BidaskClub Upgrades Intercept Pharmaceuticals (ICPT) to “Strong-Buy”

Intercept Pharmaceuticals (NASDAQ:ICPT) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday.

Several other equities analysts have also weighed in on the stock. ValuEngine upgraded shares of Intercept Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday. Raymond James assumed coverage on shares of Intercept Pharmaceuticals in a report on Thursday, June 28th. They issued a “strong-buy” rating and a $122.00 price objective on the stock. Wedbush reiterated a “buy” rating on shares of Intercept Pharmaceuticals in a report on Friday, May 18th. Cowen reiterated a “buy” rating and issued a $88.00 price objective on shares of Intercept Pharmaceuticals in a report on Wednesday, May 9th. Finally, Oppenheimer reiterated a “hold” rating on shares of Intercept Pharmaceuticals in a report on Tuesday, May 8th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Intercept Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $124.90.

Intercept Pharmaceuticals opened at $88.65 on Wednesday, MarketBeat reports. The company has a current ratio of 4.58, a quick ratio of 4.58 and a debt-to-equity ratio of -6.88. The firm has a market cap of $2.62 billion, a P/E ratio of -6.16 and a beta of -1.67. Intercept Pharmaceuticals has a twelve month low of $51.05 and a twelve month high of $135.59.

Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($3.22) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.41) by $0.19. The business had revenue of $35.96 million for the quarter, compared to analyst estimates of $38.44 million. Intercept Pharmaceuticals had a negative net margin of 241.33% and a negative return on equity of 573.64%. The business’s quarterly revenue was up 70.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.61) EPS. sell-side analysts forecast that Intercept Pharmaceuticals will post -11.33 EPS for the current year.

In related news, CEO Mark Pruzanski bought 7,812 shares of the company’s stock in a transaction dated Monday, April 9th. The stock was bought at an average price of $64.00 per share, with a total value of $499,968.00. Following the transaction, the chief executive officer now owns 11,642 shares of the company’s stock, valued at $745,088. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Keith Michael Gottesdiener bought 1,171 shares of the company’s stock in a transaction dated Monday, April 9th. The stock was bought at an average cost of $64.00 per share, with a total value of $74,944.00. Following the transaction, the director now directly owns 5,001 shares in the company, valued at approximately $320,064. The disclosure for this purchase can be found here. Insiders bought a total of 399,608 shares of company stock valued at $25,574,912 in the last three months. Insiders own 4.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Elk Creek Partners LLC bought a new stake in shares of Intercept Pharmaceuticals during the 1st quarter valued at about $21,437,000. Point72 Asset Management L.P. grew its position in shares of Intercept Pharmaceuticals by 925.1% during the 1st quarter. Point72 Asset Management L.P. now owns 281,900 shares of the biopharmaceutical company’s stock valued at $17,342,000 after buying an additional 254,400 shares during the last quarter. Sarissa Capital Management LP bought a new stake in shares of Intercept Pharmaceuticals during the 4th quarter valued at about $10,649,000. Senvest Management LLC grew its position in shares of Intercept Pharmaceuticals by 18.7% during the 1st quarter. Senvest Management LLC now owns 1,152,032 shares of the biopharmaceutical company’s stock valued at $70,873,000 after buying an additional 181,106 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Intercept Pharmaceuticals by 168.9% during the 1st quarter. Millennium Management LLC now owns 235,180 shares of the biopharmaceutical company’s stock valued at $14,468,000 after buying an additional 147,719 shares during the last quarter. 66.28% of the stock is owned by institutional investors.

Intercept Pharmaceuticals Company Profile

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).

Analyst Recommendations for Intercept Pharmaceuticals (NASDAQ:ICPT)

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