Intercept Pharmaceuticals (ICPT) Lowered to Sell at Zacks Investment Research

Intercept Pharmaceuticals (NASDAQ:ICPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Intercept is facing challenges with its lead drug Ocaliva. Prescription demand has softened following the Dear Health Care Provider letter and the FDA safety communication on Ocaliva. Recently, some deaths have been reported in PBC patients with moderate or severe hepatic impairment (Child Pugh B or C cirrhosis). However, Intercept conducted an analysis and concluded that these patients were prescribed once daily doses of Ocaliva, which is seven times higher than the recommended weekly dose. The company concluded that deaths occurred due to overdosing. Consequently, Intercept issued the Dear Healthcare Provider letter. Thereafter, the FDA issued their own safety communication to reinforce recommended label dosing. Shares have underperformed the industry in the last six months. Meanwhile, Intercept is evaluating Ocaliva for other indications including NASH and PSC.A label expansion will bode well.”

Several other brokerages have also recently weighed in on ICPT. Cowen reiterated an “outperform” rating and set a $232.00 price target on shares of Intercept Pharmaceuticals in a research report on Thursday, September 14th. Goldman Sachs Group reiterated a “neutral” rating and set a $79.00 price target on shares of Intercept Pharmaceuticals in a research report on Friday, October 6th. Cantor Fitzgerald reiterated an “underweight” rating and set a $69.00 price target on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 13th. Citigroup set a $74.00 price target on Intercept Pharmaceuticals and gave the company a “hold” rating in a research report on Friday, December 29th. Finally, Leerink Swann reduced their price target on Intercept Pharmaceuticals from $120.00 to $66.00 and set a “market perform” rating for the company in a research report on Saturday, September 23rd. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $140.24.

Shares of Intercept Pharmaceuticals (NASDAQ:ICPT) traded up $0.64 during mid-day trading on Tuesday, reaching $54.95. The company had a trading volume of 516,710 shares, compared to its average volume of 707,831. The company has a debt-to-equity ratio of 3.15, a quick ratio of 5.95 and a current ratio of 5.95. The stock has a market capitalization of $1,380.00, a PE ratio of -3.71 and a beta of -2.05. Intercept Pharmaceuticals has a 52 week low of $52.11 and a 52 week 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 for the quarter, beating the consensus estimate of ($3.48) by $0.59. The company had revenue of $41.33 million during the quarter, compared to analysts’ expectations of $36.95 million. Intercept Pharmaceuticals had a negative return on equity of 176.51% 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 period last year, the business earned ($3.59) earnings per share. research analysts anticipate that Intercept Pharmaceuticals will post -13.36 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of ICPT. WFG Advisors LP grew its holdings 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 purchasing an additional 125 shares during the period. IFP Advisors Inc grew its holdings 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 purchasing an additional 1,182 shares during the period. SG Americas Securities LLC acquired a new stake in Intercept Pharmaceuticals in the second quarter valued at approximately $235,000. QCM Cayman Ltd. acquired a new stake in Intercept Pharmaceuticals in the second quarter valued at approximately $237,000. Finally, Birchview Capital LP acquired a new stake in Intercept Pharmaceuticals in the third quarter valued at approximately $250,000. 73.76% of the stock is currently owned by 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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