Oppenheimer Reaffirms “Buy” Rating for Intercept Pharmaceuticals (ICPT)

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Oppenheimer restated their buy rating on shares of Intercept Pharmaceuticals (NASDAQ:ICPT) in a research report report published on Tuesday morning.

Other equities analysts also recently issued research reports about the company. ValuEngine upgraded Intercept Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, November 23rd. Zacks Investment Research upgraded Intercept Pharmaceuticals from a hold rating to a buy rating and set a $116.00 price target on the stock in a research report on Tuesday, November 20th. B. Riley initiated coverage on Intercept Pharmaceuticals in a research report on Tuesday, December 11th. They set a buy rating and a $155.00 price target on the stock. Cantor Fitzgerald reiterated a buy rating and set a $170.00 price target on shares of Intercept Pharmaceuticals in a research report on Thursday, December 6th. Finally, BidaskClub upgraded Intercept Pharmaceuticals from a hold rating to a buy rating in a research report on Tuesday, December 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Intercept Pharmaceuticals has an average rating of Buy and a consensus target price of $144.71.

Shares of ICPT opened at $115.15 on Tuesday. Intercept Pharmaceuticals has a 52 week low of $58.03 and a 52 week high of $133.74. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 19.41. The stock has a market capitalization of $3.36 billion, a PE ratio of -10.60 and a beta of 1.62.

Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its earnings results on Thursday, February 28th. The biopharmaceutical company reported ($2.97) EPS for the quarter, missing analysts’ consensus estimates of ($2.42) by ($0.55). Intercept Pharmaceuticals had a negative return on equity of 592.58% and a negative net margin of 172.39%. The company had revenue of $53.30 million during the quarter, compared to analysts’ expectations of $52.53 million. During the same quarter in the previous year, the company earned ($4.43) EPS. The firm’s quarterly revenue was up 41.4% compared to the same quarter last year. On average, research analysts predict that Intercept Pharmaceuticals will post -9.1 EPS for the current fiscal year.

In other news, Director Srinivas Akkaraju sold 23,438 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $128.78, for a total value of $3,018,345.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Christian Weyer sold 333 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $103.16, for a total value of $34,352.28. Following the completion of the transaction, the executive vice president now owns 19,440 shares in the company, valued at approximately $2,005,430.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,558 shares of company stock worth $3,862,577. Company insiders own 4.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intercontinental Wealth Advisors LLC purchased a new position in shares of Intercept Pharmaceuticals in the fourth quarter valued at approximately $34,000. Advisor Group Inc. lifted its position in shares of Intercept Pharmaceuticals by 63.5% in the fourth quarter. Advisor Group Inc. now owns 739 shares of the biopharmaceutical company’s stock valued at $74,000 after acquiring an additional 287 shares in the last quarter. Strs Ohio lifted its position in shares of Intercept Pharmaceuticals by 30.0% in the fourth quarter. Strs Ohio now owns 1,300 shares of the biopharmaceutical company’s stock valued at $131,000 after acquiring an additional 300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Intercept Pharmaceuticals by 14.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,416 shares of the biopharmaceutical company’s stock valued at $143,000 after acquiring an additional 183 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Intercept Pharmaceuticals in the fourth quarter valued at approximately $228,000. Institutional investors and hedge funds own 69.38% of the company’s stock.

About Intercept Pharmaceuticals

Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics in the United States, Europe, and Canada. Its lead product candidate is obeticholic acid (OCA), a bile acid analog, which has a structure based on a naturally occurring human bile acid that selectively binds to and activates the farnesoid X receptor (FXR).

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Analyst Recommendations for Intercept Pharmaceuticals (NASDAQ:ICPT)

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