Intercept Pharmaceuticals Inc (ICPT) Given “Outperform” Rating at BMO Capital Markets

BMO Capital Markets restated their outperform rating on shares of Intercept Pharmaceuticals Inc (NASDAQ:ICPT) in a research note published on Friday, May 5th. They currently have a $223.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $221.00.

Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Intercept Pharmaceuticals from a hold rating to a buy rating and set a $128.00 price objective on the stock in a report on Tuesday, January 17th. Wedbush reiterated a positive rating and set a $224.00 price target on shares of Intercept Pharmaceuticals in a research note on Friday, February 24th. Oppenheimer Holdings Inc. set a $200.00 price target on shares of Intercept Pharmaceuticals and gave the stock a buy rating in a research note on Wednesday, January 11th. Needham & Company LLC lowered shares of Intercept Pharmaceuticals from a buy rating to a hold rating in a research note on Friday, January 20th. Finally, Citigroup Inc set a $240.00 price target on shares of Intercept Pharmaceuticals and gave the stock a buy rating in a research note on Tuesday, February 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $188.37.

Intercept Pharmaceuticals (NASDAQ:ICPT) traded down 1.75% during midday trading on Friday, reaching $113.92. 245,306 shares of the company traded hands. Intercept Pharmaceuticals has a one year low of $96.63 and a one year high of $177.93. The company has a 50 day moving average price of $112.40 and a 200-day moving average price of $113.04. The stock’s market capitalization is $2.85 billion.

Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported ($3.61) earnings per share for the quarter, beating the consensus estimate of ($4.27) by $0.66. The firm had revenue of $21 million for the quarter, compared to analysts’ expectations of $15.88 million. Intercept Pharmaceuticals had a negative net margin of 3,287.95% and a negative return on equity of 66.97%. The company’s revenue was up 4566.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($5.17) EPS. Analysts forecast that Intercept Pharmaceuticals will post ($14.65) EPS for the current fiscal year.

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In other Intercept Pharmaceuticals news, insider Lisa Bright sold 254 shares of the business’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $119.48, for a total transaction of $30,347.92. Following the completion of the transaction, the insider now owns 21,695 shares in the company, valued at approximately $2,592,118.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO David Shapiro sold 1,117 shares of the business’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $112.18, for a total value of $125,305.06. Following the completion of the sale, the chief marketing officer now directly owns 46,582 shares in the company, valued at approximately $5,225,568.76. The disclosure for this sale can be found here. Insiders have sold a total of 3,318 shares of company stock valued at $375,832 in the last quarter. 9.20% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Intercept Pharmaceuticals during the fourth quarter valued at $17,652,000. State Street Corp raised its position in Intercept Pharmaceuticals by 20.2% in the fourth quarter. State Street Corp now owns 751,027 shares of the biopharmaceutical company’s stock valued at $81,600,000 after buying an additional 126,011 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in Intercept Pharmaceuticals during the first quarter valued at $13,012,000. Marshall Wace North America L.P. acquired a new position in Intercept Pharmaceuticals during the first quarter valued at $13,012,000. Finally, Macquarie Group Ltd. raised its position in Intercept Pharmaceuticals by 54.2% in the first quarter. Macquarie Group Ltd. now owns 241,565 shares of the biopharmaceutical company’s stock valued at $27,321,000 after buying an additional 84,954 shares during the last quarter. 82.28% of the stock is currently 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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