Scopia Capital Management LP Takes Position in Intercept Pharmaceuticals Inc (NASDAQ:ICPT)

Scopia Capital Management LP purchased a new stake in shares of Intercept Pharmaceuticals Inc (NASDAQ:ICPT) in the second quarter, according to its most recent filing with the SEC. The firm purchased 56,794 shares of the biopharmaceutical company’s stock, valued at approximately $4,519,000. Intercept Pharmaceuticals accounts for about 0.2% of Scopia Capital Management LP’s portfolio, making the stock its 20th largest position. Scopia Capital Management LP owned about 0.17% of Intercept Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ICPT. Vanguard Group Inc. lifted its position in shares of Intercept Pharmaceuticals by 14.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,337,622 shares of the biopharmaceutical company’s stock valued at $186,005,000 after acquiring an additional 295,674 shares during the period. First Trust Advisors LP lifted its position in shares of Intercept Pharmaceuticals by 21.2% during the 2nd quarter. First Trust Advisors LP now owns 1,093,108 shares of the biopharmaceutical company’s stock valued at $86,979,000 after acquiring an additional 191,132 shares during the period. Jennison Associates LLC acquired a new stake in shares of Intercept Pharmaceuticals during the 1st quarter valued at approximately $20,777,000. Samsara BioCapital LLC lifted its position in shares of Intercept Pharmaceuticals by 56.8% during the 2nd quarter. Samsara BioCapital LLC now owns 330,697 shares of the biopharmaceutical company’s stock valued at $26,314,000 after acquiring an additional 119,760 shares during the period. Finally, Federated Investors Inc. PA lifted its position in shares of Intercept Pharmaceuticals by 530.3% during the 1st quarter. Federated Investors Inc. PA now owns 140,565 shares of the biopharmaceutical company’s stock valued at $15,724,000 after acquiring an additional 118,264 shares during the period. Institutional investors own 80.96% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Intercept Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada set a $135.00 price target on shares of Intercept Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, September 6th. Cantor Fitzgerald reduced their price target on shares of Intercept Pharmaceuticals from $191.00 to $186.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Oppenheimer dropped their price objective on shares of Intercept Pharmaceuticals from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $86.00 price objective on shares of Intercept Pharmaceuticals in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $133.40.



In related news, Director Srinivas Akkaraju purchased 67,784 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were bought at an average price of $66.37 per share, for a total transaction of $4,498,824.08. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lisa Bright sold 595 shares of Intercept Pharmaceuticals stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $78.66, for a total transaction of $46,802.70. Following the completion of the transaction, the insider now owns 20,452 shares in the company, valued at approximately $1,608,754.32. The disclosure for this sale can be found here. 5.00% of the stock is owned by company insiders.

ICPT stock traded up $0.06 during midday trading on Friday, hitting $69.31. The stock had a trading volume of 131,900 shares, compared to its average volume of 469,530. The firm has a market cap of $2.29 billion, a PE ratio of -6.38 and a beta of 1.21. The company has a debt-to-equity ratio of 3.11, a current ratio of 6.54 and a quick ratio of 6.54. Intercept Pharmaceuticals Inc has a 12-month low of $58.21 and a 12-month high of $133.74. The company’s 50-day moving average price is $64.61 and its 200 day moving average price is $83.25.

Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($2.28) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($2.51) by $0.23. The company had revenue of $66.30 million for the quarter, compared to analyst estimates of $58.78 million. Intercept Pharmaceuticals had a negative net margin of 143.57% and a negative return on equity of 534.42%. Intercept Pharmaceuticals’s revenue for the quarter was up 52.2% on a year-over-year basis. During the same quarter last year, the business earned ($2.58) EPS. As a group, sell-side analysts anticipate that Intercept Pharmaceuticals Inc will post -9.98 EPS for the current year.

Intercept Pharmaceuticals Profile

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.

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

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