B. Riley Reiterates “Buy” Rating for Intercept Pharmaceuticals (NASDAQ:ICPT)

Intercept Pharmaceuticals (NASDAQ:ICPT)‘s stock had its “buy” rating restated by stock analysts at B. Riley in a note issued to investors on Wednesday, May 8th, Marketbeat.com reports. They currently have a $169.00 price objective on the biopharmaceutical company’s stock. B. Riley’s price target would suggest a potential upside of 104.06% from the company’s current price. B. Riley also issued estimates for Intercept Pharmaceuticals’ Q2 2019 earnings at ($2.33) EPS, Q3 2019 earnings at ($1.67) EPS, Q4 2019 earnings at ($1.66) EPS, FY2019 earnings at ($8.59) EPS, FY2020 earnings at ($2.71) EPS, FY2021 earnings at $4.39 EPS, FY2022 earnings at $9.69 EPS and FY2023 earnings at $10.29 EPS.

A number of other brokerages have also weighed in on ICPT. Oppenheimer reduced their price target on Intercept Pharmaceuticals from $175.00 to $170.00 in a research note on Monday, April 29th. Laidlaw raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and increased their target price for the stock from $99.00 to $130.00 in a research report on Monday, January 14th. Jefferies Financial Group increased their target price on Intercept Pharmaceuticals to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 28th. Needham & Company LLC upgraded Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Thursday, January 24th. Finally, UBS Group began coverage on Intercept Pharmaceuticals in a report on Wednesday, January 23rd. They issued a “buy” rating and a $130.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $145.67.

ICPT opened at $82.82 on Wednesday. The company has a market capitalization of $2.55 billion, a P/E ratio of -7.63 and a beta of 1.49. The company has a debt-to-equity ratio of 19.41, a quick ratio of 3.72 and a current ratio of 3.72. Intercept Pharmaceuticals has a 1-year low of $65.63 and a 1-year high of $133.74.

Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($3.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.57) by ($0.46). The firm had revenue of $52.25 million during the quarter, compared to analyst estimates of $52.15 million. Intercept Pharmaceuticals had a negative return on equity of 617.23% and a negative net margin of 162.49%. The business’s revenue was up 45.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($3.22) EPS. As a group, equities research analysts forecast that Intercept Pharmaceuticals will post -9.9 earnings per share for the current fiscal year.

In other Intercept Pharmaceuticals news, Director Luca Benatti purchased 1,200 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were bought at an average price of $83.50 per share, with a total value of $100,200.00. Following the completion of the acquisition, the director now owns 7,556 shares in the company, valued at approximately $630,926. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Shapiro sold 2,000 shares of Intercept Pharmaceuticals stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $86.28, for a total value of $172,560.00. Following the sale, the insider now directly owns 41,499 shares in the company, valued at approximately $3,580,533.72. The disclosure for this sale can be found here. Insiders sold 6,733 shares of company stock worth $660,470 in the last three months. 4.90% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. FMR LLC lifted its stake in shares of Intercept Pharmaceuticals by 0.3% in the 4th quarter. FMR LLC now owns 4,448,170 shares of the biopharmaceutical company’s stock valued at $448,331,000 after purchasing an additional 13,468 shares during the last quarter. Vanguard Group Inc. lifted its position in Intercept Pharmaceuticals by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,952,931 shares of the biopharmaceutical company’s stock worth $246,772,000 after acquiring an additional 54,038 shares during the last quarter. BB Biotech AG lifted its position in Intercept Pharmaceuticals by 5.5% during the 4th quarter. BB Biotech AG now owns 575,719 shares of the biopharmaceutical company’s stock worth $58,027,000 after acquiring an additional 30,000 shares during the last quarter. Two Sigma Investments LP lifted its position in Intercept Pharmaceuticals by 38.5% during the 4th quarter. Two Sigma Investments LP now owns 310,187 shares of the biopharmaceutical company’s stock worth $31,264,000 after acquiring an additional 86,171 shares during the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in Intercept Pharmaceuticals during the 4th quarter worth $28,792,000. 76.23% of the stock is currently owned by hedge funds and other institutional investors.

About Intercept Pharmaceuticals

Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics to treat progressive non-viral liver diseases. It markets Ocaliva, an farnesoid X receptor agonist approved in the United States, the European Union, and other jurisdictions for the treatment of primary biliary cholangitis (PBC) in combination with ursodeoxycholic acid in adults.

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Analyst Recommendations for Intercept Pharmaceuticals (NASDAQ:ICPT)

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