Canaccord Genuity Downgrades Intercept Pharmaceuticals (NASDAQ:ICPT) to Hold

Intercept Pharmaceuticals (NASDAQ:ICPT) was downgraded by stock analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, Briefing.com Automated Import reports.

ICPT has been the subject of several other research reports. HC Wainwright assumed coverage on shares of Intercept Pharmaceuticals in a research report on Thursday. They issued a “neutral” rating and a $92.00 price target for the company. BidaskClub raised shares of Intercept Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Oppenheimer downgraded shares of Intercept Pharmaceuticals from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $124.00 to $46.00 in a research note on Monday. Chardan Capital restated a “buy” rating and issued a $145.00 price target on shares of Intercept Pharmaceuticals in a research report on Tuesday, May 12th. Finally, ValuEngine raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, May 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $127.50.

Shares of Intercept Pharmaceuticals stock traded down $30.65 on Monday, hitting $46.84. The stock had a trading volume of 7,089,872 shares, compared to its average volume of 606,831. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of -4.37 and a beta of 1.82. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 10.32. Intercept Pharmaceuticals has a 52-week low of $47.57 and a 52-week high of $125.00. The company’s 50 day moving average price is $80.22 and its 200 day moving average price is $88.90.

Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings results on Monday, May 11th. The biopharmaceutical company reported ($2.86) EPS for the quarter, topping the consensus estimate of ($2.94) by $0.08. The company had revenue of $72.60 million for the quarter, compared to analyst estimates of $69.67 million. Intercept Pharmaceuticals had a negative return on equity of 430.51% and a negative net margin of 127.53%. The firm’s revenue was up 39.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($3.03) earnings per share. Analysts predict that Intercept Pharmaceuticals will post -11.3 EPS for the current fiscal year.

In other news, Director Paolo Fundaro sold 595,578 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $84.60, for a total transaction of $50,385,898.80. Following the sale, the director now owns 19,433 shares of the company’s stock, valued at approximately $1,644,031.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 595,817 shares of company stock worth $50,405,516. 23.70% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in ICPT. Efficient Wealth Management LLC purchased a new stake in shares of Intercept Pharmaceuticals in the first quarter valued at about $31,000. PNC Financial Services Group Inc. raised its position in shares of Intercept Pharmaceuticals by 42.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 790 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 234 shares during the last quarter. First Mercantile Trust Co. lifted its stake in Intercept Pharmaceuticals by 17.5% in the 1st quarter. First Mercantile Trust Co. now owns 938 shares of the biopharmaceutical company’s stock valued at $59,000 after buying an additional 140 shares in the last quarter. Credit Agricole S A purchased a new stake in Intercept Pharmaceuticals in the 1st quarter valued at approximately $76,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Intercept Pharmaceuticals by 17.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,080 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 312 shares during the last quarter. Institutional investors and hedge funds own 76.46% 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.

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Analyst Recommendations for Intercept Pharmaceuticals (NASDAQ:ICPT)

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