Intercept Pharmaceuticals (NASDAQ:ICPT) Lifted to Buy at Citigroup

Intercept Pharmaceuticals (NASDAQ:ICPT) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Briefing.com Automated Import reports.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Co downgraded shares of Intercept Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $146.00 to $46.00 in a research note on Monday. Robert W. Baird cut shares of Intercept Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $52.00 target price for the company. in a report on Tuesday. Chardan Capital reiterated a “buy” rating and issued a $145.00 price objective on shares of Intercept Pharmaceuticals in a report on Tuesday, May 12th. ValuEngine upgraded shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Sunday, May 3rd. Finally, HC Wainwright began coverage on shares of Intercept Pharmaceuticals in a report on Thursday, June 25th. They issued a “neutral” rating and a $92.00 price objective for the company. Eighteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $83.35.

NASDAQ ICPT traded down $0.75 on Tuesday, hitting $45.96. 878,452 shares of the stock were exchanged, compared to its average volume of 606,831. The company has a debt-to-equity ratio of 10.32, a current ratio of 4.19 and a quick ratio of 4.19. The business’s fifty day moving average is $79.66 and its 200 day moving average is $88.43. Intercept Pharmaceuticals has a 52 week low of $44.50 and a 52 week high of $125.00. The company has a market capitalization of $2.55 billion, a PE ratio of -4.25 and a beta of 1.82.

Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings results on Monday, May 11th. The biopharmaceutical company reported ($2.86) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.94) by $0.08. The business had revenue of $72.60 million for the quarter, compared to the consensus estimate of $69.67 million. Intercept Pharmaceuticals had a negative net margin of 127.53% and a negative return on equity of 430.51%. Intercept Pharmaceuticals’s revenue was up 39.1% compared to the same quarter last year. During the same period in the prior 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 related news, Director Paolo Fundaro sold 595,578 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $84.60, for a total value of $50,385,898.80. Following the sale, the director now directly owns 19,433 shares in the company, valued at approximately $1,644,031.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 595,817 shares of company stock worth $50,405,516 over the last 90 days. 23.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in ICPT. First Mercantile Trust Co. grew its holdings in Intercept Pharmaceuticals by 17.5% during 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. PNC Financial Services Group Inc. grew its holdings in shares of Intercept Pharmaceuticals by 42.1% during the first 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 in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Intercept Pharmaceuticals by 3.0% during the first quarter. Principal Financial Group Inc. now owns 8,275 shares of the biopharmaceutical company’s stock worth $521,000 after purchasing an additional 243 shares in the last quarter. Victory Capital Management Inc. lifted its position in Intercept Pharmaceuticals by 6.7% in the 4th quarter. Victory Capital Management Inc. now owns 3,895 shares of the biopharmaceutical company’s stock worth $483,000 after buying an additional 244 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Intercept Pharmaceuticals by 17.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,080 shares of the biopharmaceutical company’s stock worth $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.

Intercept Pharmaceuticals Company 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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Analyst Recommendations for Intercept Pharmaceuticals (NASDAQ:ICPT)

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