Intercept Pharmaceuticals (NASDAQ:ICPT) Price Target Cut to $50.00 by Analysts at SVB Leerink

Intercept Pharmaceuticals (NASDAQ:ICPT) had its price target reduced by stock analysts at SVB Leerink from $89.00 to $50.00 in a note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a “market perform” rating on the biopharmaceutical company’s stock. SVB Leerink’s price target would suggest a potential upside of 7.07% from the company’s previous close.

ICPT has been the topic of several other reports. B. Riley restated a “buy” rating and set a $97.00 price objective on shares of Intercept Pharmaceuticals in a research note on Monday. Bank of America started coverage on Intercept Pharmaceuticals in a research report on Thursday, March 5th. They set a “neutral” rating and a $111.00 price target for the company. Needham & Company LLC dropped their price target on Intercept Pharmaceuticals from $150.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday. BMO Capital Markets downgraded Intercept Pharmaceuticals from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $107.00 to $52.00 in a research note on Monday. Finally, Royal Bank of Canada downgraded shares of Intercept Pharmaceuticals from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $117.00 to $55.00 in a report on Monday. Nineteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $84.55.

NASDAQ:ICPT opened at $46.70 on Tuesday. The company has a debt-to-equity ratio of 10.32, a current ratio of 4.19 and a quick ratio of 4.19. Intercept Pharmaceuticals has a one year low of $44.50 and a one year high of $125.00. The company has a market cap of $2.55 billion, a PE ratio of -4.36 and a beta of 1.82. The firm has a 50-day moving average of $79.66 and a 200-day moving average of $88.43.

Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings results on Monday, May 11th. The biopharmaceutical company reported ($2.86) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.94) by $0.08. The business had revenue of $72.60 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned ($3.03) EPS. On average, equities research analysts expect that Intercept Pharmaceuticals will post -11.3 earnings per share for the current fiscal year.

In other news, Director Paolo Fundaro sold 595,578 shares of the stock in a transaction dated 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 transaction, the director now directly owns 19,433 shares in the company, valued at approximately $1,644,031.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 595,817 shares of company stock worth $50,405,516 in the last 90 days. Company insiders own 23.70% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement Association of Colorado grew its position in Intercept Pharmaceuticals by 20.9% during the first quarter. Public Employees Retirement Association of Colorado now owns 4,290 shares of the biopharmaceutical company’s stock valued at $270,000 after acquiring an additional 742 shares during the last quarter. Sarissa Capital Management LP boosted its stake in shares of Intercept Pharmaceuticals by 34.3% in the 1st quarter. Sarissa Capital Management LP now owns 1,155,000 shares of the biopharmaceutical company’s stock valued at $72,718,000 after purchasing an additional 295,000 shares in the last quarter. Twinbeech Capital LP bought a new position in shares of Intercept Pharmaceuticals during the 1st quarter valued at $928,000. Advisor Group Holdings Inc. purchased a new position in Intercept Pharmaceuticals in the 1st quarter worth $4,732,000. Finally, Engineers Gate Manager LP bought a new stake in Intercept Pharmaceuticals in the first quarter worth $1,467,000. 76.46% of the stock is owned by institutional investors and hedge funds.

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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