Intercept Pharmaceuticals (NASDAQ:ICPT) Stock Rating Lowered by BMO Capital Markets

Intercept Pharmaceuticals (NASDAQ:ICPT) was downgraded by BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report released on Monday, Marketbeat reports. They presently have a $52.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $107.00. BMO Capital Markets’ price objective points to a potential upside of 8.54% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. B. Riley restated a “buy” rating and set a $158.00 price target on shares of Intercept Pharmaceuticals in a research note on Friday, May 22nd. Canaccord Genuity lowered Intercept Pharmaceuticals from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research note on Monday. Citigroup lowered Intercept Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $110.00 price target on the stock. in a research note on Tuesday, May 12th. Raymond James lowered Intercept Pharmaceuticals from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $145.00 to $115.00 in a research note on Friday, May 22nd. Finally, Wedbush restated a “buy” rating and set a $257.00 price target on shares of Intercept Pharmaceuticals in a research note on Thursday, May 14th. Eighteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $81.48.

ICPT stock opened at $47.91 on Monday. 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 business’s fifty day simple moving average is $78.84 and its two-hundred day simple moving average is $88.09. Intercept Pharmaceuticals has a twelve month low of $44.50 and a twelve month 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 announced its quarterly earnings results on Monday, May 11th. The biopharmaceutical company reported ($2.86) EPS for the quarter, beating the consensus estimate of ($2.94) by $0.08. The firm had revenue of $72.60 million for the quarter, compared to analyst estimates of $69.67 million. Intercept Pharmaceuticals had a negative return on equity of 430.51% and a negative net margin of 127.53%. The business’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same quarter last year, the firm posted ($3.03) earnings per share. Research analysts expect 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 the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $84.60, for a total value 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 $1,644,031.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 595,817 shares of company stock valued at $50,405,516. Corporate insiders own 23.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in ICPT. Norges Bank acquired a new stake in shares of Intercept Pharmaceuticals during the fourth quarter worth about $37,422,000. Sarissa Capital Management LP lifted its holdings in shares of 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 worth $72,718,000 after purchasing an additional 295,000 shares during the period. Macquarie Group Ltd. lifted its holdings in shares of Intercept Pharmaceuticals by 50.5% during the fourth quarter. Macquarie Group Ltd. now owns 545,414 shares of the biopharmaceutical company’s stock worth $67,588,000 after purchasing an additional 183,072 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Intercept Pharmaceuticals by 37.5% during the first quarter. Two Sigma Advisers LP now owns 539,600 shares of the biopharmaceutical company’s stock worth $33,973,000 after purchasing an additional 147,200 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Intercept Pharmaceuticals during the fourth quarter worth about $11,425,000. 76.46% of the stock is owned by hedge funds and other institutional investors.

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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