Intercept Pharmaceuticals Inc. (NASDAQ: ICPT) stock fell -1.04% on Friday to $11.45 against a previous-day closing price of $11.57. With 3.65 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.97 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $11.60 whereas the lowest price it dropped to was $11.20. The 52-week range on ICPT shows that it touched its highest point at $21.86 and its lowest point at $8.82 during that stretch. It currently has a 1-year price target of $14.58. Beta for the stock currently stands at 1.22.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ICPT was up-trending over the past week, with a rise of 1.87%, but this was up by 14.27% over a month. Three-month performance dropped to -3.13% while six-month performance fell -26.41%. The stock lost -31.93% in the past year, while it has lost -7.44% so far this year. A look at the trailing 12-month EPS for ICPT yields -4.35 with Next year EPS estimates of 2.29. For the next quarter, that number is -0.44. This implies an EPS growth rate of -20.90% for this year and 277.50% for next year. EPS is expected to decline by -8.89% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 18.50%.
Float and Shares Shorts:
At present, 41.73 million ICPT shares are outstanding with a float of 40.48 million shares on hand for trading. On Aug 30, 2023, short shares totaled 10.4 million, which was 24.89% higher than short shares on Jul 30, 2023. In addition to ICCT as the firm’s iCoreConnect Inc., CPT serves as its Camden Property Trust.
Through their ownership of 81.30% of ICPT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.41% of ICPT, in contrast to 33.13% held by mutual funds. Shares owned by individuals account for 19.75%. As the largest shareholder in ICPT with 11.05% of the stake, The Vanguard Group, Inc. holds 4,616,418 shares worth 4,616,418. A second-largest stockholder of ICPT, SSgA Funds Management, Inc., holds 4,180,224 shares, controlling over 10.01% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ICPT, holding 2,356,747 shares or 5.64% stake. With a 8.52% stake in ICPT, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 3,559,074 shares are owned by the mutual fund manager. The Vanguard Strategic Equity Fund, which owns about 3.16% of ICPT stock, is the second-largest Mutual Fund holder. It holds 1,320,226 shares valued at 14.3 million. Vanguard Total Stock Market ETF holds 2.69% of the stake in ICPT, owning 1,123,441 shares worth 12.17 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ICPT reported revenue of $71.76M and operating income of -$13.36M. The EBITDA in the recently reported quarter was -$14.42M and diluted EPS was -$0.25.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ICPT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ICPT analysts setting a high price target of $20.00 and a low target of $10.00, the average target price over the next 12 months is $14.58. Based on these targets, ICPT could surge 74.67% to reach the target high and fall by -12.66% to reach the target low. Reaching the average price target will result in a growth of 27.34% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ICPT stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 1,679 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 188,688 while 24,324 shares were sold.