Ft Options Lowers stake in Intercept Pharmaceuticals Inc (ICPT)

Intercept Pharmaceuticals Inc (ICPT) : Ft Options reduced its stake in Intercept Pharmaceuticals Inc by 29.61% during the most recent quarter end. The investment management company now holds a total of 10,779 shares of Intercept Pharmaceuticals Inc which is valued at $1,756,869 after selling 4,535 shares in Intercept Pharmaceuticals Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Intercept Pharmaceuticals Inc makes up approximately 2.13% of Ft Options’s portfolio.

Other Hedge Funds, Including , Ubs Oconnor added ICPT to its portfolio by purchasing 14,009 company shares during the most recent quarter which is valued at $2,283,327. Intercept Pharmaceuticals Inc makes up approx 0.07% of Ubs Oconnor’s portfolio. Dimensional Fund Advisors Lp added ICPT to its portfolio by purchasing 30,749 company shares during the most recent quarter which is valued at $4,961,044.California Public Employees Retirement System reduced its stake in ICPT by selling 1,200 shares or 3.25% in the most recent quarter. The Hedge Fund company now holds 35,700 shares of ICPT which is valued at $6,161,463. Intercept Pharmaceuticals Inc makes up approx 0.01% of California Public Employees Retirement System’s portfolio.

Intercept Pharmaceuticals Inc closed down -3.37 points or -2.17% at $151.59 with 4,09,786 shares getting traded on Monday. Post opening the session at $154.99, the shares hit an intraday low of $151.22 and an intraday high of $156.49 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

Many Wall Street Analysts have commented on Intercept Pharmaceuticals Inc. Shares were Downgraded by Laidlaw on Aug 5, 2016 to ” Sell” and Lowered the Price Target to $ 105 from a previous price target of $345 .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 .

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 Company’s 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.

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