Intercept Pharmaceuticals (NASDAQ:ICPT) Downgraded to Neutral at Goldman Sachs Group

Intercept Pharmaceuticals (NASDAQ:ICPT) was downgraded by Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. They presently have a $60.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $150.00. Goldman Sachs Group’s price objective would suggest a potential upside of 25.23% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on ICPT. Citigroup cut shares of Intercept Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $110.00 price objective on the stock. in a research note on Tuesday, May 12th. Bank of America initiated coverage on shares of Intercept Pharmaceuticals in a research note on Thursday, March 5th. They issued a “neutral” rating and a $111.00 price objective on the stock. Royal Bank of Canada cut shares of Intercept Pharmaceuticals from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $117.00 to $55.00 in a research report on Monday. Stifel Nicolaus reduced their price target on shares of Intercept Pharmaceuticals from $100.00 to $99.00 and set a “hold” rating on the stock in a research report on Tuesday, May 12th. Finally, Wedbush reissued a “buy” rating and set a $257.00 price target on shares of Intercept Pharmaceuticals in a research report on Thursday, May 14th. Eighteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Intercept Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $81.48.

Shares of ICPT stock opened at $47.91 on Monday. Intercept Pharmaceuticals has a 52-week low of $44.50 and a 52-week high of $125.00. The stock has a market cap of $2.55 billion, a PE ratio of -4.47 and a beta of 1.82. The company has a debt-to-equity ratio of 10.32, a quick ratio of 4.19 and a current ratio of 4.19. The firm’s 50 day moving average price is $78.84 and its two-hundred day moving average price is $88.09.

Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings data 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. Intercept Pharmaceuticals had a negative net margin of 127.53% and a negative return on equity of 430.51%. The firm had revenue of $72.60 million for the quarter, compared to analysts’ expectations of $69.67 million. During the same period last year, the firm earned ($3.03) earnings per share. The business’s revenue for the quarter was up 39.1% on a year-over-year basis. As a group, sell-side analysts predict that Intercept Pharmaceuticals will post -11.3 earnings per share for the current fiscal 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 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 in the company, valued at approximately $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 sold a total of 595,817 shares of company stock worth $50,405,516 over the last quarter. Company insiders own 23.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of ICPT. Victory Capital Management Inc. increased its stake 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 valued at $483,000 after buying an additional 244 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Intercept Pharmaceuticals by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 163,811 shares of the biopharmaceutical company’s stock valued at $20,300,000 after buying an additional 3,125 shares during the last quarter. National Asset Management Inc. acquired a new stake in Intercept Pharmaceuticals in the 4th quarter valued at $233,000. Envestnet Asset Management Inc. acquired a new stake in Intercept Pharmaceuticals in the 4th quarter valued at $299,000. Finally, EAM Investors LLC acquired a new stake in Intercept Pharmaceuticals in the 4th quarter valued at $1,575,000. Hedge funds and other 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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