Intercept Pharmaceuticals (NASDAQ:ICPT) Reaches New 52-Week Low After Analyst Downgrade

Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT – Get Rating) reached a new 52-week low during trading on Monday after Robert W. Baird lowered their price target on the stock from $35.00 to $18.00. The stock traded as low as $9.21 and last traded at $9.53, with a volume of 9173993 shares trading hands. The stock had previously closed at $13.56.

Several other brokerages have also recently commented on ICPT. Raymond James cut shares of Intercept Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 17th. SVB Securities lifted their target price on Intercept Pharmaceuticals from $17.00 to $18.00 in a report on Friday, March 3rd. StockNews.com began coverage on Intercept Pharmaceuticals in a report on Thursday, May 18th. They set a “hold” rating on the stock. SVB Leerink lifted 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, HC Wainwright lowered shares of Intercept Pharmaceuticals from a “neutral” rating to a “sell” rating and set a $8.00 target price on the stock. in a research note on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intercept Pharmaceuticals has an average rating of “Hold” and a consensus price target of $24.20.

Institutional Inflows and Outflows

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

Intercept Pharmaceuticals Stock Performance

The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 3.32. The firm has a 50-day simple moving average of $15.50 and a 200 day simple moving average of $16.07. The company has a market cap of $397.28 million, a price-to-earnings ratio of 1.52 and a beta of 1.26.

Intercept Pharmaceuticals (NASDAQ:ICPT – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.11. The business had revenue of $77.22 million for the quarter, compared to analyst estimates of $76.89 million. On average, sell-side analysts predict that Intercept Pharmaceuticals, Inc. will post -1.68 earnings per share for the current fiscal year.

Intercept Pharmaceuticals Company Profile

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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.