Analysis: Intercept Pharmaceuticals (NASDAQ:ICPT) Target Increased Today
In an interesting research report issued to clients by JMP Securities on 18 December, the firm, Intercept Pharmaceuticals (NASDAQ:ICPT), had their target price per share lowered to $348.00. Analusts presently have a solid “Market Outperform” rating on the stock.
From a total of 15 analysts covering Intercept Pharmaceuticals (NASDAQ:ICPT) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $515 while the lowest target price is $110. The mean of all analyst targets is $358 with a 48.62% above today’s ($156.08) stock price. Intercept Pharmaceuticals was the topic of 9 analyst reports since August 10, 2015 according to the firm StockzIntelligence Inc. Wells Fargo initiated shares on December 4 with “Market Perform” rating. Morgan Stanley initiated shares with “Underweight” rating and $165 target share price in a report from an August 13. FBR Capital maintained ICPT stock in a recent report from November 11 with “Mkt Perform” rating. Finally, Vetr upgraded the stock to “Strong-Buy” rating in a report issued on a September 22.
The stock decreased 5.95% or $9.87 during the last trading session, striking $156.08. Approximately 1.05 million shares of stock traded hands or 99.29% up from the average. Intercept Pharmaceuticals Inc (NASDAQ:ICPT) has declined 45.81% since May 15, 2015 and is downtrending. It has underperformed by 42.00% the S&P500.
The overall sentiment of institutions has decreased to 1.31 in Q2 2015. Its down 0.10, from 1.41 in 2015Q2. The ratio is negative, as 37 institutions have sold all the shares of Intercept Pharmaceuticals Inc that they owned while 40 funds have taken shares off the table. 20 funds have purchased shares for the first time while 81 added to their positions. These institutions now hold 18.34 million shares or 3.40% more than the 17.73 million shares they owned in 2015Q2.
The Fund Carmignac Gestion currently is holding shares equating to 2.77% of its total portfolio in Intercept Pharmaceuticals Inc representing a total of 1.32 million shares. Another fund,Orbimed Advisors Llc, is holding a total of 1.12 million shares equating to 1.88% of their holdings. Additionally, Sectoral Asset Management Inc has a 219,647 share stake in Intercept Pharmaceuticals Inc which represents 1.67% of their total portfolio. The Fund, Bb Biotech Ag, based out of Switzerland, has also built up a stake in the stock, which represents a total of 1.11% of their total portfolio. Finally Rhenman & Partners Asset Management Ab, a fund which is based in the state of Sweden reported a total holdings of 32,000 shares.
Intercept Pharmaceuticals, Inc. is a biopharmaceutical company. The company has a market cap of $4.27 billion. The Firm is focused on the development and commercialization of therapeutics to treat chronic liver diseases utilizing its bile acid chemistry. It currently has negative earnings. The Company’s product candidate, obeticholic acid , is a bile acid analog, a chemical substance that has a structure based on a naturally occurring human bile acid that selectively binds to and activates the farnesoid X receptor (FXR).
According to Zacks Investment Research, “Intercept Pharmaceuticals Inc. is a biopharmaceutical company focused on the development and commercialization of therapeutics to treat chronic liver disease. The company’s lead product candidate, obeticholic acid, or OCA, is a bile acid analog and first-in-class agonist of the farnesoid X receptor (FXR). OCA is initially being developed for the second line treatment of primary biliary cirrhosis (PBC). Intercept Pharmaceuticals Inc. is headquartered in New York.”