Intercept Pharmaceuticals, Inc. (ICPT) Given New $73.00 Price Target at Bank of America Corporation

Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) had its target price lowered by research analysts at Bank of America Corporation from $102.00 to $73.00 in a note issued to investors on Friday. The firm presently has an “underperform” rating on the biopharmaceutical company’s stock. Bank of America Corporation’s price target suggests a potential upside of 7.69% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Wedbush reaffirmed a “buy” rating on shares of Intercept Pharmaceuticals in a research report on Monday, July 31st. BidaskClub raised shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $275.00 price target on shares of Intercept Pharmaceuticals in a research report on Sunday, July 30th. Zacks Investment Research raised shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $136.00 price target on the stock in a research report on Tuesday, July 11th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $112.00 price target (down previously from $232.00) on shares of Intercept Pharmaceuticals in a research report on Friday, September 22nd. Four investment 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 company. The stock currently has a consensus rating of “Hold” and an average target price of $153.76.

Shares of Intercept Pharmaceuticals (NASDAQ ICPT) traded down 1.8547% during mid-day trading on Friday, hitting $66.5327. The stock had a trading volume of 256,553 shares. The firm’s 50 day moving average price is $87.92 and its 200 day moving average price is $109.06. Intercept Pharmaceuticals has a 1-year low of $54.98 and a 1-year high of $147.52. The company’s market cap is $1.67 billion.

Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $27.50 million. During the same quarter last year, the firm earned ($3.14) EPS. The firm’s revenue for the quarter was up 459.6% compared to the same quarter last year. Analysts predict that Intercept Pharmaceuticals will post ($13.99) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This piece was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another domain, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/13/intercept-pharmaceuticals-inc-icpt-given-new-73-00-price-target-at-bank-of-america-corporation.html.

In other 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 transaction of $27,506.92. Following the completion of the transaction, the director now directly owns 3,710 shares in the company, valued at approximately $470,279.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lisa Bright sold 253 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $111.31, for a total transaction of $28,161.43. Following the transaction, the insider now owns 23,324 shares of the company’s stock, valued at $2,596,194.44. The disclosure for this sale can be found here. Insiders sold a total of 6,278 shares of company stock valued at $592,796 over the last quarter. 9.20% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Intercept Pharmaceuticals by 0.7% during the 2nd quarter. FMR LLC now owns 3,750,678 shares of the biopharmaceutical company’s stock valued at $454,094,000 after purchasing an additional 25,958 shares in the last quarter. Carmignac Gestion grew its position in shares of Intercept Pharmaceuticals by 0.4% during the 2nd quarter. Carmignac Gestion now owns 2,035,592 shares of the biopharmaceutical company’s stock valued at $246,449,000 after purchasing an additional 7,400 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Intercept Pharmaceuticals by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,328,133 shares of the biopharmaceutical company’s stock valued at $160,797,000 after purchasing an additional 57,149 shares in the last quarter. State Street Corp grew its position in shares of Intercept Pharmaceuticals by 7.3% during the 1st quarter. State Street Corp now owns 805,550 shares of the biopharmaceutical company’s stock valued at $91,110,000 after purchasing an additional 54,523

Other equities analysts have also recently issued research reports about the stock. Wedbush reaffirmed a “buy” rating on shares of Intercept Pharmaceuticals in a research report on Monday, July 31st. BidaskClub raised shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $275.00 price target on shares of Intercept Pharmaceuticals in a research report on Sunday, July 30th. Zacks Investment Research raised shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $136.00 price target on the stock in a research report on Tuesday, July 11th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $112.00 price target (down previously from $232.00) on shares of Intercept Pharmaceuticals in a research report on Friday, September 22nd. Four investment 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 company. The stock currently has a consensus rating of “Hold” and an average target price of $153.76.

Shares of Intercept Pharmaceuticals (NASDAQ ICPT) traded down 1.8547% during mid-day trading on Friday, hitting $66.5327. The stock had a trading volume of 256,553 shares. The firm’s 50 day moving average price is $87.92 and its 200 day moving average price is $109.06. Intercept Pharmaceuticals has a 1-year low of $54.98 and a 1-year high of $147.52. The company’s market cap is $1.67 billion.

Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $27.50 million. During the same quarter last year, the firm earned ($3.14) EPS. The firm’s revenue for the quarter was up 459.6% compared to the same quarter last year. Analysts predict that Intercept Pharmaceuticals will post ($13.99) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This piece was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another domain, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/13/intercept-pharmaceuticals-inc-icpt-given-new-73-00-price-target-at-bank-of-america-corporation.html.

In other 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 transaction of $27,506.92. Following the completion of the transaction, the director now directly owns 3,710 shares in the company, valued at approximately $470,279.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lisa Bright sold 253 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $111.31, for a total transaction of $28,161.43. Following the transaction, the insider now owns 23,324 shares of the company’s stock, valued at $2,596,194.44. The disclosure for this sale can be found here. Insiders sold a total of 6,278 shares of company stock valued at $592,796 over the last quarter. 9.20% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Intercept Pharmaceuticals by 0.7% during the 2nd quarter. FMR LLC now owns 3,750,678 shares of the biopharmaceutical company’s stock valued at $454,094,000 after purchasing an additional 25,958 shares in the last quarter. Carmignac Gestion grew its position in shares of Intercept Pharmaceuticals by 0.4% during the 2nd quarter. Carmignac Gestion now owns 2,035,592 shares of the biopharmaceutical company’s stock valued at $246,449,000 after purchasing an additional 7,400 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Intercept Pharmaceuticals by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,328,133 shares of the biopharmaceutical company’s stock valued at $160,797,000 after purchasing an additional 57,149 shares in the last quarter. State Street Corp grew its position in shares of Intercept Pharmaceuticals by 7.3% during the 1st quarter. State Street Corp now owns 805,550 shares of the biopharmaceutical company’s stock valued at $91,110,000 after purchasing an additional 54,523 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of Intercept Pharmaceuticals by 17.0% during the 2nd quarter. First Trust Advisors LP now owns 287,411 shares of the biopharmaceutical company’s stock valued at $34,797,000 after purchasing an additional 41,856 shares in the last quarter. Hedge funds and other institutional investors own 82.19% 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.

Analyst Recommendations for Intercept Pharmaceuticals (NASDAQ:ICPT)

Receive News & Ratings for Intercept Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercept Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply