Intercept Pharmaceuticals (NASDAQ:ICPT) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Intercept Pharmaceuticals (NASDAQ:ICPT) from a hold rating to a buy rating in a research report sent to investors on Tuesday, April 9th, BidAskClub reports.

Several other equities research analysts have also recently weighed in on the company. UBS Group boosted their price objective on Intercept Pharmaceuticals to $139.00 and gave the stock a buy rating in a research note on Thursday, March 28th. Wedbush reissued a buy rating and set a $251.00 price objective on shares of Intercept Pharmaceuticals in a research note on Wednesday, March 27th. Oppenheimer reissued a buy rating on shares of Intercept Pharmaceuticals in a research note on Tuesday, March 19th. Royal Bank of Canada raised Intercept Pharmaceuticals from a sector perform rating to an outperform rating and set a $130.00 price objective on the stock in a research note on Friday, March 1st. Finally, B. Riley reaffirmed a buy rating and set a $169.00 target price (up previously from $155.00) on shares of Intercept Pharmaceuticals in a research note on Thursday, February 28th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $143.14.

Shares of NASDAQ:ICPT traded up $1.71 during mid-day trading on Tuesday, reaching $89.92. The stock had a trading volume of 707,386 shares, compared to its average volume of 987,381. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 19.41. The company has a market capitalization of $2.68 billion, a P/E ratio of -8.28 and a beta of 1.50. Intercept Pharmaceuticals has a 1 year low of $65.63 and a 1 year high of $133.74.

Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its earnings results on Thursday, February 28th. The biopharmaceutical company reported ($2.97) EPS for the quarter, missing analysts’ consensus estimates of ($2.42) by ($0.55). Intercept Pharmaceuticals had a negative return on equity of 592.58% and a negative net margin of 172.39%. The firm had revenue of $53.30 million during the quarter, compared to analysts’ expectations of $52.53 million. During the same quarter in the prior year, the firm posted ($4.43) earnings per share. Intercept Pharmaceuticals’s quarterly revenue was up 41.4% on a year-over-year basis. On average, research analysts forecast that Intercept Pharmaceuticals will post -9.06 earnings per share for the current year.

In related news, Director Srinivas Akkaraju sold 23,438 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $128.78, for a total value of $3,018,345.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider David Shapiro sold 2,000 shares of the stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $111.51, for a total value of $223,020.00. Following the completion of the transaction, the insider now directly owns 42,543 shares in the company, valued at approximately $4,743,969.93. The disclosure for this sale can be found here. In the last three months, insiders sold 34,504 shares of company stock worth $4,142,507. 4.90% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of ICPT. FMR LLC lifted its holdings in shares of Intercept Pharmaceuticals by 0.3% during the 4th quarter. FMR LLC now owns 4,448,170 shares of the biopharmaceutical company’s stock valued at $448,331,000 after purchasing an additional 13,468 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Intercept Pharmaceuticals by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,952,931 shares of the biopharmaceutical company’s stock valued at $246,772,000 after acquiring an additional 54,038 shares during the period. Vanguard Group Inc increased its position in shares of Intercept Pharmaceuticals by 2.8% in the 3rd quarter. Vanguard Group Inc now owns 1,952,931 shares of the biopharmaceutical company’s stock valued at $246,772,000 after acquiring an additional 54,038 shares during the period. BB Biotech AG increased its position in shares of Intercept Pharmaceuticals by 5.5% in the 4th quarter. BB Biotech AG now owns 575,719 shares of the biopharmaceutical company’s stock valued at $58,027,000 after acquiring an additional 30,000 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Intercept Pharmaceuticals by 24.9% in the 3rd quarter. Deutsche Bank AG now owns 438,720 shares of the biopharmaceutical company’s stock valued at $55,435,000 after acquiring an additional 87,473 shares during the period. Institutional investors own 70.30% 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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