Carmignac Gestion boosted its position in shares of Intercept Pharmaceuticals Inc. (NASDAQ:ICPT) by 19.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,993,592 shares of the biopharmaceutical company’s stock after buying an additional 326,855 shares during the period. Intercept Pharmaceuticals accounts for approximately 2.4% of Carmignac Gestion’s investment portfolio, making the stock its 18th largest position. Carmignac Gestion owned approximately 0.08% of Intercept Pharmaceuticals worth $284,446,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Alps Advisors Inc. boosted its stake in Intercept Pharmaceuticals by 26.3% in the second quarter. Alps Advisors Inc. now owns 34,551 shares of the biopharmaceutical company’s stock worth $4,930,000 after buying an additional 7,187 shares in the last quarter. Bank of Montreal Can bought a new stake in Intercept Pharmaceuticals during the second quarter worth approximately $1,631,000. IBM Retirement Fund boosted its stake in Intercept Pharmaceuticals by 3.6% in the second quarter. IBM Retirement Fund now owns 1,657 shares of the biopharmaceutical company’s stock worth $236,000 after buying an additional 58 shares during the period. Mizuho Securities USA Inc. bought a new stake in Intercept Pharmaceuticals during the second quarter worth approximately $984,000. Finally, Bellevue Group AG bought a new stake in Intercept Pharmaceuticals during the first quarter worth approximately $1,734,000. Institutional investors and hedge funds own 81.86% of the company’s stock.
Intercept Pharmaceuticals Inc. (NASDAQ:ICPT) traded down 4.44% during midday trading on Thursday, reaching $160.23. 519,299 shares of the company were exchanged. Intercept Pharmaceuticals Inc. has a 52-week low of $89.76 and a 52-week high of $217.99. The company’s market capitalization is $3.96 billion. The company has a 50 day moving average of $158.72 and a 200-day moving average of $148.97.
Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($3.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.69) by $0.55. The business earned $5.52 million during the quarter, compared to the consensus estimate of $1.72 million. Intercept Pharmaceuticals had a negative return on equity of 50.58% and a negative net margin of 5,003.95%. The company’s revenue was up 1140.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.99) earnings per share. On average, equities research analysts anticipate that Intercept Pharmaceuticals Inc. will post ($16.31) earnings per share for the current fiscal year.
A number of analysts recently commented on ICPT shares. Morgan Stanley reiterated a “sell” rating and issued a $80.00 target price on shares of Intercept Pharmaceuticals in a research note on Friday, August 5th. Wedbush reiterated an “outperform” rating and issued a $239.00 target price on shares of Intercept Pharmaceuticals in a research note on Friday, September 16th. Cantor Fitzgerald started coverage on shares of Intercept Pharmaceuticals in a research note on Wednesday, July 6th. They issued a “sell” rating and a $58.00 target price for the company. Robert W. Baird reiterated an “outperform” rating and issued a $332.00 target price on shares of Intercept Pharmaceuticals in a research note on Wednesday, June 15th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Thursday, September 22nd. Five research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. Intercept Pharmaceuticals has an average rating of “Hold” and an average price target of $177.67.
In other news, insider Lisa Bright sold 246 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $159.00, for a total value of $39,114.00. Following the completion of the sale, the insider now directly owns 18,460 shares of the company’s stock, valued at $2,935,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Pruzanski sold 35,000 shares of the stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $165.00, for a total value of $5,775,000.00. Following the completion of the sale, the chief executive officer now directly owns 579,314 shares of the company’s stock, valued at $95,586,810. The disclosure for this sale can be found here. 9.20% of the stock is owned by 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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