California State Teachers Retirement System trimmed its holdings in Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,914 shares of the biopharmaceutical company’s stock after selling 645 shares during the period. California State Teachers Retirement System owned about 0.13% of Intercept Pharmaceuticals worth $3,864,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the business. Cubist Systematic Strategies LLC lifted its stake in shares of Intercept Pharmaceuticals by 469.0% in the second quarter. Cubist Systematic Strategies LLC now owns 3,983 shares of the biopharmaceutical company’s stock valued at $482,000 after buying an additional 3,283 shares in the last quarter. QCM Cayman Ltd. purchased a new stake in shares of Intercept Pharmaceuticals in the second quarter valued at about $237,000. Balyasny Asset Management LLC purchased a new stake in shares of Intercept Pharmaceuticals in the second quarter valued at about $13,766,000. Bayesian Capital Management LP purchased a new stake in shares of Intercept Pharmaceuticals in the second quarter valued at about $303,000. Finally, Zacks Investment Management purchased a new stake in shares of Intercept Pharmaceuticals in the second quarter valued at about $1,212,000. 82.81% of the stock is currently owned by hedge funds and other institutional investors.
In other Intercept Pharmaceuticals news, CMO David Shapiro sold 1,250 shares of Intercept Pharmaceuticals stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $117.43, for a total transaction of $146,787.50. Following the transaction, the chief marketing officer now directly owns 45,812 shares of the company’s stock, valued at $5,379,703.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lisa Bright sold 253 shares of Intercept Pharmaceuticals stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $111.31, for a total transaction of $28,161.43. Following the transaction, the insider now directly owns 23,324 shares in the company, valued at $2,596,194.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,069 shares of company stock valued at $325,974. 9.20% of the stock is currently owned by company insiders.
ICPT has been the subject of several analyst reports. Royal Bank Of Canada initiated coverage on shares of Intercept Pharmaceuticals in a report on Thursday, September 14th. They issued an “outperform” rating and a $244.00 target price for the company. Laidlaw lowered their target price on shares of Intercept Pharmaceuticals from $118.00 to $90.00 and set a “hold” rating for the company in a report on Friday, September 22nd. Cantor Fitzgerald upgraded shares of Intercept Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $69.00 price objective for the company in a report on Wednesday. BidaskClub upgraded shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Finally, Wedbush restated a “buy” rating on shares of Intercept Pharmaceuticals in a report on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $153.76.
Shares of Intercept Pharmaceuticals, Inc. (ICPT) opened at $65.09 on Friday. The company has a current ratio of 6.61, a quick ratio of 6.61 and a debt-to-equity ratio of 2.05.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its earnings results 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. Intercept Pharmaceuticals had a negative net margin of 344.74% and a negative return on equity of 152.78%. The business had revenue of $41.33 million during the quarter, compared to analyst estimates of $36.95 million. During the same period in the previous year, the business posted ($3.59) earnings per share. Intercept Pharmaceuticals’s revenue for the quarter was up 697.9% on a year-over-year basis. sell-side analysts expect that Intercept Pharmaceuticals, Inc. will post -13.5 earnings per share for the current year.
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Intercept Pharmaceuticals 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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