Cubist Systematic Strategies LLC Increases Stake in Intercept Pharmaceuticals, Inc. (ICPT)

Cubist Systematic Strategies LLC grew its position in Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) by 469.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,983 shares of the biopharmaceutical company’s stock after acquiring an additional 3,283 shares during the period. Cubist Systematic Strategies LLC’s holdings in Intercept Pharmaceuticals were worth $482,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Balyasny Asset Management LLC bought a new position in Intercept Pharmaceuticals during the 2nd quarter worth $13,766,000. Macquarie Group Ltd. raised its position in Intercept Pharmaceuticals by 54.2% during the 1st quarter. Macquarie Group Ltd. now owns 241,565 shares of the biopharmaceutical company’s stock worth $27,321,000 after purchasing an additional 84,954 shares during the last quarter. Vanguard Group Inc. raised its position in Intercept Pharmaceuticals by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,328,133 shares of the biopharmaceutical company’s stock worth $160,797,000 after purchasing an additional 57,149 shares during the last quarter. State Street Corp raised its position in Intercept Pharmaceuticals by 7.3% during the 1st quarter. State Street Corp now owns 805,550 shares of the biopharmaceutical company’s stock worth $91,110,000 after purchasing an additional 54,523 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Intercept Pharmaceuticals by 17.0% during the 2nd quarter. First Trust Advisors LP now owns 287,411 shares of the biopharmaceutical company’s stock worth $34,797,000 after purchasing an additional 41,856 shares during the last quarter. Institutional investors own 82.19% of the company’s stock.

Several research analysts recently issued reports on ICPT shares. BidaskClub lowered Intercept Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Jefferies Group LLC started coverage on Intercept Pharmaceuticals in a research report on Monday, July 10th. They set a “buy” rating and a $275.00 target price for the company. Zacks Investment Research raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $136.00 target price for the company in a research report on Tuesday, July 11th. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $69.00 target price (up from $60.00) on shares of Intercept Pharmaceuticals in a research report on Monday, July 31st. Finally, Wedbush reaffirmed a “buy” rating on shares of Intercept Pharmaceuticals in a research report on Monday, July 31st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $153.76.

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Shares of Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) opened at 66.85 on Monday. The firm’s market capitalization is $1.68 billion. The stock has a 50 day moving average price of $80.05 and a 200 day moving average price of $107.01. Intercept Pharmaceuticals, Inc. has a 52 week low of $54.98 and a 52 week high of $139.44.

Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($3.62) by $0.16. Intercept Pharmaceuticals had a negative net margin of 543.35% and a negative return on equity of 135.24%. The company had revenue of $30.89 million during the quarter, compared to the consensus estimate of $27.50 million. During the same period in the prior year, the firm earned ($3.14) earnings per share. Intercept Pharmaceuticals’s revenue was up 459.6% on a year-over-year basis. Analysts forecast that Intercept Pharmaceuticals, Inc. will post ($13.99) EPS for the current year.

In related news, CMO David Shapiro sold 1,250 shares of the 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 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 SEC, which is available through this link. Also, CEO Mark Pruzanski sold 1,532 shares of the stock in a transaction dated 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 three months, insiders sold 6,061 shares of company stock valued at $565,289. 9.20% of the stock is owned by insiders.

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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Institutional Ownership by Quarter for Intercept Pharmaceuticals (NASDAQ:ICPT)

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