Intercept Pharmaceuticals (ICPT) Hits New 1-Year High at $124.40

Shares of Intercept Pharmaceuticals Inc (NASDAQ:ICPT) hit a new 52-week high on Friday . The stock traded as high as $124.40 and last traded at $120.37, with a volume of 13648 shares trading hands. The stock had previously closed at $117.70.

Several analysts recently weighed in on ICPT shares. Goldman Sachs Group raised shares of Intercept Pharmaceuticals from a “sell” rating to a “buy” rating and raised their target price for the company from $46.00 to $157.00 in a report on Monday, August 6th. BidaskClub raised shares of Intercept Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 4th. Roth Capital assumed coverage on shares of Intercept Pharmaceuticals in a research note on Wednesday. They issued a “buy” rating and a $192.00 price target on the stock. ValuEngine lowered shares of Intercept Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research upgraded shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Tuesday, July 10th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Intercept Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $126.91.

The company has a market cap of $3.45 billion, a P/E ratio of -8.38 and a beta of -1.72. The company has a debt-to-equity ratio of 2.48, a quick ratio of 6.51 and a current ratio of 6.51.

Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($2.58) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.83) by $0.25. The company had revenue of $43.58 million for the quarter, compared to analyst estimates of $41.26 million. Intercept Pharmaceuticals had a negative net margin of 215.30% and a negative return on equity of 614.15%. The firm’s revenue was up 41.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($3.46) earnings per share. analysts expect that Intercept Pharmaceuticals Inc will post -10.83 EPS for the current fiscal year.

In other news, insider David Shapiro sold 4,917 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $111.43, for a total transaction of $547,901.31. Following the transaction, the insider now directly owns 42,196 shares in the company, valued at $4,701,900.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in ICPT. FMR LLC grew its position in shares of Intercept Pharmaceuticals by 17.5% during the second quarter. FMR LLC now owns 4,437,332 shares of the biopharmaceutical company’s stock worth $372,336,000 after acquiring an additional 661,542 shares during the last quarter. Elk Creek Partners LLC purchased a new position in shares of Intercept Pharmaceuticals during the first quarter worth approximately $21,437,000. Point72 Asset Management L.P. grew its position in shares of Intercept Pharmaceuticals by 925.1% during the first quarter. Point72 Asset Management L.P. now owns 281,900 shares of the biopharmaceutical company’s stock worth $17,342,000 after acquiring an additional 254,400 shares during the last quarter. Senvest Management LLC grew its position in shares of Intercept Pharmaceuticals by 18.7% during the first quarter. Senvest Management LLC now owns 1,152,032 shares of the biopharmaceutical company’s stock worth $70,873,000 after acquiring an additional 181,106 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Intercept Pharmaceuticals by 168.9% during the first quarter. Millennium Management LLC now owns 235,180 shares of the biopharmaceutical company’s stock worth $14,468,000 after acquiring an additional 147,719 shares during the last quarter. Institutional investors and hedge funds own 69.39% of the company’s stock.

About Intercept Pharmaceuticals (NASDAQ:ICPT)

Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics in the United States, Europe, and Canada. Its lead product candidate is obeticholic acid (OCA), a bile acid analog, which has a structure based on a naturally occurring human bile acid that selectively binds to and activates the farnesoid X receptor (FXR).

Further Reading: Short Selling – Explanation For Shorting Stocks

Receive News & Ratings for Intercept Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercept Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply