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Watch for Continued Losses in Shares of Intercept Pharma (ICPT)

By Shiri Gupta

Intercept Pharma (NASDAQ:ICPT) traded at a new 52-week low today of $68.01. This new low was reached on below average trading volume as 69,000 shares traded hands, while the average 30-day volume is approximately 643,000 shares.

In the past 52 weeks, Intercept Pharma share prices have been bracketed by a current low of $68.01 and a high of $133.74 and are now at $68.88. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.3% while the 200-day MA has slid 0.8%.

Potential upside of 67.9% exists for Intercept Pharma, based on a current level of $68.88 and analysts' average consensus price target of $115.62. The stock should run into initial resistance at its 50-day moving average (MA) of $81.83 and subsequent resistance at its 200-day MA of $99.60.

Intercept Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the development and commercialization of therapeutics in the United States, Europe, and Canada. Its lead product candidate is obeticholic acid (OCA), a bile acid analog, which has a structure based on a naturally occurring human bile acid that selectively binds to and activates the farnesoid X receptor (FXR).

SmarTrend recommended that its subscribers protect gains by selling shares of Intercept Pharma on April 12th, 2019 by issuing a Downtrend alert when the shares were trading at $98.45. Since that call, shares of Intercept Pharma have fallen 30.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows intercept pharma

Ticker(s): ICPT