Falcon Point Capital LLC lowered its stake in shares of Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) by 4.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 42,775 shares of the biopharmaceutical company’s stock after selling 1,798 shares during the period. Falcon Point Capital LLC owned about 0.17% of Intercept Pharmaceuticals worth $5,179,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Intercept Pharmaceuticals by 14.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,047 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 132 shares during the period. US Bancorp DE acquired a new position in Intercept Pharmaceuticals during the first quarter valued at $130,000. IFP Advisors Inc boosted its position in Intercept Pharmaceuticals by 128.1% in the second quarter. IFP Advisors Inc now owns 1,300 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 730 shares during the period. Quantbot Technologies LP acquired a new position in Intercept Pharmaceuticals during the first quarter valued at $170,000. Finally, Pacer Advisors Inc. boosted its position in Intercept Pharmaceuticals by 21.6% in the first quarter. Pacer Advisors Inc. now owns 1,861 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 330 shares during the period. Institutional investors and hedge funds own 83.93% of the company’s stock.
Intercept Pharmaceuticals, Inc. (ICPT) opened at 103.19 on Friday. Intercept Pharmaceuticals, Inc. has a 12-month low of $96.63 and a 12-month high of $172.95. The firm’s market capitalization is $2.59 billion. The company’s 50 day moving average price is $120.81 and its 200-day moving average price is $117.78.
Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) EPS for the quarter, beating the Zacks’ consensus estimate of ($3.62) by $0.16. The company had revenue of $30.89 million during the quarter, compared to the consensus estimate of $27.50 million. Intercept Pharmaceuticals had a negative return on equity of 135.24% and a negative net margin of 543.35%. Intercept Pharmaceuticals’s revenue was up 459.6% on a year-over-year basis. During the same period last year, the business posted ($3.14) earnings per share. On average, equities analysts anticipate that Intercept Pharmaceuticals, Inc. will post ($14.05) earnings per share for the current fiscal year.
Several research firms have recently weighed in on ICPT. Cowen and Company reiterated a “buy” rating and set a $225.00 price objective on shares of Intercept Pharmaceuticals in a report on Monday, April 24th. Cantor Fitzgerald reiterated an “underweight” rating and set a $69.00 price objective (up previously from $60.00) on shares of Intercept Pharmaceuticals in a report on Tuesday, August 8th. Zacks Investment Research upgraded Intercept Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, May 8th. Credit Suisse Group lifted their price objective on Intercept Pharmaceuticals from $198.00 to $201.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Finally, BidaskClub upgraded Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $203.67.
In related news, Director Daniel G. Welch sold 602 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $123.93, for a total transaction of $74,605.86. Following the completion of the sale, the director now directly owns 3,108 shares of the company’s stock, valued at $385,174.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel G. Welch sold 217 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $126.76, for a total value of $27,506.92. Following the sale, the director now directly owns 3,710 shares of the company’s stock, valued at $470,279.60. The disclosure for this sale can be found here. Insiders have sold 47,575 shares of company stock valued at $6,144,469 over the last ninety days. 9.20% of the stock is currently owned by company insiders.
About Intercept Pharmaceuticals
Intercept Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat non-viral, progressive liver diseases. The Company’s product candidates have the potential to treat orphan and more prevalent diseases for which there are limited therapeutic solutions.
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