Intercept Pharmaceuticals, Inc. (ICPT) Stock Price Up NaN Following Strong Earnings

Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) shares rose NaN during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $68.00 and last traded at $0.00. Approximately 2,100,186 shares traded hands during trading, an increase of Infinity from the average daily volume of 0 shares. The biopharmaceutical company reported ($2.89) EPS for the quarter, beating analysts’ consensus estimates of ($3.48) by $0.59. Intercept Pharmaceuticals had a negative return on equity of 152.78% and a negative net margin of 344.74%. The firm had revenue of $41.33 million for the quarter, compared to analyst estimates of $36.95 million. During the same quarter in the previous year, the company posted ($3.59) EPS. The business’s revenue was up 697.9% on a year-over-year basis.

Several brokerages recently commented on ICPT. Citigroup Inc. restated a “neutral” rating and set a $150.00 target price on shares of Intercept Pharmaceuticals in a research report on Tuesday, September 19th. Needham & Company LLC restated a “hold” rating on shares of Intercept Pharmaceuticals in a research report on Wednesday. Laidlaw restated a “hold” rating and set a $119.00 target price (up previously from $115.00) on shares of Intercept Pharmaceuticals in a research report on Tuesday, August 1st. UBS AG lowered Intercept Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Friday, September 22nd. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Intercept Pharmaceuticals in a research report on Tuesday, October 24th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $153.76.

In other news, CMO David Shapiro sold 1,250 shares of the stock in a transaction that occurred 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 directly owns 45,812 shares of the company’s stock, valued at $5,379,703.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lisa Bright sold 253 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $111.31, for a total value of $28,161.43. Following the completion of the sale, the insider now directly owns 23,324 shares of the company’s stock, valued at $2,596,194.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,069 shares of company stock valued at $325,974. Company insiders own 9.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. FMR LLC increased its position in shares of Intercept Pharmaceuticals by 0.7% during the second quarter. FMR LLC now owns 3,750,678 shares of the biopharmaceutical company’s stock valued at $454,094,000 after acquiring an additional 25,958 shares during the last quarter. Carmignac Gestion increased its position in shares of Intercept Pharmaceuticals by 0.4% during the second quarter. Carmignac Gestion now owns 2,035,592 shares of the biopharmaceutical company’s stock valued at $246,449,000 after acquiring an additional 7,400 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Intercept Pharmaceuticals by 4.5% during the second quarter. Vanguard Group Inc. now owns 1,328,133 shares of the biopharmaceutical company’s stock valued at $160,797,000 after acquiring an additional 57,149 shares during the last quarter. State Street Corp increased its position in shares of Intercept Pharmaceuticals by 7.3% during the first quarter. State Street Corp now owns 805,550 shares of the biopharmaceutical company’s stock valued at $91,110,000 after acquiring an additional 54,523 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Intercept Pharmaceuticals by 4.5% during the third quarter. First Trust Advisors LP now owns 300,455 shares of the biopharmaceutical company’s stock valued at $17,438,000 after acquiring an additional 13,044 shares during the last quarter. 82.81% of the stock is owned by hedge funds and other institutional investors.

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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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