Q2 2023 Earnings Forecast for Intercept Pharmaceuticals, Inc. Issued By HC Wainwright (NASDAQ:ICPT)

Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT – Get Rating) – HC Wainwright lowered their Q2 2023 earnings estimates for shares of Intercept Pharmaceuticals in a research note issued on Monday, May 22nd. HC Wainwright analyst E. Arce now anticipates that the biopharmaceutical company will post earnings of ($0.70) per share for the quarter, down from their prior forecast of ($0.34). HC Wainwright currently has a “Sell” rating and a $8.00 target price on the stock. The consensus estimate for Intercept Pharmaceuticals’ current full-year earnings is ($1.68) per share. HC Wainwright also issued estimates for Intercept Pharmaceuticals’ Q3 2023 earnings at ($0.42) EPS, Q4 2023 earnings at ($0.05) EPS, FY2023 earnings at ($1.93) EPS, FY2024 earnings at $2.65 EPS, FY2025 earnings at $2.54 EPS, FY2026 earnings at $2.16 EPS and FY2027 earnings at $1.36 EPS.

Intercept Pharmaceuticals (NASDAQ:ICPT – Get Rating) last released its quarterly earnings results on Thursday, March 2nd. The biopharmaceutical company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.11. The firm had revenue of $77.22 million for the quarter, compared to analysts’ expectations of $76.89 million.

Other research analysts have also issued reports about the stock. Royal Bank of Canada upped their target price 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. SVB Leerink boosted their price target on shares of Intercept Pharmaceuticals from $17.00 to $18.00 and gave the stock a “market perform” rating in a research note on Friday, March 3rd. Piper Sandler boosted their price target on shares of Intercept Pharmaceuticals from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, April 10th. Needham & Company LLC downgraded shares of Intercept Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, SVB Securities boosted their price target on shares of Intercept Pharmaceuticals from $17.00 to $18.00 in a research note on Friday, March 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $23.27.

Intercept Pharmaceuticals Stock Down 2.7 %

Shares of NASDAQ:ICPT opened at $9.17 on Wednesday. Intercept Pharmaceuticals has a 52-week low of $8.82 and a 52-week high of $21.86. The firm has a fifty day moving average of $15.25 and a 200 day moving average of $15.98. The firm has a market capitalization of $382.30 million, a PE ratio of 1.46 and a beta of 1.26. The company has a debt-to-equity ratio of 3.32, a quick ratio of 2.37 and a current ratio of 2.37.

Institutional Trading of Intercept Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Intercept Pharmaceuticals by 8.0% during the third quarter. BlackRock Inc. now owns 2,936,187 shares of the biopharmaceutical company’s stock worth $40,960,000 after purchasing an additional 217,833 shares during the period. Vanguard Group Inc. lifted its holdings in Intercept Pharmaceuticals by 7.9% in the third quarter. Vanguard Group Inc. now owns 2,706,414 shares of the biopharmaceutical company’s stock worth $37,755,000 after buying an additional 197,255 shares during the period. Point72 Asset Management L.P. lifted its holdings in Intercept Pharmaceuticals by 1,124.8% in the third quarter. Point72 Asset Management L.P. now owns 1,559,183 shares of the biopharmaceutical company’s stock worth $21,751,000 after buying an additional 1,431,883 shares during the period. Renaissance Technologies LLC lifted its holdings in Intercept Pharmaceuticals by 48.3% in the first quarter. Renaissance Technologies LLC now owns 1,050,200 shares of the biopharmaceutical company’s stock worth $14,104,000 after buying an additional 341,900 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Intercept Pharmaceuticals by 20.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 780,945 shares of the biopharmaceutical company’s stock worth $10,894,000 after buying an additional 135,254 shares during the period. 81.09% of the stock is currently owned by hedge funds and other institutional investors.

About Intercept Pharmaceuticals

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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.