The stock of Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) is now priced at $44.53 and the shares are -5.35 points down or -10.73% lower compared to its previous closing price of $49.88. The stock had 1.494 million contracts set over the past session. ICPT shares’ daily volume is compared to its average trading volume at 963335 shares. However, it has a float of 27.8 million and although its performance was -10.99% over the week, it’s one to watch. Analysts have given the ICPT stock a yearly average price target of $67.68 per share. It means the stock’s upside potential is 51.99% with the ICPT share price recently placing at $44.2701 to $49.72. However, some brokerage firms have priced the stock below the average, including one that has called $46.
The shorts are running away from the Intercept Pharmaceuticals, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the ICPT shares have declined. Short interest in the stock represents just 19.81% of its float, but the volume has dropped by -410086. The volume of shorted shares dropped to 5.507 million from 5.917 million shares over the last two weeks. The average intraday trading volume has been 850758 shares, which means that days to cover moved to roughly 6.472854.
In the last trading session, Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) dropped by -$5.5 over the week and lost -$3.05 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $125. The stock recorded its established 52-week high on 12/31/19.
Since 07/14/20, the stock has traded to a low of $42.19 at 5.55%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.61. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Intercept Pharmaceuticals, Inc.’s two-week RSI is 38.86. This suggests that the stock is neutral at the moment and that ICPT shares’ price movement remains stable. The stochastic readings are equally revealing at 28.81% meaning the ICPT share price is currently in overbought territory.
The technical chart shows that the ICPT stock will likely settle at between $48.08 and $51.62 per share. However, if the stock dips below $42.63, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $40.72.
Currently, the stock is trading in the red of MACD, with a reading of -0.59. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned ICPT a rating of Overweight in their intiating review released on July 31. JMP Securities analysts downgraded their recommendation of the stock from Mkt Outperform to Mkt Perform in a flash note released to investors on July 21. Citigroup seeing the improvements upgraded the stock from Neutral to Buy on June 30.
The average rating for the ICPT equity is 2.57 and is currently gathering a bullish momentum. Of 24 analysts tracking Intercept Pharmaceuticals, Inc. polled by Reuters, 17 rated ICPT as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (7) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) will decrease by about -99.9%, which will see them reach $78.87 million. The company’s full-year revenues are, however, expected to increase by about 23.8%, up from $252 million to $312 million. ICPT’s expected adjusted earnings should drop almost -24.71% to end up at -$1.95 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -20.84% to record -$8.62/share.