Intercept Pharmaceuticals Inc. (NASDAQ:ICPT) is a clinical stage biopharmaceutical company focused on the developing and marketing novel therapeutics to treat chronic underserved liver diseases. Intercept reported third quarter financial results and provided other general business updates yesterday, stock price increased total 19% to $212 from Monday to Tuesday.
The company reported $-2.10 earnings per share for third quarter, beating the analyst expectation by $0.63. Analyst had an estimate of $-2.73 earnings per share. The company had revenue of $.45 million for third quarter, and analysts’ expectations is $.42 million. During the same quarter in 2014, Intercept posted $-1.69 earnings per share.
According to the general business updated reported by Intercept, company’s key program NASH have a good development, and start move to Phase 3 REGENERATE trial. Intercept’s announced that is the first Phase 3 registrational trial in non-cirrhotic NASH patients with advanced fibrosis. The company will hold meeting in November 16 to introduce more details about NASH program.
Intercept also announced that their Phase 2 biliary atresia trial practiced in October. Biliary atresia is a very unusual but devastating pediatric cholestatic liver disease for which there are no useful treatments. In addition to studying the impact of OCA treatment in biliary atresia, the trial is a part of the approved pediatric investigational plan in support of the MAA for OCA in PBC in the European Union.
This milestone represents our promise to develop new medicines to patients with chronic underserved liver diseases. Our primary sclerosing cholangitis, or PSC, Phase 2 trial, the AESOP trial, continues to recruit patients, and we have doubled participating sites to increase the speed of enrollment.
Research firm Zacks has rated Intercept at 2, indicating that buy for short term. 9 Wall Street analysts have rated Intercept at average of 2.14. The shares also received hold rating from 2 analysts’ suggestion. 1 brokerage houses strongly recommend to sell Intercept stocks. 5 Wall Street Analysts strongly recommend to but Intercept stocks.