Intercept Pharmaceuticals Inc (ICPT) was Downgraded by Laidlaw to ” Sell” while Lowering the Price Target of the company shares to $ 105 from a previous price target of $345 . Earlier the firm had a rating of “Buy ” on the company shares. Laidlaw advised their investors in a research report released on Aug 5, 2016.
Many Wall Street Analysts have commented on Intercept Pharmaceuticals Inc. Cantor Fitzgerald Initiated Intercept Pharmaceuticals Inc on Jul 6, 2016 to “Sell”, Price Target of the shares are set at $58.Shares were Reiterated by Wedbush on Jun 1, 2016 to “Outperform” and Lowered the Price Target to $ 239 from a previous price target of $423 .
On the company’s financial health, Intercept Pharmaceuticals Inc reported $-3.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.53 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-3.67. The company had revenue of $5.52 million for the quarter, compared to analysts expectations of $.87 million. The company’s revenue was up 1140.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.99 EPS.
Intercept Pharmaceuticals Inc closed down -9.38 points or -5.43% at $163.21 with 6,29,568 shares getting traded on Thursday. Post opening the session at $170.77, the shares hit an intraday low of $160.4 and an intraday high of $173.58 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Aug 2, 2016, Rachel Mcminn (Chief Strategy Officer) sold 125 shares at $176.57 per share price. According to the SEC, on Jul 7, 2016, Barbara Gayle Duncan (Chief Accounting Officer) sold 146 shares at $145.11 per share price. On Jul 7, 2016, David Shapiro (CMO and EVP – Development) sold 163 shares at $145.11 per share price, according to the Form-4 filing with the securities and exchange commission.
Intercept Pharmaceuticals Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat chronic liver diseases utilizing its bile acid chemistry. The Companys product candidate obeticholic acid (OCA) 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). The Company is also developing other products INT-767 and INT-777 for the treatment of fibrosis and type 2 diabetes. OCA has been tested in five placebo-controlled clinical trials including a completed Phase III clinical trial in patients with primary biliary cirrhosis (PBC) and two Phase II clinical trials in patients with nonalcoholic fatty liver disease (NAFLD) and nonalcoholic steatohepatitis (NASH). OCA met the primary efficacy endpoint in each of these trials with statistical significance.