Intercept Pharmaceuticals’ (ICPT) “Buy” Rating Reaffirmed at Wedbush

Wedbush reiterated their buy rating on shares of Intercept Pharmaceuticals (NASDAQ:ICPT) in a research report released on Monday morning, TipRanks reports. Wedbush currently has a $140.00 price objective on the biopharmaceutical company’s stock. Wedbush also issued estimates for Intercept Pharmaceuticals’ Q4 2020 earnings at ($2.93) EPS, FY2020 earnings at ($11.91) EPS, Q1 2021 earnings at ($2.80) EPS, Q2 2021 earnings at ($2.63) EPS, Q3 2021 earnings at ($2.49) EPS, Q4 2021 earnings at ($2.09) EPS, FY2021 earnings at ($10.00) EPS, FY2022 earnings at ($6.47) EPS, FY2023 earnings at ($0.99) EPS and FY2024 earnings at $12.18 EPS.

Other analysts have also recently issued research reports about the stock. Cantor Fitzgerald cut shares of Intercept Pharmaceuticals from an overweight rating to a neutral rating and set a $57.00 target price on the stock. in a report on Tuesday. BMO Capital Markets cut shares of Intercept Pharmaceuticals from an outperform rating to a market perform rating and decreased their price objective for the stock from $107.00 to $52.00 in a research report on Monday. BidaskClub raised Intercept Pharmaceuticals from a sell rating to a hold rating in a report on Saturday, April 18th. Chardan Capital restated a buy rating and issued a $145.00 price target on shares of Intercept Pharmaceuticals in a research note on Tuesday, May 12th. Finally, Credit Suisse Group cut Intercept Pharmaceuticals from an outperform rating to a neutral rating and lowered their price objective for the stock from $137.00 to $59.00 in a research report on Monday. Eighteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $74.13.

Shares of ICPT stock opened at $47.09 on Monday. The firm has a 50 day moving average of $77.14 and a two-hundred day moving average of $87.38. The stock has a market capitalization of $1.51 billion, a PE ratio of -4.39 and a beta of 1.79. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 10.32. Intercept Pharmaceuticals has a 52 week low of $44.50 and a 52 week high of $125.00.

Intercept Pharmaceuticals (NASDAQ:ICPT) last released its earnings results on Monday, May 11th. The biopharmaceutical company reported ($2.86) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.94) by $0.08. Intercept Pharmaceuticals had a negative return on equity of 430.51% and a negative net margin of 127.53%. The firm had revenue of $72.60 million during the quarter, compared to analyst estimates of $69.67 million. During the same period last year, the business posted ($3.03) earnings per share. Intercept Pharmaceuticals’s revenue was up 39.1% compared to the same quarter last year. Analysts expect that Intercept Pharmaceuticals will post -11.26 EPS for the current fiscal year.

In other Intercept Pharmaceuticals news, Director Paolo Fundaro sold 595,578 shares of Intercept Pharmaceuticals stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $84.60, for a total value of $50,385,898.80. Following the transaction, the director now directly owns 19,433 shares in the company, valued at approximately $1,644,031.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 595,817 shares of company stock valued at $50,405,516 over the last ninety days. 23.70% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the business. Efficient Wealth Management LLC acquired a new stake in shares of Intercept Pharmaceuticals in the 1st quarter worth $31,000. PNC Financial Services Group Inc. increased its stake in shares of Intercept Pharmaceuticals by 42.1% during the first quarter. PNC Financial Services Group Inc. now owns 790 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 234 shares during the period. First Mercantile Trust Co. raised its holdings in Intercept Pharmaceuticals by 17.5% during the first quarter. First Mercantile Trust Co. now owns 938 shares of the biopharmaceutical company’s stock worth $59,000 after purchasing an additional 140 shares in the last quarter. Credit Agricole S A acquired a new stake in Intercept Pharmaceuticals in the first quarter valued at about $76,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Intercept Pharmaceuticals by 17.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,080 shares of the biopharmaceutical company’s stock valued at $131,000 after purchasing an additional 312 shares during the period. Institutional investors own 76.46% of the company’s stock.

Intercept Pharmaceuticals Company Profile

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.

Read More: Blockchain

Analyst Recommendations for Intercept Pharmaceuticals (NASDAQ:ICPT)

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