Intercept Pharmaceuticals (NASDAQ:ICPT) Rating Lowered to Sector Perform at Royal Bank of Canada

Intercept Pharmaceuticals (NASDAQ:ICPT) was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report issued on Monday, Marketbeat.com reports. They currently have a $55.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $117.00. Royal Bank of Canada’s price target would indicate a potential upside of 14.80% from the stock’s current price.

ICPT has been the subject of a number of other research reports. HC Wainwright assumed coverage on shares of Intercept Pharmaceuticals in a report on Thursday, June 25th. They set a “neutral” rating and a $92.00 price objective for the company. Raymond James lowered shares of Intercept Pharmaceuticals from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $145.00 to $115.00 in a research report on Friday, May 22nd. BidaskClub upgraded shares of Intercept Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. ValuEngine upgraded shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, May 3rd. Finally, Chardan Capital reissued a “buy” rating and set a $145.00 price target on shares of Intercept Pharmaceuticals in a research note on Tuesday, May 12th. Eighteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Intercept Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $81.48.

Shares of NASDAQ ICPT opened at $47.91 on Monday. 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 12-month low of $44.50 and a 12-month high of $125.00. The company’s fifty day simple moving average is $78.84 and its 200 day simple moving average is $88.09. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 10.32.

Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its earnings results 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 company had revenue of $72.60 million during 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 firm’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($3.03) earnings per share. On average, equities analysts predict that Intercept Pharmaceuticals will post -11.3 earnings per share for the current year.

In other news, Director Paolo Fundaro sold 595,578 shares of the company’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 595,817 shares of company stock valued at $50,405,516 in the last ninety days. Insiders own 23.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ICPT. Efficient Wealth Management LLC purchased a new stake in shares of Intercept Pharmaceuticals during the 1st quarter valued at about $31,000. PNC Financial Services Group Inc. increased its position 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 valued at $49,000 after purchasing an additional 234 shares during the last quarter. First Mercantile Trust Co. increased its position 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 valued at $59,000 after purchasing an additional 140 shares during the last quarter. Credit Agricole S A purchased a new stake in Intercept Pharmaceuticals in the 1st quarter worth approximately $76,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Intercept Pharmaceuticals by 17.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,080 shares of the biopharmaceutical company’s stock worth $131,000 after acquiring an additional 312 shares in the last quarter. 76.46% of the stock is owned by hedge funds and other institutional investors.

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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