Intercept Pharmaceuticals (NASDAQ:ICPT) Downgraded by Wells Fargo & Co to Equal Weight

Intercept Pharmaceuticals (NASDAQ:ICPT) was downgraded by stock analysts at Wells Fargo & Co from an “overweight” rating to an “equal weight” rating in a report issued on Monday, MarketBeat reports. They currently have a $46.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $146.00. Wells Fargo & Co‘s price target indicates a potential downside of 3.99% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. B. Riley reiterated a “buy” rating and issued a $158.00 price objective on shares of Intercept Pharmaceuticals in a research report on Friday, May 22nd. Royal Bank of Canada reiterated a “buy” rating and issued a $117.00 price objective on shares of Intercept Pharmaceuticals in a research report on Wednesday, April 8th. Bank of America assumed coverage on Intercept Pharmaceuticals in a research report on Thursday, March 5th. They issued a “neutral” rating and a $111.00 price objective on the stock. BidaskClub upgraded Intercept Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $227.00 price objective on shares of Intercept Pharmaceuticals in a research report on Friday, May 22nd. Eighteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $81.48.

ICPT opened at $47.91 on Monday. The stock’s 50 day simple moving average is $78.84 and its 200 day simple moving average is $88.09. 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 1 year low of $44.50 and a 1 year high of $125.00. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -4.47 and a beta of 1.82.

Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings results on Monday, May 11th. The biopharmaceutical company reported ($2.86) earnings per share (EPS) for the quarter, topping 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 business had revenue of $72.60 million for the quarter, compared to analyst estimates of $69.67 million. During the same period last year, the company earned ($3.03) EPS. Intercept Pharmaceuticals’s revenue for the quarter was up 39.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intercept Pharmaceuticals will post -11.3 EPS for the current year.

In other Intercept Pharmaceuticals news, Director Paolo Fundaro sold 595,578 shares of Intercept Pharmaceuticals stock in a transaction 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 completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 595,817 shares of company stock valued at $50,405,516 in the last quarter. 23.70% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Public Employees Retirement Association of Colorado raised its stake 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 buying an additional 742 shares during the last quarter. Sarissa Capital Management LP raised its stake in 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 valued at $72,718,000 after buying an additional 295,000 shares during the last quarter. Twinbeech Capital LP purchased a new position in Intercept Pharmaceuticals during the first quarter valued at $928,000. Advisor Group Holdings Inc. purchased a new position in Intercept Pharmaceuticals during the first quarter valued at $4,732,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Intercept Pharmaceuticals in the first quarter worth $1,467,000. 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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