Piper Sandler Begins Coverage on Intercept Pharmaceuticals (NASDAQ:ICPT)

Piper Sandler started coverage on shares of Intercept Pharmaceuticals (NASDAQ:ICPT) in a report published on Thursday, The Fly reports. The brokerage issued an overweight rating and a $82.00 price objective on the biopharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the company. HC Wainwright began coverage on Intercept Pharmaceuticals in a report on Thursday, June 25th. They set a neutral rating and a $92.00 price target on the stock. UBS Group downgraded shares of Intercept Pharmaceuticals from a buy rating to a neutral rating and lowered their price objective for the stock from $135.00 to $57.00 in a research note on Tuesday, June 30th. Credit Suisse Group downgraded shares of 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 note on Monday, June 29th. BMO Capital Markets downgraded shares of Intercept Pharmaceuticals from an outperform rating to a market perform rating and lowered their price objective for the stock from $107.00 to $52.00 in a research note on Monday, June 29th. Finally, Cowen downgraded shares of Intercept Pharmaceuticals from an outperform rating to a market perform rating and lowered their price objective for the stock from $149.00 to $47.00 in a research note on Monday, June 29th. Nineteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $74.46.

Shares of NASDAQ ICPT traded down $1.06 during mid-day trading on Thursday, reaching $45.64. The company had a trading volume of 526,199 shares, compared to its average volume of 855,813. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -4.26 and a beta of 1.78. The stock has a fifty day moving average of $57.43 and a two-hundred day moving average of $76.77. The company has a debt-to-equity ratio of 10.32, a quick ratio of 4.19 and a current ratio of 4.19. Intercept Pharmaceuticals has a 12-month low of $42.19 and a 12-month high of $125.00.

Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings results on Monday, May 11th. The biopharmaceutical company reported ($2.86) EPS for the quarter, beating the 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 company had revenue of $72.60 million for the quarter, compared to the consensus estimate of $69.67 million. During the same quarter last year, the company posted ($3.03) earnings per share. The company’s revenue for the quarter was up 39.1% compared to the same quarter last year. Sell-side analysts forecast that Intercept Pharmaceuticals will post -10.82 earnings per share for the current fiscal year.

In other Intercept Pharmaceuticals news, Director Paolo Fundaro sold 595,578 shares of Intercept Pharmaceuticals stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $84.60, for a total transaction of $50,385,898.80. Following the completion of the transaction, the director now directly owns 19,433 shares of the company’s stock, valued at $1,644,031.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 23.70% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in ICPT. Efficient Wealth Management LLC bought a new position in shares of Intercept Pharmaceuticals in the first quarter valued at about $31,000. PNC Financial Services Group Inc. raised its holdings in shares of Intercept Pharmaceuticals by 42.1% in the first quarter. PNC Financial Services Group Inc. now owns 790 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 234 shares during the last quarter. Strs Ohio raised its holdings in shares of Intercept Pharmaceuticals by 1,000.0% in the second quarter. Strs Ohio now owns 1,100 shares of the biopharmaceutical company’s stock valued at $52,000 after buying an additional 1,000 shares during the last quarter. First Mercantile Trust Co. raised its holdings in shares of Intercept Pharmaceuticals by 17.5% in the first quarter. First Mercantile Trust Co. now owns 938 shares of the biopharmaceutical company’s stock valued at $59,000 after buying an additional 140 shares during the last quarter. Finally, Credit Agricole S A bought a new position in shares of Intercept Pharmaceuticals in the first quarter valued at about $76,000. 76.22% of the stock is owned by institutional investors and hedge funds.

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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