Investors Purchase Large Volume of Intercept Pharmaceuticals Put Options (NASDAQ:ICPT)

Intercept Pharmaceuticals Inc (NASDAQ:ICPT) was the target of some unusual options trading activity on Monday. Stock investors purchased 2,166 put options on the stock. This represents an increase of 740% compared to the typical volume of 258 put options.

In other news, Director Paolo Fundaro sold 595,578 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 19,433 shares in the company, valued at $1,644,031.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 595,817 shares of company stock valued at $50,405,516 over the last quarter. 23.70% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of ICPT. Norges Bank bought a new position in Intercept Pharmaceuticals in the fourth quarter worth approximately $37,422,000. Sarissa Capital Management LP raised its position 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 period. Macquarie Group Ltd. raised its position 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 period. Two Sigma Advisers LP lifted its holdings in shares of Intercept Pharmaceuticals by 37.5% in the 1st 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 in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Intercept Pharmaceuticals in the 4th quarter valued at $11,425,000. 76.46% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:ICPT opened at $47.91 on Wednesday. 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 stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -4.47 and a beta of 1.82. The firm has a fifty day simple moving average of $78.84 and a two-hundred day simple moving average of $88.09. Intercept Pharmaceuticals has a 12 month low of $44.50 and a 12 month high of $125.00.

Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings data on Monday, May 11th. The biopharmaceutical company reported ($2.86) earnings per share for the quarter, beating the consensus estimate of ($2.94) by $0.08. The firm had revenue of $72.60 million for the quarter, compared to analyst estimates of $69.67 million. Intercept Pharmaceuticals had a negative net margin of 127.53% and a negative return on equity of 430.51%. The business’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($3.03) earnings per share. Equities analysts predict that Intercept Pharmaceuticals will post -11.3 earnings per share for the current fiscal year.

Several research analysts have recently issued reports on ICPT shares. Credit Suisse Group downgraded shares of Intercept Pharmaceuticals from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $137.00 to $59.00 in a report on Monday. Wells Fargo & Co cut shares of Intercept Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $146.00 to $46.00 in a research note on Monday. Goldman Sachs Group lowered Intercept Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $150.00 to $60.00 in a research report on Monday. BMO Capital Markets downgraded Intercept Pharmaceuticals from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $107.00 to $52.00 in a report on Monday. Finally, Cowen cut Intercept Pharmaceuticals from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $149.00 to $47.00 in a research note on Monday. Eighteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $81.48.

About Intercept Pharmaceuticals

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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