Needham & Company LLC Reaffirms Hold Rating for Intercept Pharmaceuticals, Inc. (ICPT)

Needham & Company LLC reiterated their hold rating on shares of Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) in a report released on Wednesday morning.

“Intercept reported $40.9M in WW 3Q17 Ocaliva sales, with $4.1M attributed to one-time accounting adjustment. Excluding adjustment, WW and U.S. Ocaliva sales were $36.8M and $32.5M, respectively, both in-line with our and consensus $36M and $33M ests. Company has completed safety review w/ independent committee and discussions w/ FDA are underway. Changes to U.S. label are expected by early 1Q18. Safety concerns appear to have had modest impact on NRX since FDA letter and we have reduced our ests accordingly. Long-term sales in PBC may be negatively impacted by large number of competing programs in development. Maintain HOLD.”,” Needham & Company LLC’s analyst commented.

Several other analysts have also commented on ICPT. BidaskClub lowered Intercept Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, July 5th. Jefferies Group LLC started coverage on Intercept Pharmaceuticals in a research note on Monday, July 10th. They issued a buy rating and a $275.00 price target on the stock. Zacks Investment Research raised Intercept Pharmaceuticals from a hold rating to a buy rating and set a $136.00 price target on the stock in a research note on Tuesday, July 11th. Cantor Fitzgerald reaffirmed an underweight rating and issued a $69.00 price target (up previously from $60.00) on shares of Intercept Pharmaceuticals in a research note on Monday, July 31st. Finally, Wedbush reaffirmed a buy rating on shares of Intercept Pharmaceuticals in a research note on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $153.76.

Intercept Pharmaceuticals (NASDAQ ICPT) opened at $65.09 on Wednesday. The company has a quick ratio of 6.61, a current ratio of 6.61 and a debt-to-equity ratio of 2.05.

Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($2.89) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.48) by $0.59. The business had revenue of $41.33 million for the quarter, compared to analyst estimates of $36.95 million. Intercept Pharmaceuticals had a negative return on equity of 152.78% and a negative net margin of 344.74%. Intercept Pharmaceuticals’s quarterly revenue was up 697.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($3.59) EPS. sell-side analysts expect that Intercept Pharmaceuticals will post -13.79 earnings per share for the current year.

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In related news, CEO Mark Pruzanski sold 1,532 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $58.87, for a total value of $90,188.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO David Shapiro sold 1,250 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were 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 4,069 shares of company stock valued at $325,974 in the last quarter. 9.20% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of ICPT. WFG Advisors LP grew its stake in Intercept Pharmaceuticals by 16.4% in the second quarter. WFG Advisors LP now owns 888 shares of the biopharmaceutical company’s stock valued at $108,000 after acquiring an additional 125 shares during the period. IFP Advisors Inc grew its stake in Intercept Pharmaceuticals by 90.9% in the third quarter. IFP Advisors Inc now owns 2,482 shares of the biopharmaceutical company’s stock valued at $144,000 after acquiring an additional 1,182 shares during the period. Aperio Group LLC acquired a new position in Intercept Pharmaceuticals in the second quarter valued at about $212,000. PNC Financial Services Group Inc. grew its stake 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 acquiring an additional 14 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Intercept Pharmaceuticals in the second quarter valued at about $235,000. 82.81% of the stock is owned by hedge funds and other institutional investors.

About Intercept Pharmaceuticals

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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