Intercept Pharmaceuticals, Inc. (ICPT) Given Buy Rating at Wedbush

Wedbush restated their buy rating on shares of Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) in a report published on Monday morning. Wedbush currently has a $253.00 price objective on the biopharmaceutical company’s stock.

Several other analysts also recently weighed in on the stock. Cowen and Company reiterated an outperform rating and issued a $232.00 target price on shares of Intercept Pharmaceuticals in a report on Thursday, September 14th. Wells Fargo & Company reiterated an outperform rating on shares of Intercept Pharmaceuticals in a report on Wednesday, September 13th. Cantor Fitzgerald reiterated an underweight rating and issued a $69.00 target price on shares of Intercept Pharmaceuticals in a report on Wednesday, September 13th. Bank of America Corporation dropped their target price on shares of Intercept Pharmaceuticals from $102.00 to $73.00 and set an underperform rating for the company in a report on Friday, October 13th. Finally, Robert W. Baird reiterated an outperform rating and issued a $332.00 target price on shares of Intercept Pharmaceuticals in a report on Wednesday, September 13th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Intercept Pharmaceuticals has a consensus rating of Hold and an average target price of $144.41.

Shares of Intercept Pharmaceuticals (NASDAQ ICPT) opened at $60.74 on Monday. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 3.15. Intercept Pharmaceuticals has a 1-year low of $54.98 and a 1-year high of $135.59.

Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($2.89) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($3.48) by $0.59. The business had revenue of $41.33 million during the quarter, compared to the consensus estimate of $36.95 million. Intercept Pharmaceuticals had a negative net margin of 344.74% and a negative return on equity of 176.51%. The business’s revenue was up 697.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($3.59) EPS. analysts expect that Intercept Pharmaceuticals will post -13.41 earnings per share for the current fiscal year.

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In related news, CMO David Shapiro sold 1,250 shares of Intercept Pharmaceuticals stock in a transaction 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 sale, the chief marketing officer now directly owns 45,812 shares in the company, valued at approximately $5,379,703.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Pruzanski sold 1,532 shares of Intercept Pharmaceuticals stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $58.87, for a total transaction of $90,188.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,069 shares of company stock valued at $325,974. Corporate insiders own 4.50% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado raised its stake in Intercept Pharmaceuticals by 1.1% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 4,111 shares of the biopharmaceutical company’s stock worth $498,000 after acquiring an additional 43 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Intercept Pharmaceuticals by 1.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 3,435 shares of the biopharmaceutical company’s stock worth $416,000 after acquiring an additional 62 shares in the last quarter. WFG Advisors LP raised its stake in Intercept Pharmaceuticals by 16.4% during the 2nd quarter. WFG Advisors LP now owns 888 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 125 shares in the last quarter. Utah Retirement Systems raised its stake in Intercept Pharmaceuticals by 6.5% during the 2nd quarter. Utah Retirement Systems now owns 3,300 shares of the biopharmaceutical company’s stock worth $400,000 after acquiring an additional 200 shares in the last quarter. Finally, State of Wisconsin Investment Board raised its stake in Intercept Pharmaceuticals by 7.9% during the 2nd quarter. State of Wisconsin Investment Board now owns 3,567 shares of the biopharmaceutical company’s stock worth $432,000 after acquiring an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 76.62% 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.

Analyst Recommendations for Intercept Pharmaceuticals (NASDAQ:ICPT)

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