Robert W. Baird Thinks Intercept Pharma’s Stock is Going to Recover

By Austin Angelo

Robert W. Baird analyst Brian Skorney maintained a Buy rating on Intercept Pharma (ICPTResearch Report) on July 29 and set a price target of $52.00. The company’s shares closed last Friday at $17.28, close to its 52-week low of $13.88.

According to TipRanks.com, Skorney is a 3-star analyst with an average return of 2.0% and a 46.6% success rate. Skorney covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, Enanta Pharmaceuticals, and Vertex Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Intercept Pharma with a $29.60 average price target, which is a 72.3% upside from current levels. In a report issued on July 29, Piper Sandler also maintained a Buy rating on the stock with a $82.00 price target.

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Based on Intercept Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $81.66 million and GAAP net loss of $40.42 million. In comparison, last year the company earned revenue of $72.65 million and had a GAAP net loss of $92.98 million.

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Intercept Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in the research, development, and commercialization of novel therapeutics in treating chronic liver diseases. Its product pipeline is OCALIVA which is used for the treatment of primary biliary cholangitis, nonalcoholic steatohepatitis, primary sclerosing cholangitis, and biliary atresia. The company was founded by Mark E. Pruzanski and Roberto Pellicciari on September 4, 2002 and is headquartered in New York, NY.