Intercept Pharmaceuticals (NASDAQ:ICPT) was upgraded by investment analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a note issued to investors on Monday, Marketbeat.com reports. The brokerage presently has a $184.00 target price on the biopharmaceutical company’s stock. Raymond James’ target price points to a potential upside of 53.79% from the stock’s previous close.
A number of other equities analysts have also commented on the company. Oppenheimer set a $100.00 price objective on Intercept Pharmaceuticals and gave the stock a “hold” rating in a research note on Monday, October 8th. ValuEngine lowered Intercept Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 8th. BidaskClub lowered Intercept Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 11th. Needham & Company LLC reiterated a “hold” rating on shares of Intercept Pharmaceuticals in a research note on Wednesday, October 31st. Finally, Wedbush set a $220.00 price objective on Intercept Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, November 6th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Intercept Pharmaceuticals currently has an average rating of “Buy” and an average target price of $150.74.
NASDAQ ICPT opened at $119.64 on Monday. Intercept Pharmaceuticals has a fifty-two week low of $51.05 and a fifty-two week high of $133.74. The company has a current ratio of 5.98, a quick ratio of 5.98 and a debt-to-equity ratio of 3.83.
In related news, major shareholder S.P.A. Genextra sold 750,000 shares of the business’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $105.07, for a total transaction of $78,802,500.00. Following the transaction, the insider now directly owns 6,095,578 shares in the company, valued at $640,462,380.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Pruzanski sold 50,000 shares of the business’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $101.07, for a total value of $5,053,500.00. Following the transaction, the chief executive officer now owns 589,199 shares in the company, valued at $59,550,342.93. The disclosure for this sale can be found here. Insiders have sold 812,130 shares of company stock worth $85,159,685 over the last 90 days. Corporate insiders own 4.90% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Intercontinental Wealth Advisors LLC acquired a new stake in Intercept Pharmaceuticals during the fourth quarter valued at approximately $34,000. Strs Ohio acquired a new stake in Intercept Pharmaceuticals during the third quarter valued at approximately $126,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Intercept Pharmaceuticals by 14.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,416 shares of the biopharmaceutical company’s stock valued at $143,000 after purchasing an additional 183 shares in the last quarter. Chicago Equity Partners LLC acquired a new stake in Intercept Pharmaceuticals during the third quarter valued at approximately $215,000. Finally, GWM Advisors LLC acquired a new stake in Intercept Pharmaceuticals during the third quarter valued at approximately $220,000. Hedge funds and other institutional investors own 63.71% of the company’s stock.
About Intercept Pharmaceuticals
Intercept Pharmaceuticals, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of novel therapeutics in treating chronic liver diseases. Its product pipeline is OCALIVA which is used for the treatment of primary biliary cholangitis, nonalcoholic steatohepatitis, primary sclerosing cholangitis, and biliary atresia.
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