Intercept Pharmaceuticals (NASDAQ:ICPT) Price Target Cut to $100.00 by Analysts at Needham & Company LLC

Intercept Pharmaceuticals (NASDAQ:ICPT) had its target price cut by equities researchers at Needham & Company LLC from $150.00 to $100.00 in a note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 114.13% from the stock’s current price.

Several other research analysts also recently commented on the company. Chardan Capital reaffirmed a “buy” rating and set a $145.00 price objective on shares of Intercept Pharmaceuticals in a research report on Tuesday, May 12th. Royal Bank of Canada cut shares of Intercept Pharmaceuticals from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $117.00 to $55.00 in a research note on Monday. Citigroup cut shares of Intercept Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $110.00 target price on the stock. in a research note on Tuesday, May 12th. Canaccord Genuity cut Intercept Pharmaceuticals from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a report on Monday. Finally, B. Riley reaffirmed a “buy” rating and set a $97.00 price objective on shares of Intercept Pharmaceuticals in a report on Monday. Nineteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Intercept Pharmaceuticals has a consensus rating of “Hold” and an average price target of $84.55.

Intercept Pharmaceuticals stock opened at $46.70 on Tuesday. Intercept Pharmaceuticals has a twelve month low of $44.50 and a twelve month high of $125.00. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 10.32. The company has a market capitalization of $2.55 billion, a P/E ratio of -4.36 and a beta of 1.82. The stock’s 50 day moving average is $79.66 and its 200 day moving average is $88.43.

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

In related news, Director Paolo Fundaro sold 595,578 shares of the stock in a transaction dated Wednesday, May 13th. The shares were 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 of the company’s stock, valued at approximately $1,644,031.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 595,817 shares of company stock valued at $50,405,516. 23.70% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in ICPT. Sarissa Capital Management LP lifted its position in shares of Intercept Pharmaceuticals by 34.3% during the first quarter. Sarissa Capital Management LP now owns 1,155,000 shares of the biopharmaceutical company’s stock worth $72,718,000 after purchasing an additional 295,000 shares during the last quarter. Macquarie Group Ltd. increased its stake in Intercept Pharmaceuticals by 50.5% in the 4th quarter. Macquarie Group Ltd. now owns 545,414 shares of the biopharmaceutical company’s stock worth $67,588,000 after buying an additional 183,072 shares during the period. Two Sigma Advisers LP lifted its holdings in Intercept Pharmaceuticals by 37.5% during the 1st quarter. Two Sigma Advisers LP now owns 539,600 shares of the biopharmaceutical company’s stock valued at $33,973,000 after buying an additional 147,200 shares in the last quarter. Geode Capital Management LLC boosted its position in Intercept Pharmaceuticals by 6.5% in the 1st quarter. Geode Capital Management LLC now owns 382,469 shares of the biopharmaceutical company’s stock valued at $24,080,000 after buying an additional 23,187 shares during the period. Finally, Two Sigma Investments LP boosted its position in Intercept Pharmaceuticals by 10.6% in the 1st quarter. Two Sigma Investments LP now owns 333,127 shares of the biopharmaceutical company’s stock valued at $20,974,000 after buying an additional 31,881 shares during the period. 76.46% of the stock is currently owned by institutional investors.

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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