What’s in Intercept Pharmaceuticals, Inc. (ICPT) After Forming Bearish Multiple Bottom Chart Pattern?

February 21, 2018 - By Clifton Ray

Investors sentiment decreased to 1.33 in 2017 Q3. Its down 0.26, from 1.59 in 2017Q2. It dived, as 33 investors sold Intercept Pharmaceuticals, Inc. shares while 30 reduced holdings. 30 funds opened positions while 54 raised stakes. 18.23 million shares or 10.01% less from 20.26 million shares in 2017Q2 were reported.
Pub Employees Retirement Association Of Colorado has 4,111 shares. Fny Managed Accounts Ltd holds 0.55% or 7,200 shares. Pnc Financial Serv Inc owns 0% invested in Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) for 1,311 shares. Landscape Capital Management Ltd Liability reported 17,541 shares or 0.1% of all its holdings. Prelude Mngmt Limited has invested 0.01% in Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT). Fisher Asset Management Ltd holds 0% or 13,436 shares. Geode Ltd Liability, a Massachusetts-based fund reported 161,605 shares. Parametric Port Associate Ltd Liability Company holds 0% of its portfolio in Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) for 5,202 shares. 4,785 are owned by Oppenheimer And Inc. Invesco reported 6,280 shares. Guggenheim Capital Ltd holds 46,191 shares or 0.01% of its portfolio. Spark Invest Limited Com holds 0.39% of its portfolio in Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) for 125,900 shares. Morgan Stanley has invested 0% in Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT). Profund Advisors Limited Liability Corp has invested 0.02% in Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT). Northern Corporation stated it has 0% of its portfolio in Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT).

The stock of Intercept Pharmaceuticals, Inc. (ICPT) shows a multiple bottoms pattern with $57.74 target or 5.00 % below today’s $60.78 share price. The 6 months chart pattern indicates high risk for the $1.53 billion company. It was reported on Feb, 21 by Finviz.com. If the $57.74 price target is reached, the company will be worth $76.30M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.62% or $0.38 during the last trading session, reaching $60.78. About 642,853 shares traded. Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) has declined 14.52% since February 21, 2017 and is downtrending. It has underperformed by 31.22% the S&P500.

Analysts await Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) to report earnings on May, 3. They expect $-3.49 earnings per share, up 3.32 % or $0.12 from last year’s $-3.61 per share. After $-4.43 actual earnings per share reported by Intercept Pharmaceuticals, Inc. for the previous quarter, Wall Street now forecasts -21.22 % EPS growth.

Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) Ratings Coverage

Among 23 analysts covering Intercept Pharmaceuticals (NASDAQ:ICPT), 12 have Buy rating, 3 Sell and 8 Hold. Therefore 52% are positive. Intercept Pharmaceuticals has $423 highest and $45.0 lowest target. $154.49’s average target is 154.18% above currents $60.78 stock price. Intercept Pharmaceuticals had 73 analyst reports since August 10, 2015 according to SRatingsIntel. The rating was maintained by Oppenheimer with “Outperform” on Wednesday, November 18. The rating was maintained by Cantor Fitzgerald with “Sell” on Tuesday, September 12. The stock has “Outperform” rating by Wedbush on Wednesday, June 1. Bank of America maintained the shares of ICPT in report on Friday, October 13 with “Underperform” rating. The stock of Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) earned “Outperform” rating by Cowen & Co on Tuesday, May 31. The firm has “Hold” rating by Needham given on Friday, January 20. On Friday, December 4 the stock rating was initiated by Wells Fargo with “Market Perform”. The stock has “Perform” rating by Oppenheimer on Friday, September 22. Laidlaw downgraded it to “Sell” rating and $105 target in Friday, August 5 report. The stock has “Outperform” rating by Credit Suisse on Wednesday, March 30.

More recent Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) news were published by: Globenewswire.com which released: “Intercept Announces Updated US Prescribing Information for Ocaliva …” on February 01, 2018. Also Globenewswire.com published the news titled: “Intercept Announces Phase 3 REVERSE Trial Evaluating OCA for the Treatment of …” on February 12, 2018. Globenewswire.com‘s news article titled: “Intercept Pharmaceuticals Reports Full Year and Fourth Quarter 2017 Financial …” with publication date: February 14, 2018 was also an interesting one.

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