Intercept Pharmaceuticals (ICPT) Shares Down 7.2%

Intercept Pharmaceuticals Inc (NASDAQ:ICPT) fell 7.2% during trading on Wednesday . The stock traded as low as $78.00 and last traded at $78.78. 861,868 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 805,108 shares. The stock had previously closed at $84.91.

Several brokerages have commented on ICPT. BidaskClub upgraded shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. ValuEngine upgraded shares of Intercept Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 2nd. Wedbush reiterated a “buy” rating on shares of Intercept Pharmaceuticals in a research report on Friday, May 18th. Cowen reiterated a “buy” rating and issued a $88.00 price target on shares of Intercept Pharmaceuticals in a research report on Wednesday, May 9th. Finally, Oppenheimer reiterated a “hold” rating on shares of Intercept Pharmaceuticals in a research report on Tuesday, May 8th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company’s stock. Intercept Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $125.05.

The company has a quick ratio of 4.58, a current ratio of 4.58 and a debt-to-equity ratio of -6.88. The firm has a market capitalization of $2.42 billion, a PE ratio of -5.48 and a beta of -1.78.

Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings data on Tuesday, May 8th. The biopharmaceutical company reported ($3.22) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.41) by $0.19. The firm had revenue of $35.96 million for the quarter, compared to the consensus estimate of $38.44 million. Intercept Pharmaceuticals had a negative return on equity of 573.64% and a negative net margin of 241.33%. The business’s revenue for the quarter was up 70.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($3.61) EPS. equities research analysts forecast that Intercept Pharmaceuticals Inc will post -11.43 earnings per share for the current year.

In related news, major shareholder Francesco Micheli acquired 390,625 shares of the business’s stock in a transaction on Monday, April 9th. The shares were purchased at an average price of $64.00 per share, for a total transaction of $25,000,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Keith Michael Gottesdiener acquired 1,171 shares of the business’s stock in a transaction on Monday, April 9th. The shares were bought at an average price of $64.00 per share, for a total transaction of $74,944.00. Following the acquisition, the director now owns 5,001 shares in the company, valued at approximately $320,064. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 399,608 shares of company stock worth $25,574,912. Corporate insiders own 4.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. US Bancorp DE grew its stake in Intercept Pharmaceuticals by 821.6% during the 1st quarter. US Bancorp DE now owns 1,751 shares of the biopharmaceutical company’s stock valued at $108,000 after acquiring an additional 1,561 shares in the last quarter. DSC Advisors L.P. purchased a new position in Intercept Pharmaceuticals during the 4th quarter valued at about $204,000. Amalgamated Bank purchased a new position in Intercept Pharmaceuticals during the 4th quarter valued at about $209,000. Virtu Financial LLC purchased a new position in Intercept Pharmaceuticals during the 4th quarter valued at about $234,000. Finally, Opus Point Partners Management LLC grew its stake in Intercept Pharmaceuticals by 19.0% during the 1st quarter. Opus Point Partners Management LLC now owns 4,496 shares of the biopharmaceutical company’s stock valued at $277,000 after acquiring an additional 717 shares in the last quarter. 66.28% of the stock is currently owned by institutional investors.

About Intercept Pharmaceuticals

Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics in the United States, Europe, and Canada. Its lead product candidate is obeticholic acid (OCA), a bile acid analog, which has a structure based on a naturally occurring human bile acid that selectively binds to and activates the farnesoid X receptor (FXR).

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