Intercept Pharmaceuticals (NASDAQ:ICPT) Stock Rating Lowered by Raymond James

Intercept Pharmaceuticals (NASDAQ:ICPT – Get Rating) was downgraded by Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, The Fly reports.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada upped their price objective on Intercept Pharmaceuticals from $17.00 to $19.00 and gave the company a “sector perform” rating in a research note on Friday, March 3rd. StockNews.com downgraded Intercept Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, March 28th. SVB Securities upped their price objective on Intercept Pharmaceuticals from $17.00 to $18.00 in a research note on Friday, March 3rd. SVB Leerink upped their price objective on Intercept Pharmaceuticals from $17.00 to $18.00 and gave the company a “market perform” rating in a research note on Friday, March 3rd. Finally, Needham & Company LLC upped their price objective on Intercept Pharmaceuticals from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, March 3rd. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intercept Pharmaceuticals has a consensus rating of “Hold” and an average price target of $26.50.

Intercept Pharmaceuticals Stock Performance

Shares of ICPT opened at $13.56 on Wednesday. The firm has a market capitalization of $565.28 million, a P/E ratio of 2.16 and a beta of 1.26. The company has a debt-to-equity ratio of 3.32, a quick ratio of 2.37 and a current ratio of 2.37. The stock has a 50 day moving average price of $15.68 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 $21.86.

Intercept Pharmaceuticals (NASDAQ:ICPT – Get Rating) last released its earnings results on Thursday, March 2nd. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.11. The business had revenue of $77.22 million during the quarter, compared to the consensus estimate of $76.89 million. Equities analysts forecast that Intercept Pharmaceuticals will post -1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Intercept Pharmaceuticals by 8.0% during the third quarter. BlackRock Inc. now owns 2,936,187 shares of the biopharmaceutical company’s stock valued at $40,960,000 after acquiring an additional 217,833 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Intercept Pharmaceuticals by 7.9% during the third quarter. Vanguard Group Inc. now owns 2,706,414 shares of the biopharmaceutical company’s stock valued at $37,755,000 after acquiring an additional 197,255 shares in the last quarter. Point72 Asset Management L.P. grew its position in Intercept Pharmaceuticals by 1,124.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,559,183 shares of the biopharmaceutical company’s stock worth $21,751,000 after purchasing an additional 1,431,883 shares during the period. Renaissance Technologies LLC grew its position in Intercept Pharmaceuticals by 48.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,050,200 shares of the biopharmaceutical company’s stock worth $14,104,000 after purchasing an additional 341,900 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in Intercept Pharmaceuticals by 20.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 780,945 shares of the biopharmaceutical company’s stock worth $10,894,000 after purchasing an additional 135,254 shares during the period. 81.09% of the stock is owned by institutional investors.

Intercept Pharmaceuticals Company Profile

(Get Rating)

Intercept Pharmaceuticals, Inc operates as a biopharmaceutical company. The firm engages in the research, development, and commercialization of novel therapeutics in treating chronic liver diseases. Its product pipeline includes OCALIVA, which is used for the treatment of biliary cholangitis, nonalcoholic steatohepatitis, sclerosing cholangitis and biliary atresia.