Bank of Montreal Can cut its stake in Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,832 shares of the biopharmaceutical company’s stock after selling 145 shares during the period. Bank of Montreal Can owned 0.10% of Intercept Pharmaceuticals worth $3,006,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Intercept Pharmaceuticals by 14.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,047 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 132 shares during the period. US Bancorp DE purchased a new position in Intercept Pharmaceuticals during the first quarter valued at $130,000. Quantbot Technologies LP purchased a new position in Intercept Pharmaceuticals during the first quarter valued at $170,000. Pacer Advisors Inc. increased its position in Intercept Pharmaceuticals by 21.6% in the first quarter. Pacer Advisors Inc. now owns 1,861 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 330 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Intercept Pharmaceuticals by 0.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,020 shares of the biopharmaceutical company’s stock valued at $229,000 after buying an additional 14 shares during the period. 83.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of Intercept Pharmaceuticals, Inc. (NASDAQ ICPT) opened at 104.08 on Friday. The company’s market cap is $2.61 billion. Intercept Pharmaceuticals, Inc. has a one year low of $96.63 and a one year high of $172.95. The firm has a 50-day moving average of $117.73 and a 200 day moving average of $117.69.
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ICPT has been the topic of a number of research analyst reports. Jefferies Group LLC initiated coverage on shares of Intercept Pharmaceuticals in a research report on Monday, July 10th. They set a “buy” rating and a $275.00 price objective on the stock. Credit Suisse Group lifted their target price on shares of Intercept Pharmaceuticals from $198.00 to $201.00 and gave the company an “outperform” rating in a research note on Friday, May 5th. Oppenheimer Holdings, Inc. set a $200.00 target price on shares of Intercept Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, May 4th. Zacks Investment Research upgraded shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $136.00 target price for the company in a research note on Tuesday, July 11th. Finally, Laidlaw upgraded shares of Intercept Pharmaceuticals from a “sell” rating to a “hold” rating and set a $115.00 target price for the company in a research note on Friday, May 5th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $203.67.
In other Intercept Pharmaceuticals news, Director Daniel G. Welch sold 602 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $123.93, for a total value of $74,605.86. Following the transaction, the director now directly owns 3,108 shares of the company’s stock, valued at $385,174.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lisa Bright sold 698 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $110.73, for a total value of $77,289.54. Following the completion of the transaction, the insider now directly owns 24,711 shares in the company, valued at $2,736,249.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,462 shares of company stock worth $6,130,938. 9.20% of the stock is owned by insiders.
Intercept Pharmaceuticals Company Profile
Intercept Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat non-viral, progressive liver diseases. The Company’s product candidates have the potential to treat orphan and more prevalent diseases for which there are limited therapeutic solutions.
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