Intercept Pharmaceuticals (NASDAQ:ICPT) Downgraded by Oppenheimer to Market Perform

Oppenheimer cut shares of Intercept Pharmaceuticals (NASDAQ:ICPT) from an outperform rating to a market perform rating in a research report sent to investors on Monday, BenzingaRatingsTable reports. The brokerage currently has $46.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $124.00. Oppenheimer also issued estimates for Intercept Pharmaceuticals’ Q2 2020 earnings at ($3.17) EPS, Q3 2020 earnings at ($3.12) EPS, Q4 2020 earnings at ($2.82) EPS, FY2020 earnings at ($11.96) EPS, FY2021 earnings at ($12.94) EPS, FY2022 earnings at ($11.84) EPS, FY2023 earnings at ($7.72) EPS and FY2024 earnings at ($2.84) EPS.

Several other research analysts also recently weighed in on ICPT. BMO Capital Markets assumed coverage on Intercept Pharmaceuticals in a research note on Thursday, June 4th. They issued an outperform rating and a $107.00 price target for the company. Wedbush restated a buy rating and issued a $257.00 price target on shares of Intercept Pharmaceuticals in a research note on Thursday, May 14th. Bank of America assumed coverage on Intercept Pharmaceuticals in a research note on Thursday, March 5th. They issued a neutral rating and a $111.00 price target for the company. Wells Fargo & Co downgraded Intercept Pharmaceuticals from an overweight rating to an equal weight rating and dropped their price target for the stock from $146.00 to $46.00 in a research note on Monday. Finally, B. Riley restated a buy rating and issued a $158.00 price target on shares of Intercept Pharmaceuticals in a research note on Friday, May 22nd. Eighteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $74.13.

Intercept Pharmaceuticals stock opened at $47.09 on Monday. The firm has a 50 day moving average of $77.14 and a 200 day moving average of $87.38. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -4.39 and a beta of 1.79. Intercept Pharmaceuticals has a 12-month low of $44.50 and a 12-month high of $125.00. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 10.32.

Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings results on Monday, May 11th. The biopharmaceutical company reported ($2.86) earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $72.60 million during the quarter, compared to the consensus estimate of $69.67 million. During the same period in the prior year, the company posted ($3.03) EPS. The firm’s revenue for the quarter was up 39.1% compared to the same quarter last year. On average, analysts predict that Intercept Pharmaceuticals will post -11.26 EPS for the current year.

In other Intercept Pharmaceuticals news, Director Paolo Fundaro sold 595,578 shares of the stock in a transaction 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 sale, the director now owns 19,433 shares in the company, valued at $1,644,031.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 595,817 shares of company stock worth $50,405,516. Insiders own 23.70% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Efficient Wealth Management LLC purchased a new stake in Intercept Pharmaceuticals in the first quarter worth $31,000. PNC Financial Services Group Inc. increased its stake in Intercept Pharmaceuticals by 42.1% in the first quarter. PNC Financial Services Group Inc. now owns 790 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 234 shares during the period. First Mercantile Trust Co. increased its stake in Intercept Pharmaceuticals by 17.5% in 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 during the period. Credit Agricole S A purchased a new stake in Intercept Pharmaceuticals in the first quarter worth $76,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 worth $131,000 after purchasing an additional 312 shares during the period. Institutional investors and hedge funds 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.

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Analyst Recommendations for Intercept Pharmaceuticals (NASDAQ:ICPT)

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