Company Update: Intercept Pharmaceuticals Inc (NASDAQ:ICPT) Given Outperform: Baird

Coverage of biopharmaceutical company Intercept Pharmaceuticals Inc (NASDAQ:ICPT) has been initiated by analysts at Robert W. Baird with an outperform rating and a price target of $258. The price target on the stock represents a potential upside of 88% from its Wednesday closing price. Shares of ICPT were bid higher in Thursday’s pre-market session at $138.55, and have a 52-week trading range of $53.51 – $497.

In terms of market cap, Intercept Pharmaceuticals Inc (NASDAQ:ICPT) is now valued at 3.07 billion. The company last reported earnings per share of -12.76 on November 07th. The company is expected to report earnings per share next year 47.10% higher than this year.  The five year earnings per share estimate is at -4.07%. In terms of ownership, company insiders have sold 33.00% of their stock over the past quarter while institutions have decreased their positions by 1.50%.  As a whole, institutions own 59.80% of the total outstanding shares.

Analysts Perspective

Several analysts have recently issued updates on the company. One recent update included FBR Capital reiterated of the stock on November 10th with an Underperform rating and $125 price target.  Prior to that, RBC Capital Mkts also weighed in on the stock.  RBC Capital Mkts reiterated their Outperform stance on the company on August 12th moving their price target from $425 to $500.  Analysts as a whole have a target price of $443.43 and a recommendation score of 2.10.

Company Profile

Intercept Pharmaceuticals Inc (NASDAQ:ICPT), a development stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics to treat chronic liver and intestinal diseases utilizing its proprietary bile acid chemistry. It primarily develops obeticholic acid, a bile acid analog that is in Phase III clinical trials for the treatment of primary biliary cirrhosis; in Phase IIa clinical trial to treat portal hypertension; in Phase II clinical trial for the treatment of alcoholic hepatitis; in Phase IIb clinical trial for the treatment of nonalcoholic steatohepatitis; and in Phase IIa clinical trial to treat bile acid diarrhea. The company was founded in 2002 and is headquartered in New York, New York.

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