Chardan Capital Reaffirms “Buy” Rating for Intercept Pharmaceuticals (NASDAQ:ICPT)

Chardan Capital reaffirmed their buy rating on shares of Intercept Pharmaceuticals (NASDAQ:ICPT) in a report released on Tuesday, TipRanks reports. Chardan Capital currently has a $105.00 target price on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently commented on ICPT. Raymond James downgraded Intercept Pharmaceuticals from an outperform rating to a market perform rating in a research report on Monday. Wells Fargo & Co cut Intercept Pharmaceuticals from an overweight rating to an equal weight rating and lowered their price objective for the stock from $146.00 to $46.00 in a research report on Monday. Robert W. Baird downgraded Intercept Pharmaceuticals from an outperform rating to a neutral rating and set a $52.00 target price for the company. in a report on Tuesday. Credit Suisse Group downgraded Intercept Pharmaceuticals from an outperform rating to a neutral rating and reduced their target price for the company from $137.00 to $59.00 in a report on Monday. Finally, Wedbush reaffirmed a buy rating and set a $140.00 price objective on shares of Intercept Pharmaceuticals in a research note on Monday. Eighteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $74.13.

NASDAQ:ICPT opened at $47.91 on Tuesday. Intercept Pharmaceuticals has a 52 week low of $44.50 and a 52 week high of $125.00. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 10.32. The company has a market capitalization of $2.55 billion, a P/E ratio of -4.47 and a beta of 1.82. The stock’s fifty day moving average is $78.84 and its two-hundred day moving average is $88.09.

Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its earnings results on Monday, May 11th. The biopharmaceutical company reported ($2.86) EPS for the quarter, beating the Zacks’ 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 in the previous year, the business earned ($3.03) earnings per share. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. Sell-side analysts anticipate that Intercept Pharmaceuticals will post -11.3 earnings per share for the current fiscal 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 transaction of $50,385,898.80. Following the sale, the director now owns 19,433 shares in the company, valued at approximately $1,644,031.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 595,817 shares of company stock worth $50,405,516. 23.70% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of ICPT. Norges Bank acquired a new stake in shares of Intercept Pharmaceuticals during the fourth quarter worth $37,422,000. Sarissa Capital Management LP boosted its holdings in shares of Intercept Pharmaceuticals by 34.3% during the first quarter. Sarissa Capital Management LP now owns 1,155,000 shares of the biopharmaceutical company’s stock worth $72,718,000 after purchasing an additional 295,000 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Intercept Pharmaceuticals by 50.5% during the fourth quarter. Macquarie Group Ltd. now owns 545,414 shares of the biopharmaceutical company’s stock worth $67,588,000 after purchasing an additional 183,072 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Intercept Pharmaceuticals by 37.5% during the first quarter. Two Sigma Advisers LP now owns 539,600 shares of the biopharmaceutical company’s stock worth $33,973,000 after purchasing an additional 147,200 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Intercept Pharmaceuticals during the fourth quarter worth $11,425,000. 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.

Further Reading: Limitations of the P/E Growth ratio

Analyst Recommendations for Intercept Pharmaceuticals (NASDAQ:ICPT)

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