Intercept Pharmaceuticals Inc (ICPT) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $-3.14 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.53. Analysts had a consensus of $-3.67. The company posted revenue of $5.52 million in the period, compared to analysts expectations of $.87 million. The company’s revenue was up 1140.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.99 EPS.
Many Wall Street Analysts have commented on Intercept Pharmaceuticals Inc. Cantor Fitzgerald Initiated Intercept Pharmaceuticals Inc on Jul 6, 2016 to “Sell”, Price Target of the shares are set at $58.Shares were Reiterated by Wedbush on Jun 1, 2016 to “Outperform” and Lowered the Price Target to $ 239 from a previous price target of $423 .
Intercept Pharmaceuticals Inc opened for trading at $170.71 and hit $172.36 on the upside on Tusday, eventually ending the session at $170.47, with a gain of 0.44% or 0.75 points. The heightened volatility saw the trading volume jump to 4,92,342 shares. Company has a market cap of $4,193 M.
In a different news, on Aug 2, 2016, Rachel Mcminn (Chief Strategy Officer) sold 125 shares at $176.57 per share price. According to the SEC, on Jul 7, 2016, Barbara Gayle Duncan (Chief Accounting Officer) sold 146 shares at $145.11 per share price. On Jul 7, 2016, David Shapiro (CMO and EVP – Development) sold 163 shares at $145.11 per share price, according to the Form-4 filing with the securities and exchange commission.
Intercept Pharmaceuticals Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat chronic liver diseases utilizing its bile acid chemistry. The Companys 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). The Company is also developing other products INT-767 and INT-777 for the treatment of fibrosis and type 2 diabetes. OCA has been tested in five placebo-controlled clinical trials including a completed Phase III clinical trial in patients with primary biliary cirrhosis (PBC) and two Phase II clinical trials in patients with nonalcoholic fatty liver disease (NAFLD) and nonalcoholic steatohepatitis (NASH). OCA met the primary efficacy endpoint in each of these trials with statistical significance.