JMP Securities Downgrades Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) to Market Perform
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) was downgraded by analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, October 4th, Marketbeat reports.
A number of other equities analysts have also issued reports on ICPT. Wedbush reaffirmed an “outperform” rating and issued a $253.00 target price on shares of Intercept Pharmaceuticals in a research report on Friday, August 25th. Royal Bank Of Canada upped their target price on Intercept Pharmaceuticals from $200.00 to $244.00 and gave the company an “outperform” rating in a research report on Tuesday, September 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intercept Pharmaceuticals in a research report on Tuesday, September 26th. Cantor Fitzgerald reiterated an “underweight” rating and issued a $69.00 price target (up from $60.00) on shares of Intercept Pharmaceuticals in a report on Monday, July 31st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $135.00 price target (down from $275.00) on shares of Intercept Pharmaceuticals in a report on Tuesday, September 26th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $153.76.
Intercept Pharmaceuticals (NASDAQ:ICPT) traded down 3.39% during mid-day trading on Wednesday, hitting $65.49. 1,049,123 shares of the company were exchanged. The firm has a 50 day moving average price of $86.63 and a 200 day moving average price of $108.69. Intercept Pharmaceuticals has a 12 month low of $54.98 and a 12 month high of $142.10. The stock’s market cap is $1.64 billion.
Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) EPS for the quarter, topping the consensus estimate of ($3.62) by $0.16. Intercept Pharmaceuticals had a negative return on equity of 135.24% and a negative net margin of 543.35%. The firm had revenue of $30.89 million for the quarter, compared to analyst estimates of $27.50 million. During the same period in the previous year, the company posted ($3.14) EPS. Intercept Pharmaceuticals’s revenue for the quarter was up 459.6% on a year-over-year basis. Analysts anticipate that Intercept Pharmaceuticals will post ($13.99) EPS for the current fiscal year.
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In other news, CEO Mark Pruzanski sold 1,532 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $58.87, for a total value of $90,188.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel G. Welch sold 217 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $126.76, for a total value of $27,506.92. Following the completion of the sale, the director now owns 3,710 shares of the company’s stock, valued at approximately $470,279.60. The disclosure for this sale can be found here. Insiders have sold a total of 6,278 shares of company stock valued at $592,796 in the last quarter. 9.20% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the company. WFG Advisors LP lifted its holdings in shares of Intercept Pharmaceuticals by 16.4% in the second quarter. WFG Advisors LP now owns 888 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 125 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Intercept Pharmaceuticals by 14.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,047 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 132 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Intercept Pharmaceuticals during the first quarter valued at $130,000. IFP Advisors Inc lifted its holdings in shares of Intercept Pharmaceuticals by 128.1% during the second quarter. IFP Advisors Inc now owns 1,300 shares of the biopharmaceutical company’s stock valued at $157,000 after purchasing an additional 730 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Intercept Pharmaceuticals during the first quarter valued at $170,000. Institutional investors and hedge funds own 82.19% of the company’s stock.
About Intercept Pharmaceuticals
Intercept Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat non-viral, progressive liver diseases. The Company’s product candidates have the potential to treat orphan and more prevalent diseases for which there are limited therapeutic solutions.
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