Intercept Pharmaceuticals (ICPT) Jumps: Stock Adds 9.5% – Tale of the Tape

February 6, 2015 Technicals 0

Zacks

Intercept Pharmaceuticals, Inc. (ICPT) was a big mover last session with its shares rising roughly 10% on the day. The upside was a result of the company announcing the pricing of an underwritten public offering of 1,000,000 shares of its common stock at a price of $176.00 per share. This development led to far more shares changing hands yesterday than in a normal session. The move breaks the recent trend of the company as the stock is now trading above the past one month’s volatile price range of $146.18 to $201.03.

This development stage biopharmaceutical company has seen no estimate revision in the last 60 days. However, the Zacks Consensus Estimate has moved higher over the same period. This implies solid trading potential for the company. So make sure to keep an eye on this stock going forward to see if yesterday’s rally can turn into more strength down the road.

Intercept Pharmaceuticals currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.

Investors interested in the bio-med/gene industry can consider Affymetrix Inc. (AFFX) which sports a Zacks Rank #1 (Strong Buy).

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