Intercept Pharmaceuticals (ICPT) Upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research upgraded shares of Intercept Pharmaceuticals (NASDAQ:ICPT) from a sell rating to a hold rating in a research report released on Monday.
According to Zacks, “Intercept’s fourth-quarter results missed expectations as sales of Ocaliva declined due to safety issues surrounding the drug. The approval of Ocaliva was a significant boost for Intercept. However, prescription demand has softened following the Dear Health Care Provider letter and the FDA safety communication on Ocaliva. The company also announced an updated label for Ocaliva in the United States, reinforcing appropriate dosing in PBC patients with Child-P Class B or C or decompensated cirrhosis. While the updated label should help the stock turn around, it might be a while before the sales start to recover. First-quarter is expected to be a transitional quarter. Meanwhile, Intercept is evaluating Ocaliva for other indications including NASH and PSC. Given the challenges faced by the drug in recent times, the label expansion of OCA will boost the growth prospects. Shares have underperformed the industry in the last six months.”
A number of other brokerages also recently issued reports on ICPT. Oppenheimer reiterated a hold rating on shares of Intercept Pharmaceuticals in a research note on Monday, January 29th. Wedbush reiterated a buy rating and set a $253.00 price objective on shares of Intercept Pharmaceuticals in a research note on Friday, December 22nd. Citigroup set a $74.00 price objective on Intercept Pharmaceuticals and gave the company a hold rating in a research note on Thursday, December 21st. ValuEngine downgraded Intercept Pharmaceuticals from a sell rating to a strong sell rating in a research note on Friday, February 2nd. Finally, Robert W. Baird reiterated an outperform rating and set a $253.00 price objective (down from $332.00) on shares of Intercept Pharmaceuticals in a research note on Thursday, January 25th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. Intercept Pharmaceuticals currently has an average rating of Hold and a consensus price target of $128.75.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($4.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($3.39) by ($1.04). The company had revenue of $37.69 million for the quarter, compared to the consensus estimate of $39.01 million. Intercept Pharmaceuticals had a negative net margin of 275.18% and a negative return on equity of 207.27%. The company’s revenue was up 173.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($4.84) earnings per share. research analysts predict that Intercept Pharmaceuticals will post -13.16 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its position in shares of Intercept Pharmaceuticals by 48.2% during the 3rd quarter. Legal & General Group Plc now owns 8,856 shares of the biopharmaceutical company’s stock valued at $514,000 after acquiring an additional 2,882 shares during the last quarter. Senvest Management LLC bought a new position in shares of Intercept Pharmaceuticals during the 3rd quarter valued at approximately $33,883,000. Peregrine Capital Management LLC bought a new position in shares of Intercept Pharmaceuticals during the 4th quarter valued at approximately $7,055,000. FNY Managed Accounts LLC bought a new position in shares of Intercept Pharmaceuticals during the 3rd quarter valued at approximately $417,000. Finally, National Planning Corp boosted its position in shares of Intercept Pharmaceuticals by 36.2% during the 3rd quarter. National Planning Corp now owns 71,090 shares of the biopharmaceutical company’s stock valued at $4,675,000 after acquiring an additional 18,895 shares during the last quarter. Hedge funds and other institutional investors own 78.39% of the company’s stock.
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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