Intercept Pharmaceuticals (NASDAQ:ICPT) Reaches New 1-Year Low on Analyst Downgrade

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Intercept Pharmaceuticals Inc (NASDAQ:ICPT)’s stock price reached a new 52-week low 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 changing hands. The stock had previously closed at $77.49.

Other analysts have also issued research reports about the company. Wedbush restated a “buy” rating and set a $140.00 price target on shares of Intercept Pharmaceuticals in a report on Monday. Canaccord Genuity lowered Intercept Pharmaceuticals from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research note on Monday. BidaskClub upgraded Intercept Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. BMO Capital Markets lowered Intercept Pharmaceuticals from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $107.00 to $52.00 in a research note on Monday. Finally, Cowen lowered Intercept Pharmaceuticals from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $149.00 to $47.00 in a research note on Monday. Eighteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Intercept Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $74.13.

In other Intercept Pharmaceuticals news, Director Paolo Fundaro sold 595,578 shares of Intercept Pharmaceuticals stock in a transaction that occurred on Wednesday, May 13th. The shares were 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 directly owns 19,433 shares in the company, valued at approximately $1,644,031.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 595,817 shares of company stock valued at $50,405,516 in the last ninety days. Corporate insiders own 23.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in Intercept Pharmaceuticals by 6.7% during the fourth quarter. Victory Capital Management Inc. now owns 3,895 shares of the biopharmaceutical company’s stock worth $483,000 after buying an additional 244 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Intercept Pharmaceuticals by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 163,811 shares of the biopharmaceutical company’s stock worth $20,300,000 after buying an additional 3,125 shares in the last quarter. National Asset Management Inc. purchased a new stake in Intercept Pharmaceuticals during the fourth quarter worth $233,000. Envestnet Asset Management Inc. purchased a new stake in Intercept Pharmaceuticals during the fourth quarter worth $299,000. Finally, EAM Investors LLC purchased a new stake in Intercept Pharmaceuticals during the fourth quarter worth $1,575,000. Hedge funds and other institutional investors own 76.46% of the company’s stock.

The company has a debt-to-equity ratio of 10.32, a current ratio of 4.19 and a quick ratio of 4.19. The firm has a market capitalization of $2.55 billion, a PE ratio of -4.47 and a beta of 1.82. The company’s fifty day simple moving average is $78.84 and its 200-day simple moving average is $88.09.

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