Intercept Pharmaceuticals (ICPT) Shares Up 10.1% on Strong Earnings

Intercept Pharmaceuticals Inc (NASDAQ:ICPT) shot up 10.1% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $98.69 and last traded at $96.01. 931,723 shares changed hands during trading, an increase of 37% from the average session volume of 682,358 shares. The stock had previously closed at $87.21.

The biopharmaceutical company reported ($2.18) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.65) by $0.47. Intercept Pharmaceuticals had a negative return on equity of 614.15% and a negative net margin of 215.30%. The company had revenue of $47.00 million for the quarter, compared to the consensus estimate of $48.24 million. During the same quarter in the prior year, the business earned ($2.89) EPS. Intercept Pharmaceuticals’s revenue was up 13.8% on a year-over-year basis.

Several brokerages have weighed in on ICPT. Needham & Company LLC restated a “hold” rating on shares of Intercept Pharmaceuticals in a report on Wednesday. Oppenheimer set a $100.00 price target on Intercept Pharmaceuticals and gave the stock a “hold” rating in a report on Wednesday. Zacks Investment Research downgraded Intercept Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Wedbush upped their price target on Intercept Pharmaceuticals from $203.00 to $217.00 and gave the stock an “outperform” rating in a report on Monday, August 6th. Finally, Royal Bank of Canada downgraded Intercept Pharmaceuticals from an “outperform” rating to a “sector perform” rating and set a $244.00 price target on the stock. in a report on Wednesday, August 15th. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Intercept Pharmaceuticals presently has an average rating of “Buy” and an average target price of $139.88.



In other news, insider David Shapiro sold 759 shares of the company’s stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $110.65, for a total transaction of $83,983.35. Following the completion of the transaction, the insider now directly owns 39,152 shares of the company’s stock, valued at approximately $4,332,168.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 9,101 shares of company stock valued at $984,488. Insiders own 4.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. GWM Advisors LLC acquired a new position in shares of Intercept Pharmaceuticals during the 3rd quarter worth about $220,000. Alps Advisors Inc. boosted its position in shares of Intercept Pharmaceuticals by 23.2% during the 3rd quarter. Alps Advisors Inc. now owns 52,318 shares of the biopharmaceutical company’s stock worth $6,611,000 after acquiring an additional 9,864 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Intercept Pharmaceuticals by 29.9% during the 3rd quarter. First Trust Advisors LP now owns 1,092,319 shares of the biopharmaceutical company’s stock worth $138,025,000 after acquiring an additional 251,735 shares in the last quarter. Strs Ohio acquired a new position in shares of Intercept Pharmaceuticals during the 3rd quarter worth about $126,000. Finally, Mizuho Securities USA LLC acquired a new position in shares of Intercept Pharmaceuticals during the 3rd quarter worth about $600,000. 69.27% of the stock is owned by institutional investors and hedge funds.

The stock has a market cap of $2.65 billion, a PE ratio of -6.68 and a beta of -1.94. The company has a debt-to-equity ratio of 2.48, a current ratio of 6.51 and a quick ratio of 6.51.

Intercept Pharmaceuticals Company Profile (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).

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