Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 3.08MM shares of Intercept Pharmaceuticals Inc (ICPT). This represents 7.4% of the company.
In their previous filing dated February 3, 2022 they reported 2.23MM shares and 7.60% of the company, an increase in shares of 38.20% and a decrease in total ownership of 0.20% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 29.55% Upside
As of January 31, 2023, the average one-year price target for Intercept Pharmaceuticals is $23.24. The forecasts range from a low of $11.11 to a high of $51.45. The average price target represents an increase of 29.55% from its latest reported closing price of $17.94.
The projected annual revenue for Intercept Pharmaceuticals is $333MM, a decrease of 12.34%. The projected annual EPS is $-2.70.
Fund Sentiment
There are 338 funds or institutions reporting positions in Intercept Pharmaceuticals. This is a decrease of 0 owner(s) or 0.00%.
Average portfolio weight of all funds dedicated to US:ICPT is 0.0594%, an increase of 3.5684%. Total shares owned by institutions increased in the last three months by 15.90% to 32,189K shares.
What are large shareholders doing?
XBI - SPDR Biotech ETF holds 2,463,819 shares representing 5.95% ownership of the company. In it's prior filing, the firm reported owning 2,884,166 shares, representing a decrease of 17.06%. The firm decreased its portfolio allocation in ICPT by 13.61% over the last quarter.
Point72 Asset Management holds 1,559,183 shares representing 3.76% ownership of the company. In it's prior filing, the firm reported owning 127,300 shares, representing an increase of 91.84%. The firm increased its portfolio allocation in ICPT by 1,071.27% over the last quarter.
Millennium Management holds 1,177,749 shares representing 2.84% ownership of the company. In it's prior filing, the firm reported owning 332,607 shares, representing an increase of 71.76%. The firm increased its portfolio allocation in ICPT by 240.98% over the last quarter.
VSEQX - Vanguard Strategic Equity Fund Investor Shares holds 873,871 shares representing 2.11% ownership of the company. In it's prior filing, the firm reported owning 750,460 shares, representing an increase of 14.12%. The firm increased its portfolio allocation in ICPT by 22.19% over the last quarter.
Eventide Asset Management holds 800,000 shares representing 1.93% ownership of the company. No change in the last quarter.
Intercept Pharmaceuticals Background Information
(This description is provided by the company.)
Intercept is a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat progressive non-viral liver diseases, including primary biliary cholangitis (PBC) and nonalcoholic steatohepatitis (NASH). Founded in 2002 in New York, Intercept has operations in the United States, Europe and Canada.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
