Amalgamated Bank reduced its position in Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) by 18.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,396 shares of the biopharmaceutical company’s stock after selling 531 shares during the period. Amalgamated Bank’s holdings in Intercept Pharmaceuticals were worth $271,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Numeric Investors LLC purchased a new stake in Intercept Pharmaceuticals during the fourth quarter worth about $253,000. Norges Bank purchased a new stake in Intercept Pharmaceuticals during the fourth quarter worth about $17,652,000. Teachers Advisors LLC increased its stake in Intercept Pharmaceuticals by 9.5% in the fourth quarter. Teachers Advisors LLC now owns 15,410 shares of the biopharmaceutical company’s stock worth $1,674,000 after buying an additional 1,339 shares in the last quarter. Opus Point Partners Management LLC increased its stake in Intercept Pharmaceuticals by 63.5% in the fourth quarter. Opus Point Partners Management LLC now owns 2,135 shares of the biopharmaceutical company’s stock worth $232,000 after buying an additional 829 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new position in Intercept Pharmaceuticals during the fourth quarter worth approximately $609,000. 83.05% of the stock is owned by institutional investors and hedge funds.
Intercept Pharmaceuticals, Inc. (NASDAQ ICPT) traded up 1.33% on Wednesday, hitting $105.47. The stock had a trading volume of 250,868 shares. The company’s 50 day moving average price is $119.27 and its 200 day moving average price is $117.88. The firm’s market cap is $2.65 billion. Intercept Pharmaceuticals, Inc. has a 52-week low of $96.63 and a 52-week high of $172.95.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) EPS for the quarter, beating the Zacks’ 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 135.24%. The firm had revenue of $30.89 million during the quarter, compared to the consensus estimate of $27.50 million. During the same quarter last year, the firm earned ($3.14) EPS. The firm’s revenue for the quarter was up 459.6% compared to the same quarter last year. Analysts expect that Intercept Pharmaceuticals, Inc. will post ($14.05) EPS for the current year.
A number of equities analysts have recently commented on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $275.00 price target on shares of Intercept Pharmaceuticals in a report on Sunday, July 30th. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $69.00 price target (up from $60.00) on shares of Intercept Pharmaceuticals in a report on Monday, July 31st. Wedbush reaffirmed a “buy” rating on shares of Intercept Pharmaceuticals in a report on Monday, July 31st. BidaskClub raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Finally, Zacks Investment Research raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a research note on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $203.67.
In related news, insider Lisa Bright sold 698 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $110.73, for a total value of $77,289.54. Following the sale, the insider now directly owns 24,711 shares of the company’s stock, valued at approximately $2,736,249.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Pruzanski sold 40,000 shares of the stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $130.80, for a total transaction of $5,232,000.00. Following the completion of the sale, the chief executive officer now directly owns 611,718 shares in the company, valued at $80,012,714.40. The disclosure for this sale can be found here. Insiders sold a total of 47,462 shares of company stock worth $6,130,938 over the last three months. 4.50% of the stock is currently owned by corporate insiders.
Intercept Pharmaceuticals Company Profile
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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