Intrinsic value of Intercept Pharmaceuticals, Inc. - ICPT

Previous Close

$79.52

  Intrinsic Value

$0.08

stock screener

  Rating & Target

str. sell

-100%

Previous close

$79.52

 
Intrinsic value

$0.08

 
Up/down potential

-100%

 
Rating

str. sell

We calculate the intrinsic value of ICPT stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  41.40
  37.76
  34.48
  31.54
  28.88
  26.49
  24.34
  22.41
  20.67
  19.10
  17.69
  16.42
  15.28
  14.25
  13.33
  12.49
  11.74
  11.07
  10.46
  9.92
  9.43
  8.98
  8.58
  8.23
  7.90
  7.61
  7.35
  7.12
  6.90
  6.71
Revenue, $m
  255
  351
  472
  620
  799
  1,011
  1,257
  1,539
  1,857
  2,212
  2,603
  3,031
  3,494
  3,992
  4,524
  5,089
  5,687
  6,316
  6,977
  7,669
  8,392
  9,146
  9,931
  10,748
  11,598
  12,481
  13,398
  14,352
  15,343
  16,373
Variable operating expenses, $m
  906
  1,248
  1,678
  2,206
  2,843
  3,596
  4,471
  5,473
  6,604
  7,866
  9,256
  10,776
  12,423
  14,193
  16,085
  18,094
  20,220
  22,458
  24,808
  27,268
  29,838
  32,518
  35,310
  38,215
  41,235
  44,374
  47,637
  51,027
  54,550
  58,213
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  906
  1,248
  1,678
  2,206
  2,843
  3,596
  4,471
  5,473
  6,604
  7,866
  9,256
  10,776
  12,423
  14,193
  16,085
  18,094
  20,220
  22,458
  24,808
  27,268
  29,838
  32,518
  35,310
  38,215
  41,235
  44,374
  47,637
  51,027
  54,550
  58,213
Operating income, $m
  -651
  -897
  -1,206
  -1,586
  -2,044
  -2,585
  -3,214
  -3,934
  -4,747
  -5,654
  -6,653
  -7,745
  -8,929
  -10,201
  -11,561
  -13,005
  -14,533
  -16,141
  -17,830
  -19,599
  -21,446
  -23,372
  -25,379
  -27,466
  -29,637
  -31,894
  -34,238
  -36,675
  -39,207
  -41,840
EBITDA, $m
  -647
  -891
  -1,198
  -1,576
  -2,031
  -2,569
  -3,194
  -3,910
  -4,718
  -5,620
  -6,614
  -7,700
  -8,877
  -10,142
  -11,494
  -12,930
  -14,448
  -16,048
  -17,727
  -19,485
  -21,322
  -23,237
  -25,232
  -27,307
  -29,466
  -31,709
  -34,040
  -36,463
  -38,980
  -41,598
Interest expense (income), $m
  0
  31
  10
  18
  27
  39
  53
  70
  89
  111
  136
  164
  195
  228
  265
  304
  346
  390
  437
  487
  539
  593
  650
  710
  771
  836
  902
  972
  1,044
  1,119
  1,197
Earnings before tax, $m
  -683
  -907
  -1,224
  -1,613
  -2,083
  -2,638
  -3,284
  -4,023
  -4,858
  -5,790
  -6,817
  -7,940
  -9,157
  -10,466
  -11,865
  -13,351
  -14,923
  -16,579
  -18,317
  -20,138
  -22,039
  -24,023
  -26,088
  -28,238
  -30,473
  -32,796
  -35,210
  -37,719
  -40,326
  -43,037
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -683
  -907
  -1,224
  -1,613
  -2,083
  -2,638
  -3,284
  -4,023
  -4,858
  -5,790
  -6,817
  -7,940
  -9,157
  -10,466
  -11,865
  -13,351
  -14,923
  -16,579
  -18,317
  -20,138
  -22,039
  -24,023
  -26,088
  -28,238
  -30,473
  -32,796
  -35,210
  -37,719
  -40,326
  -43,037

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  265
  365
  491
  645
  832
  1,052
  1,308
  1,602
  1,933
  2,302
  2,709
  3,154
  3,636
  4,154
  4,708
  5,296
  5,918
  6,573
  7,261
  7,981
  8,733
  9,517
  10,334
  11,184
  12,068
  12,987
  13,942
  14,934
  15,965
  17,037
Adjusted assets (=assets-cash), $m
  265
  365
  491
  645
  832
  1,052
  1,308
  1,602
  1,933
  2,302
  2,709
  3,154
  3,636
  4,154
  4,708
  5,296
  5,918
  6,573
  7,261
  7,981
  8,733
  9,517
  10,334
  11,184
  12,068
  12,987
  13,942
  14,934
  15,965
  17,037
Revenue / Adjusted assets
  0.962
  0.962
  0.961
  0.961
  0.960
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
Average production assets, $m
  19
  26
  35
  46
  59
  75
  93
  114
  137
  164
  193
  224
  259
  295
  335
  377
  421
  467
  516
  568
  621
  677
  735
  795
  858
  924
  991
  1,062
  1,135
  1,212
Working capital, $m
  -96
  -132
  -178
  -234
  -301
  -381
  -474
  -580
  -700
  -834
  -981
  -1,143
  -1,317
  -1,505
  -1,706
  -1,919
  -2,144
  -2,381
  -2,630
  -2,891
  -3,164
  -3,448
  -3,744
  -4,052
  -4,372
  -4,705
  -5,051
  -5,411
  -5,784
  -6,173
Total debt, $m
  120
  210
  323
  462
  630
  828
  1,059
  1,323
  1,621
  1,953
  2,319
  2,720
  3,153
  3,620
  4,118
  4,647
  5,207
  5,797
  6,416
  7,064
  7,741
  8,447
  9,182
  9,947
  10,743
  11,570
  12,429
  13,322
  14,250
  15,215
Total liabilities, $m
  238
  328
  442
  581
  749
  947
  1,178
  1,441
  1,739
  2,072
  2,438
  2,838
  3,272
  3,739
  4,237
  4,766
  5,326
  5,916
  6,535
  7,183
  7,860
  8,566
  9,301
  10,066
  10,862
  11,688
  12,548
  13,441
  14,369
  15,334
Total equity, $m
  26
  36
  49
  65
  83
  105
  131
  160
  193
  230
  271
  315
  364
  415
  471
  530
  592
  657
  726
  798
  873
  952
  1,033
  1,118
  1,207
  1,299
  1,394
  1,493
  1,597
  1,704
Total liabilities and equity, $m
  264
  364
  491
  646
  832
  1,052
  1,309
  1,601
  1,932
  2,302
  2,709
  3,153
  3,636
  4,154
  4,708
  5,296
  5,918
  6,573
  7,261
  7,981
  8,733
  9,518
  10,334
  11,184
  12,069
  12,987
  13,942
  14,934
  15,966
  17,038
Debt-to-equity ratio
  4.510
  5.740
  6.580
  7.160
  7.570
  7.870
  8.090
  8.260
  8.390
  8.480
  8.560
  8.620
  8.670
  8.710
  8.750
  8.780
  8.800
  8.820
  8.840
  8.850
  8.860
  8.880
  8.890
  8.890
  8.900
  8.910
  8.910
  8.920
  8.930
  8.930
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -683
  -907
  -1,224
  -1,613
  -2,083
  -2,638
  -3,284
  -4,023
  -4,858
  -5,790
  -6,817
  -7,940
  -9,157
  -10,466
  -11,865
  -13,351
  -14,923
  -16,579
  -18,317
  -20,138
  -22,039
  -24,023
  -26,088
  -28,238
  -30,473
  -32,796
  -35,210
  -37,719
  -40,326
  -43,037
Depreciation, amort., depletion, $m
  5
  6
  8
  10
  13
  16
  20
  24
  28
  34
  39
  45
  52
  59
  67
  75
  84
  93
  103
  114
  124
  135
  147
  159
  172
  185
  198
  212
  227
  242
Funds from operations, $m
  -678
  -901
  -1,216
  -1,603
  -2,070
  -2,622
  -3,264
  -3,999
  -4,830
  -5,756
  -6,778
  -7,895
  -9,105
  -10,407
  -11,798
  -13,276
  -14,839
  -16,485
  -18,214
  -20,024
  -21,915
  -23,887
  -25,941
  -28,079
  -30,301
  -32,611
  -35,012
  -37,507
  -40,099
  -42,795
Change in working capital, $m
  -28
  -36
  -46
  -56
  -68
  -80
  -93
  -106
  -120
  -134
  -148
  -161
  -175
  -188
  -201
  -213
  -225
  -237
  -249
  -261
  -273
  -284
  -296
  -308
  -320
  -333
  -346
  -359
  -374
  -388
Cash from operations, $m
  -650
  -865
  -1,170
  -1,547
  -2,002
  -2,542
  -3,171
  -3,893
  -4,710
  -5,622
  -6,631
  -7,734
  -8,931
  -10,219
  -11,597
  -13,063
  -14,613
  -16,248
  -17,965
  -19,763
  -21,643
  -23,603
  -25,645
  -27,771
  -29,981
  -32,278
  -34,666
  -37,147
  -39,726
  -42,406
Maintenance CAPEX, $m
  -3
  -4
  -5
  -7
  -9
  -12
  -15
  -19
  -23
  -27
  -33
  -39
  -45
  -52
  -59
  -67
  -75
  -84
  -93
  -103
  -114
  -124
  -135
  -147
  -159
  -172
  -185
  -198
  -212
  -227
New CAPEX, $m
  -6
  -7
  -9
  -11
  -13
  -16
  -18
  -21
  -24
  -26
  -29
  -32
  -34
  -37
  -39
  -42
  -44
  -47
  -49
  -51
  -53
  -56
  -58
  -60
  -63
  -65
  -68
  -71
  -73
  -76
Cash from investing activities, $m
  -9
  -11
  -14
  -18
  -22
  -28
  -33
  -40
  -47
  -53
  -62
  -71
  -79
  -89
  -98
  -109
  -119
  -131
  -142
  -154
  -167
  -180
  -193
  -207
  -222
  -237
  -253
  -269
  -285
  -303
Free cash flow, $m
  -658
  -876
  -1,184
  -1,565
  -2,025
  -2,570
  -3,204
  -3,932
  -4,756
  -5,676
  -6,692
  -7,804
  -9,010
  -10,308
  -11,696
  -13,171
  -14,733
  -16,379
  -18,107
  -19,918
  -21,810
  -23,783
  -25,839
  -27,978
  -30,203
  -32,515
  -34,919
  -37,416
  -40,012
  -42,710
Issuance/(repayment) of debt, $m
  -252
  90
  113
  139
  168
  198
  231
  264
  298
  332
  366
  400
  434
  466
  498
  529
  560
  590
  619
  648
  677
  706
  735
  765
  796
  827
  859
  893
  928
  965
Issuance/(repurchase) of shares, $m
  1,012
  917
  1,236
  1,629
  2,101
  2,660
  3,309
  4,052
  4,891
  5,827
  6,857
  7,984
  9,205
  10,518
  11,920
  13,410
  14,985
  16,644
  18,386
  20,210
  22,114
  24,101
  26,170
  28,323
  30,561
  32,888
  35,306
  37,818
  40,430
  43,144
Cash from financing (excl. dividends), $m  
  760
  1,007
  1,349
  1,768
  2,269
  2,858
  3,540
  4,316
  5,189
  6,159
  7,223
  8,384
  9,639
  10,984
  12,418
  13,939
  15,545
  17,234
  19,005
  20,858
  22,791
  24,807
  26,905
  29,088
  31,357
  33,715
  36,165
  38,711
  41,358
  44,109
Total cash flow (excl. dividends), $m
  102
  132
  165
  203
  244
  289
  335
  384
  433
  483
  532
  581
  629
  676
  723
  768
  812
  855
  898
  940
  982
  1,024
  1,067
  1,110
  1,154
  1,199
  1,246
  1,295
  1,346
  1,399
Retained Cash Flow (-), $m
  -1,012
  -917
  -1,236
  -1,629
  -2,101
  -2,660
  -3,309
  -4,052
  -4,891
  -5,827
  -6,857
  -7,984
  -9,205
  -10,518
  -11,920
  -13,410
  -14,985
  -16,644
  -18,386
  -20,210
  -22,114
  -24,101
  -26,170
  -28,323
  -30,561
  -32,888
  -35,306
  -37,818
  -40,430
  -43,144
Prev. year cash balance distribution, $m
  322
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -588
  -786
  -1,071
  -1,426
  -1,857
  -2,371
  -2,974
  -3,669
  -4,458
  -5,344
  -6,326
  -7,404
  -8,576
  -9,841
  -11,197
  -12,642
  -14,173
  -15,789
  -17,488
  -19,270
  -21,133
  -23,077
  -25,103
  -27,213
  -29,407
  -31,689
  -34,059
  -36,523
  -39,083
  -41,745
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -563
  -719
  -932
  -1,174
  -1,439
  -1,721
  -2,009
  -2,293
  -2,561
  -2,801
  -3,004
  -3,159
  -3,261
  -3,304
  -3,287
  -3,213
  -3,084
  -2,908
  -2,693
  -2,449
  -2,186
  -1,915
  -1,645
  -1,386
  -1,144
  -925
  -731
  -565
  -427
  -314
Current shareholders' claim on cash, %
  50.0
  11.2
  2.6
  0.6
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Intercept Pharmaceuticals, Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat non-viral, progressive liver diseases. The Company's product candidates have the potential to treat orphan and more prevalent diseases for which there are limited therapeutic solutions. The Company's product candidate, obeticholic acid (OCA), is a bile acid analog, a chemical substance that has a structure based on a naturally occurring human bile acid that selectively binds to and activates the farnesoid X receptor (FXR). In addition to OCA, it is developing other bile acid analog compounds targeting FXR and a second dedicated bile acid receptor called TGR5, which is a target of interest for the treatment of type 2 diabetes and other gastrointestinal indications. The Company is also developing other products INT-767 for the treatment of fibrosis and INT-777 for the treatment of type 2 diabetes.

FINANCIAL RATIOS  of  Intercept Pharmaceuticals, Inc. (ICPT)

Valuation Ratios
P/E Ratio -4.8
Price to Sales 78.9
Price to Book 6.3
Price to Tangible Book
Price to Cash Flow -5.8
Price to Free Cash Flow -5.7
Growth Rates
Sales Growth Rate 733.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -16.7%
Cap. Spend. - 3 Yr. Gr. Rate 20.1%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 108.3%
Total Debt to Equity 108.3%
Interest Coverage 0
Management Effectiveness
Return On Assets -59.2%
Ret/ On Assets - 3 Yr. Avg. -83%
Return On Total Capital -65.7%
Ret/ On T. Cap. - 3 Yr. Avg. -100.3%
Return On Equity -90.1%
Return On Equity - 3 Yr. Avg. -108.4%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin -1636%
EBITDA Margin - 3 Yr. Avg. -7750.9%
Operating Margin -1608%
Oper. Margin - 3 Yr. Avg. -4963.8%
Pre-Tax Margin -1652%
Pre-Tax Margin - 3 Yr. Avg. -7778.4%
Net Profit Margin -1652%
Net Profit Margin - 3 Yr. Avg. -7778.4%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

ICPT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ICPT stock intrinsic value calculation we used $180 million for the last fiscal year's total revenue generated by Intercept Pharmaceuticals, Inc.. The default revenue input number comes from 0001 income statement of Intercept Pharmaceuticals, Inc.. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ICPT stock valuation model: a) initial revenue growth rate of 41.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for ICPT is calculated based on our internal credit rating of Intercept Pharmaceuticals, Inc., is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Intercept Pharmaceuticals, Inc..
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ICPT stock the variable cost ratio is equal to 356.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for ICPT stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 8.4% for Intercept Pharmaceuticals, Inc..

Corporate tax rate of 27% is the nominal tax rate for Intercept Pharmaceuticals, Inc.. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ICPT stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ICPT are equal to 7.4%.

Life of production assets of 2.9 years is the average useful life of capital assets used in Intercept Pharmaceuticals, Inc. operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ICPT is equal to -37.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $19.13 million for Intercept Pharmaceuticals, Inc. - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 29.687 million for Intercept Pharmaceuticals, Inc. is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Intercept Pharmaceuticals, Inc. at the current share price and the inputted number of shares is $2.4 billion.

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