Trading Report: Today, Wedbush Reaffirms “Outperform” Rating for Intercept Pharmaceuticals Inc. (ICPT)

Today, Wedbush Reaffirms “Outperform” Rating for Intercept Pharmaceuticals Inc. (ICPT)

Intercept Pharmaceuticals Inc. (NASDAQ:ICPT)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a report issued on Saturday. They currently have a $224.00 price target on the biopharmaceutical company’s stock. Wedbush’s target price would suggest a potential upside of 93.37% from the stock’s previous close.

A number of other research analysts have also commented on ICPT. JMP Securities restated a “buy” rating on shares of Intercept Pharmaceuticals in a research report on Sunday, November 6th. Robert W. Baird restated an “outperform” rating and set a $332.00 price target on shares of Intercept Pharmaceuticals in a research report on Monday, November 7th. Cantor Fitzgerald restated a “sell” rating and set a $60.00 price target on shares of Intercept Pharmaceuticals in a research report on Monday, August 8th. Vetr lowered shares of Intercept Pharmaceuticals from a “sell” rating to a “strong sell” rating and set a $81.50 price target for the company. in a research report on Monday, August 8th. Finally, FBR & Co restated a “neutral” rating on shares of Intercept Pharmaceuticals in a research report on Friday, November 18th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. Intercept Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $177.07.

Intercept Pharmaceuticals (NASDAQ:ICPT) traded up 1.37% during trading on Friday, hitting $115.84. The company had a trading volume of 207,545 shares. The stock has a 50-day moving average of $124.14 and a 200 day moving average of $145.79. The company’s market capitalization is $2.87 billion. Intercept Pharmaceuticals has a one year low of $89.76 and a one year high of $186.87.

Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($3.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.82) by $0.23. Intercept Pharmaceuticals had a negative net margin of 3,287.95% and a negative return on equity of 66.97%. The business earned $4.70 million during the quarter, compared to analyst estimates of $4.77 million. During the same period in the previous year, the business earned ($2.10) EPS. Intercept Pharmaceuticals’s revenue was up 1051.1% compared to the same quarter last year. Equities analysts forecast that Intercept Pharmaceuticals will post ($15.63) EPS for the current fiscal year.

In related news, CMO David Shapiro sold 1,513 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $163.08, for a total transaction of $246,740.04. Following the transaction, the chief marketing officer now owns 46,196 shares in the company, valued at $7,533,643.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Pruzanski sold 35,000 shares of the business’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $165.00, for a total transaction of $5,775,000.00. Following the transaction, the chief executive officer now owns 579,314 shares in the company, valued at approximately $95,586,810. The disclosure for this sale can be found here. Corporate insiders own 9.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in ICPT. The Manufacturers Life Insurance Company bought a new position in shares of Intercept Pharmaceuticals during the third quarter valued at about $114,000. CENTRAL TRUST Co acquired a new stake in shares of Intercept Pharmaceuticals during the second quarter worth $107,000. KBC Group NV boosted its stake in shares of Intercept Pharmaceuticals by 660.2% in the third quarter. KBC Group NV now owns 897 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 779 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Intercept Pharmaceuticals by 67.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 915 shares of the biopharmaceutical company’s stock worth $151,000 after buying an additional 370 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Intercept Pharmaceuticals by 4.5% in the second quarter. Legal & General Group Plc now owns 1,196 shares of the biopharmaceutical company’s stock worth $171,000 after buying an additional 52 shares during the period. Institutional investors own 81.54% of the company’s stock.

Intercept Pharmaceuticals Company Profile

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