Credit Suisse Group Downgrades Intercept Pharmaceuticals (NASDAQ:ICPT) to Neutral

Intercept Pharmaceuticals (NASDAQ:ICPT) was downgraded by analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a report released on Monday, MarketBeat reports. They presently have a $59.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $137.00. Credit Suisse Group’s price objective would suggest a potential upside of 23.15% from the company’s previous close.

A number of other equities analysts also recently commented on ICPT. Needham & Company LLC reissued a “buy” rating and set a $150.00 price objective on shares of Intercept Pharmaceuticals in a research report on Monday, May 11th. Cantor Fitzgerald downgraded Intercept Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research report on Tuesday. Wedbush reissued a “buy” rating and set a $257.00 price objective on shares of Intercept Pharmaceuticals in a research report on Thursday, May 14th. Robert W. Baird reissued a “buy” rating and set a $227.00 price objective on shares of Intercept Pharmaceuticals in a research report on Friday, May 22nd. Finally, Chardan Capital reissued a “buy” rating and set a $145.00 price objective on shares of Intercept Pharmaceuticals in a research report on Tuesday, May 12th. Eighteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $81.48.

NASDAQ ICPT opened at $47.91 on Monday. The company has a market cap of $2.55 billion, a P/E ratio of -4.47 and a beta of 1.82. 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 stock has a 50-day moving average of $78.84 and a two-hundred day moving average of $88.09. Intercept Pharmaceuticals has a 1-year low of $44.50 and a 1-year high of $125.00.

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

In other Intercept Pharmaceuticals 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 value of $50,385,898.80. Following the completion of the sale, the director now owns 19,433 shares in the company, valued at $1,644,031.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders sold 595,817 shares of company stock valued at $50,405,516. 23.70% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Mercantile Trust Co. lifted its stake in Intercept Pharmaceuticals by 17.5% in the first 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 during the last quarter. PNC Financial Services Group Inc. lifted its stake in Intercept Pharmaceuticals by 42.1% in the first quarter. PNC Financial Services Group Inc. now owns 790 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 234 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Intercept Pharmaceuticals by 3.0% in the first quarter. Principal Financial Group Inc. now owns 8,275 shares of the biopharmaceutical company’s stock valued at $521,000 after buying an additional 243 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Intercept Pharmaceuticals by 6.7% in the fourth quarter. Victory Capital Management Inc. now owns 3,895 shares of the biopharmaceutical company’s stock valued at $483,000 after buying an additional 244 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Intercept Pharmaceuticals by 17.6% in the first 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 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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