Intercept Pharmaceuticals (NASDAQ:ICPT) Downgraded to Hold at Needham & Company LLC

Needham & Company LLC lowered shares of Intercept Pharmaceuticals (NASDAQ:ICPT – Get Rating) from a buy rating to a hold rating in a research note issued to investors on Tuesday, The Fly reports.

A number of other equities research analysts have also recently commented on the company. Royal Bank of Canada increased 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. Robert W. Baird cut their target price on Intercept Pharmaceuticals from $35.00 to $18.00 in a research note on Monday. SVB Securities increased their target price on Intercept Pharmaceuticals from $17.00 to $18.00 in a research note on Friday, March 3rd. HC Wainwright cut Intercept Pharmaceuticals from a neutral rating to a sell rating and set a $8.00 price objective on the stock. in a research report on Monday. Finally, Raymond James cut Intercept Pharmaceuticals from an outperform rating to a market perform rating in a research report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $23.27.

Intercept Pharmaceuticals Price Performance

Shares of Intercept Pharmaceuticals stock opened at $9.42 on Tuesday. 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 company has a market cap of $392.72 million, a PE ratio of 1.50 and a beta of 1.25. The business has a 50 day moving average of $15.38 and a 200 day moving average of $16.03. Intercept Pharmaceuticals has a 52 week low of $9.19 and a 52 week high of $21.86.

Intercept Pharmaceuticals (NASDAQ:ICPT – Get Rating) last announced its earnings results 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 business had revenue of $77.22 million for the quarter, compared to the consensus estimate of $76.89 million. As a group, equities research analysts forecast that Intercept Pharmaceuticals will post -1.68 earnings per share for the current year.

Institutional Investors Weigh In On Intercept Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Wyoming purchased a new stake in Intercept Pharmaceuticals in the fourth quarter valued at about $25,000. Dark Forest Capital Management LP acquired a new position in shares of Intercept Pharmaceuticals in the first quarter valued at about $28,000. Gladius Capital Management LP acquired a new position in shares of Intercept Pharmaceuticals in the fourth quarter valued at about $32,000. Natixis acquired a new position in shares of Intercept Pharmaceuticals in the fourth quarter valued at about $49,000. Finally, Great West Life Assurance Co. Can acquired a new position in shares of Intercept Pharmaceuticals in the third quarter valued at about $58,000. 81.09% of the stock is currently owned by hedge funds and other institutional investors.

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.