Intercept Pharmaceuticals (NASDAQ:ICPT) was downgraded by Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. They presently have a $60.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $150.00. Goldman Sachs Group’s price target points to a potential upside of 25.23% from the stock’s current price.
Several other equities analysts also recently weighed in on ICPT. Stifel Nicolaus dropped their price objective on Intercept Pharmaceuticals from $100.00 to $99.00 and set a “hold” rating for the company in a research note on Tuesday, May 12th. Raymond James cut Intercept Pharmaceuticals from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $145.00 to $115.00 in a report on Friday, May 22nd. Oppenheimer cut Intercept Pharmaceuticals from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $124.00 to $46.00 in a report on Monday. Chardan Capital restated a “buy” rating and set a $145.00 price objective on shares of Intercept Pharmaceuticals in a research note on Tuesday, May 12th. Finally, Bank of America assumed coverage on Intercept Pharmaceuticals in a research note on Thursday, March 5th. They set a “neutral” rating and a $111.00 price objective on the stock. Eighteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $81.48.
NASDAQ ICPT opened at $47.91 on Monday. Intercept Pharmaceuticals has a 1-year low of $44.50 and a 1-year high of $125.00. The company has a market capitalization of $2.55 billion, a P/E ratio of -4.47 and a beta of 1.82. The business has a 50 day moving average price of $78.84 and a 200 day moving average price of $88.09. The company has a debt-to-equity ratio of 10.32, a current ratio of 4.19 and a quick ratio of 4.19.
Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings data on Monday, May 11th. The biopharmaceutical company reported ($2.86) earnings per share for the quarter, beating the consensus estimate of ($2.94) by $0.08. Intercept Pharmaceuticals had a negative return on equity of 430.51% and a negative net margin of 127.53%. The firm had revenue of $72.60 million during the quarter, compared to the consensus estimate of $69.67 million. During the same period last year, the business posted ($3.03) EPS. Intercept Pharmaceuticals’s quarterly revenue was up 39.1% on a year-over-year basis. On average, research analysts expect that Intercept Pharmaceuticals will post -11.3 earnings per share for the current fiscal year.
In other Intercept Pharmaceuticals news, Director Paolo Fundaro sold 595,578 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $84.60, for a total value of $50,385,898.80. Following the completion of the sale, the director now directly owns 19,433 shares in the company, valued at $1,644,031.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 595,817 shares of company stock valued at $50,405,516 over the last 90 days. 23.70% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prudential Financial Inc. acquired a new stake in Intercept Pharmaceuticals in the fourth quarter worth approximately $1,048,000. Squarepoint Ops LLC bought a new position in shares of Intercept Pharmaceuticals in the first quarter valued at $766,000. AlphaCrest Capital Management LLC increased its holdings in shares of Intercept Pharmaceuticals by 7.8% in the first quarter. AlphaCrest Capital Management LLC now owns 5,434 shares of the biopharmaceutical company’s stock valued at $342,000 after buying an additional 393 shares in the last quarter. CIBC World Markets Inc. bought a new position in shares of Intercept Pharmaceuticals in the fourth quarter valued at $223,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Intercept Pharmaceuticals in the first quarter valued at $310,000. Hedge funds and other institutional investors own 76.46% 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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