Intercept Pharmaceuticals (NASDAQ:ICPT – Get Rating) had its price target decreased by investment analysts at Piper Sandler from $82.00 to $49.00 in a research note issued to investors on Friday, The Fly reports. Piper Sandler’s price target would indicate a potential upside of 252.52% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on the company. Raymond James upped their target price on Intercept Pharmaceuticals from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. SVB Leerink reduced their price target on Intercept Pharmaceuticals from $27.00 to $21.00 and set a “market perform” rating for the company in a research report on Friday, July 8th. Needham & Company LLC reduced their price target on Intercept Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, July 8th. B. Riley reduced their price target on Intercept Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, August 22nd. Finally, HC Wainwright reduced their target price on Intercept Pharmaceuticals from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, August 8th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $24.55.
Intercept Pharmaceuticals Stock Performance
NASDAQ:ICPT traded down $2.51 during trading hours on Friday, reaching $13.90. The stock had a trading volume of 120,818 shares, compared to its average volume of 886,000. The stock has a market capitalization of $414.22 million, a PE ratio of -6.43 and a beta of 1.09. The company has a 50 day moving average price of $16.57 and a two-hundred day moving average price of $16.10. Intercept Pharmaceuticals has a 52 week low of $10.81 and a 52 week high of $21.25.
Intercept Pharmaceuticals (NASDAQ:ICPT – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.15). The company had revenue of $100.40 million during the quarter, compared to the consensus estimate of $94.85 million. Equities research analysts predict that Intercept Pharmaceuticals will post -2.92 EPS for the current year.
Institutional Trading of Intercept Pharmaceuticals
Hedge funds have recently modified their holdings of the stock. Verition Fund Management LLC purchased a new position in Intercept Pharmaceuticals during the second quarter worth approximately $205,000. Delphia USA Inc. boosted its position in Intercept Pharmaceuticals by 4.6% during the second quarter. Delphia USA Inc. now owns 17,109 shares of the biopharmaceutical company’s stock worth $236,000 after purchasing an additional 756 shares in the last quarter. Macquarie Group Ltd. boosted its position in Intercept Pharmaceuticals by 3.9% during the second quarter. Macquarie Group Ltd. now owns 645,069 shares of the biopharmaceutical company’s stock worth $8,909,000 after purchasing an additional 24,398 shares in the last quarter. PDT Partners LLC raised its holdings in shares of Intercept Pharmaceuticals by 2.5% during the second quarter. PDT Partners LLC now owns 137,596 shares of the biopharmaceutical company’s stock valued at $1,900,000 after acquiring an additional 3,414 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Intercept Pharmaceuticals by 66.4% during the second quarter. Point72 Asset Management L.P. now owns 127,300 shares of the biopharmaceutical company’s stock valued at $1,758,000 after acquiring an additional 50,800 shares during the last quarter. Hedge funds and other institutional investors own 86.00% of the company’s stock.
Intercept Pharmaceuticals Company Profile
Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics to treat progressive non-viral liver diseases in the United States, Europe, and Canada. The company markets Ocaliva, a farnesoid X receptor agonist used for the treatment of primary biliary cholangitis in combination with ursodeoxycholic acid in adults.
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Read More: Intercept Pharmaceuticals (NASDAQ:ICPT) PT Lowered to $49.00 at Piper Sandler