Intercept Pharmaceuticals (NASDAQ:ICPT) Price Target Cut to $51.00

Intercept Pharmaceuticals (NASDAQ:ICPT) had its target price reduced by analysts at Stifel Nicolaus from $100.00 to $51.00 in a research note issued to investors on Monday, The Fly reports. The brokerage currently has a “hold” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 6.45% from the company’s previous close.

ICPT has been the topic of several other reports. BMO Capital Markets downgraded shares of Intercept Pharmaceuticals from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $107.00 to $52.00 in a report on Monday. HC Wainwright initiated coverage on shares of Intercept Pharmaceuticals in a report on Thursday, June 25th. They set a “neutral” rating and a $92.00 price objective on the stock. BidaskClub raised shares of Intercept Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Goldman Sachs Group downgraded shares of Intercept Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $150.00 to $60.00 in a report on Monday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $150.00 price target on shares of Intercept Pharmaceuticals in a report on Monday, May 11th. Eighteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $81.48.

NASDAQ ICPT opened at $47.91 on Monday. The company has a market cap of $2.55 billion, a PE ratio of -4.47 and a beta of 1.82. Intercept Pharmaceuticals has a 52 week low of $44.50 and a 52 week 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 firm’s 50-day simple moving average is $78.84 and its two-hundred day simple moving average is $88.09.

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

In related news, Director Paolo Fundaro sold 595,578 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,644,031.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 595,817 shares of company stock worth $50,405,516 over the last ninety days. 23.70% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Efficient Wealth Management LLC bought a new position in Intercept Pharmaceuticals during the first quarter valued at approximately $31,000. PNC Financial Services Group Inc. grew its position in Intercept Pharmaceuticals by 42.1% during the first quarter. PNC Financial Services Group Inc. now owns 790 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 234 shares during the last quarter. First Mercantile Trust Co. grew its position in Intercept Pharmaceuticals by 17.5% during the first quarter. First Mercantile Trust Co. now owns 938 shares of the biopharmaceutical company’s stock valued at $59,000 after acquiring an additional 140 shares during the last quarter. Credit Agricole S A bought a new position in Intercept Pharmaceuticals during the first quarter valued at approximately $76,000. Finally, Sunbelt Securities Inc. bought a new position in Intercept Pharmaceuticals during the fourth quarter valued at approximately $41,823,000. 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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