Intercept Pharmaceuticals (NASDAQ:ICPT) Rating Lowered to Market Perform at Raymond James

Intercept Pharmaceuticals (NASDAQ:ICPT) was downgraded by Raymond James from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, The Fly reports.

A number of other equities research analysts have also commented on ICPT. Stifel Nicolaus dropped their price objective on shares of Intercept Pharmaceuticals from $100.00 to $51.00 and set a “hold” rating on the stock in a report on Monday. Wells Fargo & Co lowered shares of Intercept Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $146.00 to $46.00 in a report on Monday. Robert W. Baird restated a “buy” rating and set a $227.00 price objective on shares of Intercept Pharmaceuticals in a report on Friday, May 22nd. BMO Capital Markets lowered shares of Intercept Pharmaceuticals from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $107.00 to $52.00 in a report on Monday. Finally, Needham & Company LLC restated a “buy” rating and set a $150.00 price objective on shares of Intercept Pharmaceuticals in a report on Monday, May 11th. Eighteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $81.48.

ICPT opened at $47.91 on Monday. The firm’s fifty day moving average is $78.84 and its two-hundred day moving average is $88.09. 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 has a market cap of $2.55 billion, a PE ratio of -4.47 and a beta of 1.82. Intercept Pharmaceuticals has a twelve month low of $44.50 and a twelve month high of $125.00.

Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its quarterly earnings data on Monday, May 11th. The biopharmaceutical company reported ($2.86) EPS for the quarter, topping 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 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 business posted ($3.03) earnings per share. The firm’s quarterly revenue was up 39.1% on a year-over-year basis. Equities analysts forecast that Intercept Pharmaceuticals will post -11.3 EPS for the current fiscal year.

In related news, Director Paolo Fundaro sold 595,578 shares of Intercept Pharmaceuticals stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $84.60, for a total transaction of $50,385,898.80. Following the completion of the sale, the director now owns 19,433 shares of the company’s stock, valued at approximately $1,644,031.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 595,817 shares of company stock valued at $50,405,516 in the last ninety days. 23.70% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Efficient Wealth Management LLC bought a new stake in shares of Intercept Pharmaceuticals during the 1st quarter worth about $31,000. PNC Financial Services Group Inc. boosted its holdings in shares of Intercept Pharmaceuticals by 42.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 790 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 234 shares during the period. First Mercantile Trust Co. boosted its holdings in shares of Intercept Pharmaceuticals by 17.5% during the 1st quarter. First Mercantile Trust Co. now owns 938 shares of the biopharmaceutical company’s stock worth $59,000 after buying an additional 140 shares during the period. Credit Agricole S A bought a new stake in shares of Intercept Pharmaceuticals during the 1st quarter worth about $76,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Intercept Pharmaceuticals by 17.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,080 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 312 shares during the period. 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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