Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) issued its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($3.62) by $0.16, Bloomberg Earnings reports. Intercept Pharmaceuticals had a negative net margin of 543.35% and a negative return on equity of 135.24%. The company had revenue of $30.89 million during the quarter, compared to the consensus estimate of $27.50 million. During the same period in the prior year, the company earned ($3.14) EPS. Intercept Pharmaceuticals’s revenue was up 459.6% on a year-over-year basis.
Intercept Pharmaceuticals (ICPT) opened at 104.08 on Friday. Intercept Pharmaceuticals has a 12-month low of $96.63 and a 12-month high of $172.95. The company has a 50-day moving average price of $117.73 and a 200-day moving average price of $117.69. The firm’s market cap is $2.61 billion.
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In related news, CEO Mark Pruzanski sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $130.80, for a total transaction of $5,232,000.00. Following the transaction, the chief executive officer now directly owns 611,718 shares of the company’s stock, valued at approximately $80,012,714.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandip Kapadia sold 1,431 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $121.59, for a total value of $173,995.29. Following the transaction, the chief financial officer now directly owns 20,569 shares in the company, valued at $2,500,984.71. The disclosure for this sale can be found here. Insiders have sold a total of 47,462 shares of company stock worth $6,130,938 over the last three months. 9.20% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. WFG Advisors LP boosted its position in Intercept Pharmaceuticals by 16.4% in the second quarter. WFG Advisors LP now owns 888 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 125 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Intercept Pharmaceuticals by 14.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,047 shares of the biopharmaceutical company’s stock worth $118,000 after buying an additional 132 shares during the last quarter. US Bancorp DE purchased a new position in shares of Intercept Pharmaceuticals during the first quarter worth about $130,000. IFP Advisors Inc boosted its stake in shares of Intercept Pharmaceuticals by 128.1% in the second quarter. IFP Advisors Inc now owns 1,300 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 730 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Intercept Pharmaceuticals during the first quarter valued at $170,000. Hedge funds and other institutional investors own 83.05% of the company’s stock.
ICPT has been the subject of a number of research analyst reports. Cowen and Company reissued a “buy” rating and issued a $225.00 price target on shares of Intercept Pharmaceuticals in a report on Monday, April 24th. Zacks Investment Research downgraded shares of Intercept Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Oppenheimer Holdings, Inc. set a $200.00 price target on shares of Intercept Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, May 4th. Cantor Fitzgerald set a $60.00 price objective on Intercept Pharmaceuticals and gave the stock a “sell” rating in a report on Thursday, May 4th. Finally, Laidlaw upgraded Intercept Pharmaceuticals from a “sell” rating to a “hold” rating and set a $115.00 price objective on the stock in a report on Friday, May 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $203.67.
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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