Intercept Pharmaceuticals Inc (NASDAQ:ICPT) – Equities research analysts at B. Riley dropped their Q2 2019 earnings estimates for Intercept Pharmaceuticals in a report issued on Wednesday, May 8th. B. Riley analyst M. Mamtani now anticipates that the biopharmaceutical company will earn ($2.33) per share for the quarter, down from their prior estimate of ($2.24). B. Riley has a “Buy” rating and a $169.00 price objective on the stock. B. Riley also issued estimates for Intercept Pharmaceuticals’ Q3 2019 earnings at ($1.67) EPS, Q4 2019 earnings at ($1.66) EPS, FY2019 earnings at ($8.59) EPS, FY2020 earnings at ($2.71) EPS, FY2021 earnings at $4.39 EPS, FY2022 earnings at $9.69 EPS and FY2023 earnings at $10.29 EPS.
Several other analysts also recently weighed in on the stock. Cowen reissued a “buy” rating and issued a $149.00 price target on shares of Intercept Pharmaceuticals in a research note on Wednesday. Wells Fargo & Co raised shares of Intercept Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $90.02 price target for the company in a research note on Thursday, May 2nd. Oppenheimer lowered their price target on shares of Intercept Pharmaceuticals from $175.00 to $170.00 in a research note on Monday, April 29th. BidaskClub downgraded shares of Intercept Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Finally, Wedbush set a $251.00 price target on shares of Intercept Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, April 12th. Three analysts have rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $146.05.
Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($3.03) earnings per share for the quarter, missing the consensus estimate of ($2.57) by ($0.46). The business had revenue of $52.25 million during the quarter, compared to the consensus estimate of $52.15 million. Intercept Pharmaceuticals had a negative return on equity of 592.58% and a negative net margin of 172.39%. The business’s revenue for the quarter was up 45.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($3.22) earnings per share.
In related news, Director Srinivas Akkaraju sold 23,438 shares of the business’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $128.78, for a total transaction of $3,018,345.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Shapiro sold 2,000 shares of the business’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $111.51, for a total transaction of $223,020.00. Following the transaction, the insider now owns 42,543 shares in the company, valued at approximately $4,743,969.93. The disclosure for this sale can be found here. Insiders sold 34,504 shares of company stock worth $4,142,507 in the last 90 days. Corporate insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ICPT. Financial Gravity Wealth Inc. purchased a new position in shares of Intercept Pharmaceuticals during the first quarter valued at about $33,000. Intercontinental Wealth Advisors LLC purchased a new position in shares of Intercept Pharmaceuticals during the fourth quarter valued at about $34,000. Advisor Group Inc. increased its position in shares of Intercept Pharmaceuticals by 63.5% during the fourth quarter. Advisor Group Inc. now owns 739 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 287 shares during the period. Strs Ohio increased its position in shares of Intercept Pharmaceuticals by 30.0% during the fourth quarter. Strs Ohio now owns 1,300 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 300 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Intercept Pharmaceuticals by 14.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,416 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 183 shares during the period. Institutional investors own 70.33% of the company’s stock.
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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