Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) - Analysts at Leerink Swann upped their Q3 2017 EPS estimates for Intercept Pharmaceuticals in a research note issued on Tuesday. Leerink Swann analyst J. Schwartz now expects that the biopharmaceutical company will post earnings of ($3.78) per share for the quarter, up from their previous estimate of ($3.99). Leerink Swann also issued estimates for Intercept Pharmaceuticals’ Q4 2017 earnings at ($3.95) EPS, FY2017 earnings at ($14.80) EPS and FY2018 earnings at ($13.19) EPS.
Several other equities research analysts also recently issued reports on ICPT. Cantor Fitzgerald restated an “underweight” rating and set a $69.00 price objective (up from $60.00) on shares of Intercept Pharmaceuticals in a report on Monday. BMO Capital Markets lifted their price objective on Intercept Pharmaceuticals from $218.00 to $221.00 and gave the stock an “outperform” rating in a report on Tuesday. Wedbush restated a “buy” rating on shares of Intercept Pharmaceuticals in a report on Monday. Credit Suisse Group set a $201.00 price objective on Intercept Pharmaceuticals and gave the stock a “buy” rating in a report on Saturday, June 3rd. Finally, Laidlaw restated a “hold” rating and set a $119.00 price objective (up from $115.00) on shares of Intercept Pharmaceuticals in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Intercept Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $196.39.
Shares of Intercept Pharmaceuticals (ICPT) opened at 109.64 on Thursday. Intercept Pharmaceuticals has a 52 week low of $96.63 and a 52 week high of $174.24. The stock’s market cap is $2.74 billion. The stock has a 50 day moving average of $124.94 and a 200 day moving average of $118.29.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.62) by $0.16. Intercept Pharmaceuticals had a negative net margin of 543.35% and a negative return on equity of 119.17%. The business had revenue of $30.89 million for the quarter, compared to the consensus estimate of $27.50 million. During the same quarter in the prior year, the firm posted ($3.14) earnings per share. The business’s revenue for the quarter was up 459.6% on a year-over-year basis.
In related news, CMO David Shapiro sold 1,118 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $119.00, for a total transaction of $133,042.00. Following the completion of the transaction, the chief marketing officer now owns 45,680 shares in the company, valued at approximately $5,435,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lisa Bright sold 698 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $110.73, for a total value of $77,289.54. Following the transaction, the insider now owns 24,711 shares of the company’s stock, valued at approximately $2,736,249.03. The disclosure for this sale can be found here. Insiders have sold a total of 47,575 shares of company stock valued at $6,144,469 in the last 90 days. Insiders own 9.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Intercept Pharmaceuticals during the fourth quarter worth about $17,652,000. Oppenheimer & Co. Inc. raised its position in shares of Intercept Pharmaceuticals by 9.0% in the first quarter. Oppenheimer & Co. Inc. now owns 2,152 shares of the biopharmaceutical company’s stock worth $244,000 after buying an additional 178 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Intercept Pharmaceuticals during the first quarter worth about $414,000. Van ECK Associates Corp raised its position in shares of Intercept Pharmaceuticals by 9.2% in the first quarter. Van ECK Associates Corp now owns 25,550 shares of the biopharmaceutical company’s stock worth $2,890,000 after buying an additional 2,161 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in shares of Intercept Pharmaceuticals by 24.7% in the first quarter. BNP Paribas Arbitrage SA now owns 5,006 shares of the biopharmaceutical company’s stock worth $566,000 after buying an additional 990 shares during the period. Institutional investors own 84.27% of the company’s stock.
About Intercept Pharmaceuticals
Intercept Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat non-viral, progressive liver diseases. The Company’s product candidates have the potential to treat orphan and more prevalent diseases for which there are limited therapeutic solutions.
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