Intercept Pharmaceuticals, Inc. to Post Q4 2023 Earnings of $0.21 Per Share, B. Riley Forecasts (NASDAQ:ICPT)

Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT – Get Rating) – Equities research analysts at B. Riley lifted their Q4 2023 earnings estimates for Intercept Pharmaceuticals in a research note issued on Monday, March 13th. B. Riley analyst M. Mamtani now forecasts that the biopharmaceutical company will earn $0.21 per share for the quarter, up from their previous forecast of $0.16. The consensus estimate for Intercept Pharmaceuticals’ current full-year earnings is ($1.37) per share. B. Riley also issued estimates for Intercept Pharmaceuticals’ FY2024 earnings at $1.32 EPS.

Other equities analysts have also issued reports about the stock. SVB Securities raised their price target on shares of Intercept Pharmaceuticals from $17.00 to $18.00 in a research report on Friday, March 3rd. HC Wainwright lowered their price target on shares of Intercept Pharmaceuticals from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 16th. Needham & Company LLC raised their price target on shares of Intercept Pharmaceuticals from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, March 3rd. Royal Bank of Canada raised their price target on shares of Intercept Pharmaceuticals from $17.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Friday, March 3rd. Finally, Raymond James raised their price target on shares of Intercept Pharmaceuticals from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Sunday, March 5th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $25.70.

Intercept Pharmaceuticals Price Performance

Shares of ICPT opened at $15.79 on Tuesday. The firm has a market capitalization of $657.97 million, a PE ratio of 2.44 and a beta of 1.29. The company’s 50-day moving average is $18.23 and its 200-day moving average is $16.02. Intercept Pharmaceuticals has a fifty-two week low of $10.81 and a fifty-two week high of $21.86. The company has a debt-to-equity ratio of 2.40, a current ratio of 2.35 and a quick ratio of 2.35.

Institutional Investors Weigh In On Intercept Pharmaceuticals

A number of hedge funds have recently made changes to their positions in ICPT. Point72 Asset Management L.P. boosted its stake in shares of Intercept Pharmaceuticals by 1,124.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,559,183 shares of the biopharmaceutical company’s stock valued at $21,751,000 after purchasing an additional 1,431,883 shares in the last quarter. ExodusPoint Capital Management LP boosted its position in Intercept Pharmaceuticals by 532.1% during the 4th quarter. ExodusPoint Capital Management LP now owns 530,567 shares of the biopharmaceutical company’s stock worth $6,563,000 after buying an additional 446,628 shares during the period. Vanguard Group Inc. boosted its position in Intercept Pharmaceuticals by 21.2% during the 1st quarter. Vanguard Group Inc. now owns 2,389,249 shares of the biopharmaceutical company’s stock worth $38,873,000 after buying an additional 417,490 shares during the period. Renaissance Technologies LLC boosted its position in Intercept Pharmaceuticals by 87.9% during the 3rd quarter. Renaissance Technologies LLC now owns 739,200 shares of the biopharmaceutical company’s stock worth $10,312,000 after buying an additional 345,800 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in Intercept Pharmaceuticals by 359.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 334,168 shares of the biopharmaceutical company’s stock worth $4,662,000 after buying an additional 261,412 shares during the period. 81.09% of the stock is currently owned by institutional investors and hedge funds.

Intercept Pharmaceuticals Company Profile

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Intercept Pharmaceuticals, Inc operates as a biopharmaceutical company. The firm engages in the research, development, and commercialization of novel therapeutics in treating chronic liver diseases. Its product pipeline includes OCALIVA, which is used for the treatment of biliary cholangitis, nonalcoholic steatohepatitis, sclerosing cholangitis and biliary atresia.