A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada set a $135.00 price objective on Intercept Pharmaceuticals and gave the stock a buy rating in a research report on Friday, September 6th. ValuEngine upgraded Intercept Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, August 1st. Wedbush set a $243.00 price objective on Intercept Pharmaceuticals and gave the stock a buy rating in a research report on Friday, July 5th. Citigroup upgraded Intercept Pharmaceuticals from a neutral rating to a buy rating and lowered their price objective for the stock from $106.00 to $85.00 in a research report on Wednesday, September 4th. Finally, Zacks Investment Research raised Intercept Pharmaceuticals from a sell rating to a hold rating and set a $73.00 target price for the company in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $133.40.
Shares of ICPT opened at $68.90 on Thursday. Intercept Pharmaceuticals has a 1 year low of $58.21 and a 1 year high of $133.74. The company has a debt-to-equity ratio of 3.11, a quick ratio of 6.54 and a current ratio of 6.54. The business has a 50-day moving average of $63.96 and a 200-day moving average of $84.05.
In other Intercept Pharmaceuticals news, Director Srinivas Akkaraju purchased 5,207 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were acquired at an average cost of $60.32 per share, for a total transaction of $314,086.24. Following the completion of the acquisition, the director now owns 21,526 shares of the company’s stock, valued at approximately $1,298,448.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lisa Bright sold 595 shares of Intercept Pharmaceuticals stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $78.66, for a total value of $46,802.70. Following the sale, the insider now owns 20,452 shares in the company, valued at $1,608,754.32. The disclosure for this sale can be found here. 5.00% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of ICPT. AdvisorNet Financial Inc bought a new stake in shares of Intercept Pharmaceuticals in the second quarter valued at $56,000. Botty Investors LLC bought a new stake in shares of Intercept Pharmaceuticals in the first quarter valued at $84,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Intercept Pharmaceuticals in the second quarter valued at $80,000. NumerixS Investment Technologies Inc bought a new stake in shares of Intercept Pharmaceuticals in the second quarter valued at $88,000. Finally, Coastal Investment Advisors Inc. raised its stake in shares of Intercept Pharmaceuticals by 124.9% in the second quarter. Coastal Investment Advisors Inc. now owns 1,417 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 787 shares during the period. Institutional investors and hedge funds own 80.97% of the company’s stock.
About Intercept Pharmaceuticals
Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics to treat progressive non-viral liver diseases. It markets Ocaliva, an farnesoid X receptor agonist approved in the United States, the European Union, and other jurisdictions for the treatment of primary biliary cholangitis (PBC) in combination with ursodeoxycholic acid in adults.
Further Reading: How interest rates affect municipal bond prices
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.