The Vanguard Group, Inc. recently announced the acquisition of new stake in Intercept Pharmaceuticals Inc. (NASDAQ:ICPT). The institutional investor has increased its shareholding in the Healthcare company by 5.94% to 2.4 million shares with purchase of 0.13 million shares. This fresh investment now brings its stake to 7.30% valued currently at $109.69 million. In addition, BlackRock Fund Advisors raised its holdings by 0.11 million to 2.09 million shares. And SSgA Funds Management, Inc. has lifted its position by 8.53% or 98552.0 shares – to 1.25 million shares.
With over 1.49 million Intercept Pharmaceuticals Inc. (ICPT) shares trading Tuesday and a closing price of $44.53 on the day, the dollar volume was approximately $66.42 million. The shares have shown a negative weekly performance of -10.99% and its price on 09/01/20 lost nearly -10.73%. Currently, there are 32.96M common shares owned by the public and among those 27.80M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 25 analysts who have offered their price forecasts for ICPT have a consensus price objective of $67.68. The analysts have set the share’s price value over the next 12 months at a high of $140.00 and a low of $46.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Intercept Pharmaceuticals Inc. stock is 2.60 for the next 12 months. The average price target is 34.21% above its last price level and an upside to the estimated low will see the stock gain 3.2% over that period. But an upside of 68.19% will see the stock hit the forecast high price target while mean target price for the stock is $57.50.
Insiders at the company have transacted a total of 139 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 36 of these insider trades were purchases, accounting for 138,128 shares. Insider sales of the common stock occurred on 103 occasions, with total insider shares sold totaling 5,794,674 shares.
The top 3 mutual fund holders in Intercept Pharmaceuticals Inc. are First Trust NYSE Arca Biotechnolo, Fidelity Series Large Cap Stock F, and SPDR S&P Biotech ETF. First Trust NYSE Arca Biotechnolo owns 1.58 million shares of the company’s stock, all valued at over $72.29 million. Fidelity Series Large Cap Stock F bought 41241.0 shares to see its total holdings expand to 0.79 million shares valued at over $35.85 million and representing 2.38% of the shares outstanding. SPDR S&P Biotech ETF sold 7749.0 shares to bring its total holdings to over 0.77 million shares at a value of $35.26 million. SPDR S&P Biotech ETF now owns shares totaling to 2.35% of the shares outstanding.
Shares of Intercept Pharmaceuticals Inc. (NASDAQ: ICPT) opened at $49.56, down -$0.32 from a prior closing price of $49.88. However, the script later closed the day at $44.53, down -10.73%. The company’s stock has a 5-day price change of -10.99% and -41.92% over the past three months. ICPT shares are trading -64.07% year to date (YTD), with the 12-month market performance down to -27.44% lower. It has a 12-month low price of $42.19 and touched a high of $125.00 over the same period. Currently, 1.49 million shares have been traded, compared to an average intraday trading volume of 963.41K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -10.01%, -12.31%, and -44.27% respectively.
Institutional ownership of Intercept Pharmaceuticals Inc. (NASDAQ: ICPT) shares accounts for 83.90% of the company’s 32.96M shares outstanding. Mutual fund holders own 28.72%, while other institutional holders and individual stakeholders account for 54.36% and 22.03% respectively.
It has a market capitalization of $1.45B and a beta (3y monthly) value of 1.61. The earnings-per-share (ttm) stands at -$10.36. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.67% over the week and 5.20% over the month.
Analysts forecast that Intercept Pharmaceuticals Inc. (ICPT) will achieve an EPS of -$1.95 for the current quarter, -$1.84 for the next quarter and -$7.84 for 2021. The lowest estimate earnings-per-share for the quarter is -$3.09 while analysts give the company a high EPS estimate of -$1.2. Comparatively, EPS for the current quarter was -$2.59 a year ago. Earnings per share for the fiscal year are expected to decrease by -0.20%, and 9.00% over the next financial year. EPS should shrink at an annualized rate of -8.89% over the next five years, compared to 4.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 25 brokerage firm advisors rate Intercept Pharmaceuticals Inc. (ICPT) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 18 of the 25 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ICPT, a number of firms have released research notes about the stock. Piper Sandler stated their Overweight rating for the stock in a research note on July 31, 2020, with the firm’s price target at $82. JMP Securities coverage for the Intercept Pharmaceuticals Inc. (ICPT) stock in a research note released on July 21, 2020 offered a Mkt Perform rating with a price target of. Citigroup was of a view on June 30, 2020 that the stock is Buy, while UBS gave the stock Neutral rating on June 30, 2020, issuing a price target of $135- $57. Robert W. Baird on their part issued Neutral rating on June 30, 2020.