Hsbc Holdings PLC purchased a new stake in Intercept Pharmaceuticals Inc (NASDAQ:ICPT) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 5,915 shares of the biopharmaceutical company’s stock, valued at approximately $748,000.
A number of other institutional investors also recently modified their holdings of ICPT. FMR LLC lifted its stake in Intercept Pharmaceuticals by 17.5% in the 2nd quarter. FMR LLC now owns 4,437,332 shares of the biopharmaceutical company’s stock valued at $372,336,000 after buying an additional 661,542 shares in the last quarter. First Trust Advisors LP lifted its stake in Intercept Pharmaceuticals by 29.9% in the 3rd quarter. First Trust Advisors LP now owns 1,092,319 shares of the biopharmaceutical company’s stock valued at $138,025,000 after buying an additional 251,735 shares in the last quarter. Northern Trust Corp lifted its stake in Intercept Pharmaceuticals by 190.3% in the 2nd quarter. Northern Trust Corp now owns 257,755 shares of the biopharmaceutical company’s stock valued at $21,629,000 after buying an additional 168,955 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Intercept Pharmaceuticals by 104.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 110,805 shares of the biopharmaceutical company’s stock valued at $9,298,000 after buying an additional 56,556 shares in the last quarter. Finally, Alps Advisors Inc. purchased a new position in Intercept Pharmaceuticals in the 2nd quarter valued at about $3,562,000. 63.62% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on ICPT shares. Zacks Investment Research raised shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research note on Tuesday, November 13th. Wedbush set a $220.00 price target on shares of Intercept Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, November 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $170.00 price target on shares of Intercept Pharmaceuticals in a research note on Monday, October 1st. Roth Capital started coverage on shares of Intercept Pharmaceuticals in a research note on Wednesday, September 12th. They issued a “buy” rating and a $192.00 price target on the stock. Finally, B. Riley started coverage on shares of Intercept Pharmaceuticals in a research note on Tuesday, December 11th. They issued a “buy” rating and a $155.00 price target on the stock. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Intercept Pharmaceuticals currently has an average rating of “Buy” and an average target price of $148.59.
Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings data on Wednesday, October 31st. The biopharmaceutical company reported ($2.18) EPS for the quarter, beating the Zacks’ consensus estimate of ($2.65) by $0.47. The company had revenue of $47.00 million during the quarter, compared to the consensus estimate of $48.24 million. Intercept Pharmaceuticals had a negative net margin of 202.93% and a negative return on equity of 645.54%. Intercept Pharmaceuticals’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.89) EPS. Sell-side analysts predict that Intercept Pharmaceuticals Inc will post -10.32 EPS for the current year.
In other news, major shareholder S.P.A. Genextra sold 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $105.07, for a total transaction of $78,802,500.00. Following the completion of the sale, the insider now owns 6,095,578 shares in the company, valued at approximately $640,462,380.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Weyer sold 1,343 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $113.78, for a total transaction of $152,806.54. Following the sale, the executive vice president now owns 17,162 shares of the company’s stock, valued at approximately $1,952,692.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 812,527 shares of company stock valued at $85,195,134. 4.90% of the stock is owned by insiders.
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About Intercept Pharmaceuticals
Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics in the United States, Europe, and Canada. Its lead product candidate is obeticholic acid (OCA), a bile acid analog, which has a structure based on a naturally occurring human bile acid that selectively binds to and activates the farnesoid X receptor (FXR).
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