Cantor Fitzgerald Reiterates “Underweight” Rating for Intercept Pharmaceuticals, Inc. (ICPT)
Cantor Fitzgerald reiterated their underweight rating on shares of Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) in a research note published on Tuesday morning. Cantor Fitzgerald currently has a $69.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $60.00.
“In AESOP, OCA-treated PSC patients demonstrated significant decrease from baseline in alkaline phosphatase (ALP) of -22% compared with placebo-treated patients’ increase of +1% at 24 weeks,” the firm said.”Additionally, CONTROL demonstrated atorvastatin’s ability to reduce elevations of LDL-C in OCA-treated patients by 40-48mg/dL.,” Cantor Fitzgerald’s analyst wrote.
A number of other research firms have also recently weighed in on ICPT. BidaskClub cut shares of Intercept Pharmaceuticals from a buy rating to a hold rating in a research note on Friday, August 4th. Laidlaw reaffirmed a hold rating and set a $119.00 target price (up previously from $115.00) on shares of Intercept Pharmaceuticals in a research note on Tuesday, August 1st. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and set a $200.00 target price on shares of Intercept Pharmaceuticals in a research note on Tuesday, August 1st. BMO Capital Markets boosted their target price on shares of Intercept Pharmaceuticals from $218.00 to $221.00 and gave the stock an outperform rating in a research note on Tuesday, August 1st. Finally, Wedbush reaffirmed a buy rating on shares of Intercept Pharmaceuticals in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $203.67.
Shares of Intercept Pharmaceuticals (NASDAQ ICPT) traded up 2.05% on Tuesday, reaching $103.19. The company’s stock had a trading volume of 343,264 shares. The company’s market cap is $2.59 billion. The firm has a 50 day moving average of $120.81 and a 200 day moving average of $117.78. Intercept Pharmaceuticals has a 52-week low of $96.63 and a 52-week high of $172.95.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings data on Monday, July 31st. The biopharmaceutical company reported ($3.46) EPS for the quarter, beating the consensus estimate of ($3.62) by $0.16. Intercept Pharmaceuticals had a negative net margin of 543.35% and a negative return on equity of 135.24%. The business had revenue of $30.89 million during the quarter, compared to the consensus estimate of $27.50 million. During the same period in the previous year, the business earned ($3.14) earnings per share. The company’s revenue was up 459.6% on a year-over-year basis. Analysts predict that Intercept Pharmaceuticals will post ($14.05) earnings per share for the current year.
In related news, Director Daniel G. Welch sold 217 shares of the business’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 sale, the director now owns 3,710 shares of the company’s stock, valued at $470,279.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Lisa Bright sold 254 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $117.52, for a total transaction of $29,850.08. Following the completion of the sale, the insider now directly owns 23,246 shares in the company, valued at approximately $2,731,869.92. The disclosure for this sale can be found here. In the last three months, insiders sold 47,575 shares of company stock worth $6,144,469. 9.20% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of ICPT. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Intercept Pharmaceuticals by 14.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,047 shares of the biopharmaceutical company’s stock worth $118,000 after buying an additional 132 shares during the period. US Bancorp DE purchased a new stake in shares of Intercept Pharmaceuticals during the first quarter worth approximately $130,000. IFP Advisors Inc boosted its stake in shares of Intercept Pharmaceuticals by 128.1% in the second quarter. IFP Advisors Inc now owns 1,300 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 730 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Intercept Pharmaceuticals during the first quarter worth approximately $170,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Intercept Pharmaceuticals by 21.6% in the first quarter. Pacer Advisors Inc. now owns 1,861 shares of the biopharmaceutical company’s stock worth $210,000 after buying an additional 330 shares during the period. 83.93% of the stock is currently owned by institutional investors and hedge funds.
Intercept Pharmaceuticals Company Profile
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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