Intercept Pharmaceuticals, Inc. to Post FY2017 Earnings of ($13.05) Per Share, Leerink Swann Forecasts (ICPT)
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) – Equities researchers at Leerink Swann lifted their FY2017 EPS estimates for Intercept Pharmaceuticals in a note issued to investors on Wednesday. Leerink Swann analyst J. Schwartz now forecasts that the biopharmaceutical company will post earnings per share of ($13.05) for the year, up from their previous estimate of ($14.80). Leerink Swann has a “Market Perform” rating and a $66.00 price target on the stock. Leerink Swann also issued estimates for Intercept Pharmaceuticals’ Q4 2017 earnings at ($3.09) EPS, FY2018 earnings at ($13.10) EPS and FY2019 earnings at ($10.98) EPS.
Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($2.89) EPS for the quarter, beating analysts’ consensus estimates of ($3.48) by $0.59. The firm had revenue of $41.33 million for the quarter, compared to analyst estimates of $36.95 million. Intercept Pharmaceuticals had a negative return on equity of 152.78% and a negative net margin of 344.74%. The company’s revenue for the quarter was up 697.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($3.59) EPS.
Several other analysts have also issued reports on ICPT. Laidlaw raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Wednesday, November 1st. Wedbush reissued an “outperform” rating and set a $253.00 target price on shares of Intercept Pharmaceuticals in a report on Friday, August 25th. Royal Bank Of Canada increased their target price on Intercept Pharmaceuticals from $200.00 to $244.00 and gave the stock an “outperform” rating in a report on Tuesday, September 26th. Cowen and Company reissued a “buy” rating and set a $112.00 target price on shares of Intercept Pharmaceuticals in a report on Wednesday, November 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intercept Pharmaceuticals in a research note on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Intercept Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $153.76.
Shares of Intercept Pharmaceuticals (NASDAQ:ICPT) opened at $65.22 on Monday. Intercept Pharmaceuticals has a 1-year low of $54.98 and a 1-year high of $135.59. The company has a debt-to-equity ratio of 2.05, a quick ratio of 6.61 and a current ratio of 6.61.
In other Intercept Pharmaceuticals news, CMO David Shapiro sold 1,250 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $117.43, for a total value of $146,787.50. Following the completion of the sale, the chief marketing officer now owns 45,812 shares of the company’s stock, valued at $5,379,703.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lisa Bright sold 253 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $111.31, for a total value of $28,161.43. Following the completion of the sale, the insider now directly owns 23,324 shares of the company’s stock, valued at approximately $2,596,194.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,069 shares of company stock valued at $325,974. 4.50% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. WFG Advisors LP grew its stake in 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 acquiring an additional 125 shares during the period. IFP Advisors Inc grew its stake in Intercept Pharmaceuticals by 128.1% in the second quarter. IFP Advisors Inc now owns 1,300 shares of the biopharmaceutical company’s stock valued at $157,000 after acquiring an additional 730 shares during the period. Aperio Group LLC acquired a new stake in Intercept Pharmaceuticals in the second quarter valued at approximately $212,000. SG Americas Securities LLC acquired a new stake in Intercept Pharmaceuticals in the second quarter valued at approximately $235,000. Finally, QCM Cayman Ltd. purchased a new position in shares of Intercept Pharmaceuticals during the second quarter valued at approximately $237,000. 82.69% of the stock is owned by hedge funds and other institutional investors.
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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