund Advisors LLC grew its holdings in shares of Intercept Pharmaceuticals by 4.7% in the second quarter. Profund Advisors LLC now owns 6,399 shares of the biopharmaceutical company’s stock valued at $509,000 after acquiring an additional 285 shares in the last quarter. Financial Gravity Wealth Inc. bought a new position in shares of Intercept Pharmaceuticals in the first quarter valued at approximately $33,000. Prudential Financial Inc. grew its holdings in shares of Intercept Pharmaceuticals by 14.2% in the second quarter. Prudential Financial Inc. now owns 2,660 shares of the biopharmaceutical company’s stock valued at $212,000 after acquiring an additional 330 shares in the last quarter. Finally, TD Asset Management Inc. grew its holdings in shares of Intercept Pharmaceuticals by 3.7% in the second quarter. TD Asset Management Inc. now owns 9,537 shares of the biopharmaceutical company’s stock valued at $759,000 after acquiring an additional 337 shares in the last quarter. 77.24% of the stock is owned by institutional investors.

In other news, insider Lisa Bright sold 595 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $78.66, for a total value of $46,802.70. Following the completion of the transaction, 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.00% 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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Earnings History and Estimates for Intercept Pharmaceuticals (NASDAQ:ICPT)

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