Intercept Pharmaceuticals (NASDAQ:ICPT) Reaches New 52-Week Low Following Analyst Downgrade

Shares of Intercept Pharmaceuticals Inc (NASDAQ:ICPT) hit a new 52-week low during trading on Monday after SVB Leerink lowered their price target on the stock from $89.00 to $50.00. SVB Leerink currently has a market perform rating on the stock. Intercept Pharmaceuticals traded as low as $44.50 and last traded at $48.13, with a volume of 4686273 shares. The stock had previously closed at $77.49.

Several other equities analysts have also commented on ICPT. Royal Bank of Canada lowered Intercept Pharmaceuticals from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $117.00 to $55.00 in a research report on Monday. Stifel Nicolaus reduced their price target on Intercept Pharmaceuticals from $100.00 to $51.00 and set a “hold” rating for the company in a report on Monday. Goldman Sachs Group downgraded Intercept Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price target for the company from $150.00 to $60.00 in a report on Monday. BidaskClub upgraded Intercept Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Finally, B. Riley restated a “buy” rating and set a $97.00 price target on shares of Intercept Pharmaceuticals in a report 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 has a consensus rating of “Hold” and a consensus price target of $74.13.

In other news, Director Paolo Fundaro sold 595,578 shares of Intercept Pharmaceuticals stock in a transaction dated 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 transaction, the director now directly owns 19,433 shares of the company’s stock, valued at approximately $1,644,031.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 595,817 shares of company stock worth $50,405,516 over the last three months. Insiders own 23.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. First Mercantile Trust Co. lifted its holdings in Intercept Pharmaceuticals by 17.5% in the 1st quarter. First Mercantile Trust Co. now owns 938 shares of the biopharmaceutical company’s stock worth $59,000 after purchasing an additional 140 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Intercept Pharmaceuticals by 42.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 790 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 234 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Intercept Pharmaceuticals by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 8,275 shares of the biopharmaceutical company’s stock valued at $521,000 after purchasing an additional 243 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Intercept Pharmaceuticals by 6.7% during the 4th quarter. Victory Capital Management Inc. now owns 3,895 shares of the biopharmaceutical company’s stock valued at $483,000 after purchasing an additional 244 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Intercept Pharmaceuticals by 17.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,080 shares of the biopharmaceutical company’s stock valued at $131,000 after purchasing an additional 312 shares during the last quarter. 76.46% of the stock is currently owned by hedge funds and other institutional investors.

The stock has a market cap of $2.55 billion, a P/E ratio of -4.47 and a beta of 1.82. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 10.32. The company has a 50-day moving average price of $78.84 and a two-hundred day moving average price of $88.09.

Intercept Pharmaceuticals (NASDAQ:ICPT) last released its earnings results on Monday, May 11th. The biopharmaceutical company reported ($2.86) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.94) by $0.08. The firm had revenue of $72.60 million for the quarter, compared to the consensus estimate of $69.67 million. Intercept Pharmaceuticals had a negative return on equity of 430.51% and a negative net margin of 127.53%. The company’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($3.03) EPS. As a group, equities analysts forecast that Intercept Pharmaceuticals Inc will post -11.3 earnings per share for the current fiscal year.

Intercept Pharmaceuticals Company Profile (NASDAQ:ICPT)

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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