Bank of America Corporation Trims Intercept Pharmaceuticals, Inc. (ICPT) Target Price to $73.00

Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) had its price objective decreased by Bank of America Corporation from $102.00 to $73.00 in a research note released on Friday morning. Bank of America Corporation currently has an underperform rating on the biopharmaceutical company’s stock.

Other equities analysts also recently issued reports about the company. Citigroup Inc. reiterated a neutral rating and set a $150.00 price objective on shares of Intercept Pharmaceuticals in a research report on Tuesday, September 19th. BidaskClub upgraded Intercept Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, June 23rd. Laidlaw reiterated a hold rating and set a $119.00 price objective (up from $115.00) on shares of Intercept Pharmaceuticals in a research report on Tuesday, August 1st. UBS AG downgraded Intercept Pharmaceuticals from an outperform rating to a market perform rating in a research report on Friday, September 22nd. Finally, Oppenheimer Holdings, Inc. reiterated an outperform rating and set a $200.00 price objective on shares of Intercept Pharmaceuticals in a research report on Tuesday, August 1st. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Intercept Pharmaceuticals presently has an average rating of Hold and an average target price of $153.76.

Shares of Intercept Pharmaceuticals (NASDAQ:ICPT) opened at 65.49 on Friday. The stock has a 50 day moving average price of $85.96 and a 200 day moving average price of $108.58. The firm’s market capitalization is $1.64 billion. Intercept Pharmaceuticals has a 12-month low of $54.98 and a 12-month high of $147.52.

Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its quarterly earnings data on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.62) by $0.16. The business had revenue of $30.89 million during the quarter, compared to the consensus estimate of $27.50 million. Intercept Pharmaceuticals had a negative return on equity of 135.24% and a negative net margin of 543.35%. The business’s revenue was up 459.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($3.14) earnings per share. Analysts predict that Intercept Pharmaceuticals will post ($13.99) EPS for the current fiscal year.

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In other Intercept Pharmaceuticals news, Director Daniel G. Welch sold 602 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $123.93, for a total transaction of $74,605.86. Following the sale, the director now directly owns 3,108 shares of the company’s stock, valued at approximately $385,174.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel G. Welch sold 217 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $126.76, for a total transaction of $27,506.92. Following the sale, the director now directly owns 3,710 shares in the company, valued at $470,279.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,278 shares of company stock worth $592,796. Company insiders own 4.50% of the company’s stock.

A number of large investors have recently made changes to their positions in ICPT. US Bancorp DE acquired a new stake in Intercept Pharmaceuticals during the 1st quarter valued at $130,000. Bank of New York Mellon Corp raised its stake in Intercept Pharmaceuticals by 10.2% during the 1st quarter. Bank of New York Mellon Corp now owns 68,302 shares of the biopharmaceutical company’s stock valued at $7,725,000 after purchasing an additional 6,312 shares during the period. Parametric Portfolio Associates LLC raised its stake in Intercept Pharmaceuticals by 74.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 28,007 shares of the biopharmaceutical company’s stock valued at $3,168,000 after purchasing an additional 11,933 shares during the period. Teachers Advisors LLC raised its stake in Intercept Pharmaceuticals by 3.0% during the 1st quarter. Teachers Advisors LLC now owns 15,871 shares of the biopharmaceutical company’s stock valued at $1,795,000 after purchasing an additional 461 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Intercept Pharmaceuticals by 0.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,020 shares of the biopharmaceutical company’s stock valued at $229,000 after purchasing an additional 14 shares during the period. 82.19% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Intercept Pharmaceuticals (NASDAQ:ICPT)

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