Intercept Pharmaceuticals (NASDAQ:ICPT) Downgraded to Sell at HC Wainwright

HC Wainwright cut shares of Intercept Pharmaceuticals (NASDAQ:ICPT – Get Rating) from a neutral rating to a sell rating in a research note published on Monday, The Fly reports. The firm currently has $8.00 price objective on the biopharmaceutical company’s stock.

A number of other research firms have also weighed in on ICPT. Needham & Company LLC raised their price objective on shares of Intercept Pharmaceuticals from $22.00 to $26.00 and gave the company a buy rating in a research note on Friday, March 3rd. SVB Leerink boosted their target price on Intercept Pharmaceuticals from $17.00 to $18.00 and gave the stock a market perform rating in a research note on Friday, March 3rd. StockNews.com started coverage on Intercept Pharmaceuticals in a research note on Thursday, May 18th. They issued a hold rating on the stock. Royal Bank of Canada boosted their target price on Intercept Pharmaceuticals from $17.00 to $19.00 and gave the stock a sector perform rating in a research note on Friday, March 3rd. Finally, Raymond James downgraded Intercept Pharmaceuticals from an outperform rating to a market perform rating in a research note on Wednesday, May 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $24.20.

Intercept Pharmaceuticals Trading Down 29.7 %

Shares of NASDAQ ICPT opened at $9.53 on Monday. The company has a debt-to-equity ratio of 3.32, a quick ratio of 2.37 and a current ratio of 2.37. Intercept Pharmaceuticals has a 52-week low of $9.21 and a 52-week high of $21.86. The firm has a 50 day moving average price of $15.50 and a two-hundred day moving average price of $16.07. The stock has a market cap of $397.28 million, a P/E ratio of 1.52 and a beta of 1.26.

Intercept Pharmaceuticals (NASDAQ:ICPT – Get Rating) last posted its quarterly earnings data on Thursday, March 2nd. The biopharmaceutical company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.11. The firm had revenue of $77.22 million during the quarter, compared to the consensus estimate of $76.89 million. As a group, equities analysts forecast that Intercept Pharmaceuticals will post -1.68 EPS for the current year.

Institutional Investors Weigh In On Intercept Pharmaceuticals

Several institutional investors have recently made changes to their positions in ICPT. Putnam Investments LLC increased its holdings in shares of Intercept Pharmaceuticals by 277.9% in the first quarter. Putnam Investments LLC now owns 129,387 shares of the biopharmaceutical company’s stock worth $1,738,000 after purchasing an additional 95,151 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Intercept Pharmaceuticals by 3.6% during the first quarter. Ameriprise Financial Inc. now owns 43,214 shares of the biopharmaceutical company’s stock valued at $580,000 after purchasing an additional 1,514 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Intercept Pharmaceuticals by 29.2% during the first quarter. Rockefeller Capital Management L.P. now owns 735,488 shares of the biopharmaceutical company’s stock valued at $9,877,000 after purchasing an additional 166,303 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Intercept Pharmaceuticals by 2.5% during the first quarter. Geode Capital Management LLC now owns 599,338 shares of the biopharmaceutical company’s stock valued at $8,049,000 after acquiring an additional 14,344 shares in the last quarter. Finally, Alberta Investment Management Corp increased its position in shares of Intercept Pharmaceuticals by 37.7% during the first quarter. Alberta Investment Management Corp now owns 26,432 shares of the biopharmaceutical company’s stock valued at $355,000 after acquiring an additional 7,231 shares in the last quarter. Hedge funds and other institutional investors own 81.09% of the company’s stock.

About Intercept Pharmaceuticals

(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.