Intercept Pharmaceuticals’ (ICPT) “Buy” Rating Reaffirmed at Cowen and Company

Cowen and Company reaffirmed their buy rating on shares of Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) in a research note released on Wednesday. Cowen and Company currently has a $112.00 price objective on the biopharmaceutical company’s stock.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company reaffirmed an outperform rating on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 13th. Jefferies Group LLC started coverage on Intercept Pharmaceuticals in a research report on Monday, July 10th. They issued a buy rating and a $275.00 price objective on the stock. Cantor Fitzgerald reaffirmed an underweight rating and issued a $69.00 price objective on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 13th. Bank of America Corporation lowered their price objective on Intercept Pharmaceuticals from $102.00 to $73.00 and set an underperform rating on the stock in a research report on Friday, October 13th. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $332.00 price objective on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 13th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Intercept Pharmaceuticals has an average rating of Hold and an average target price of $153.76.

Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($2.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.48) by $0.59. The business had revenue of $41.33 million for the quarter, compared to analysts’ expectations of $36.95 million. Intercept Pharmaceuticals had a negative return on equity of 135.24% and a negative net margin of 543.35%. The firm’s quarterly revenue was up 697.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($3.59) EPS.

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In other Intercept Pharmaceuticals news, CEO Mark Pruzanski sold 1,532 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $58.87, for a total value of $90,188.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO David Shapiro sold 1,250 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $117.43, for a total value of $146,787.50. Following the completion of the sale, the chief marketing officer now owns 45,812 shares of the company’s stock, valued at approximately $5,379,703.16. The disclosure for this sale can be found here. Insiders sold a total of 4,069 shares of company stock valued at $325,974 in the last quarter. 9.20% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. WFG Advisors LP increased its stake in Intercept Pharmaceuticals by 16.4% in the 2nd quarter. WFG Advisors LP now owns 888 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 125 shares in the last quarter. IFP Advisors Inc increased its stake in Intercept Pharmaceuticals by 128.1% in the 2nd quarter. IFP Advisors Inc now owns 1,300 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 730 shares in the last quarter. Aperio Group LLC purchased a new stake in Intercept Pharmaceuticals in the 2nd quarter worth $212,000. SG Americas Securities LLC purchased a new stake in Intercept Pharmaceuticals in the 2nd quarter worth $235,000. Finally, QCM Cayman Ltd. purchased a new stake in Intercept Pharmaceuticals in the 2nd quarter worth $237,000. Institutional investors and hedge funds own 82.81% of the company’s stock.

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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