Intercept Pharmaceuticals Inc (NASDAQ: ICPT)
As expected, Intercept Pharmaceuticals has released their earnings report for the first quarter. Unfortunately, the report showed wider than expected losses and a big miss on revenue. However, ICPT is growing in the market today. Below, we’ll discuss what we saw from the earnings report, what we’re seeing in the market, and what I’m expecting to see moving forward.
Intercept Pharmaceuticals Produces A Q1 Earnings Miss
- Earnings Per Share – While analysts were expecting to see negative EPS, the losses reported were wider than expected. In the quarter, ICPT generated a loss of $1.78 per share while analyst estimates averaged at a loss of $1.69 per share.
- Revenue – The company also reported a big miss with regard to revenue. While analysts expected to see revenue come in at $1.7 million, the company was only able to generate $405 thousand!
As you can see, the report was far less than desirable.
How ICPT Reacted In The Market
Any time I see an earnings miss coupled with a wide miss on revenue, I expect to see the value of the stock to fall as a result. However, that’s not what we’ve seen today. As a matter of fact, it’s all been gains on high volume in the market today. Currently (1:01), ICPT is trading at $284 per share after a gain of 2.71%.
What We Can Expect To See Moving Forward
In most cases, I like to try and find the good news, even through bad earnings. However, in this particular case, that proved to be harder than I expected. Although I did a bit of searching, I wasn’t able to find any positive news about the stock. I was able to find reports about a big insider sale and several reports of missed earnings, but for some reason, positive data is hard to come across. With that said, I don’t have positive expectations for ICPT moving forward. With revenues coming in so incredibly low for the quarter, earnings per share missing expectations, and no positive news to be found, I just don’t have faith that this one is set for growth. However, I would love to hear some positive news. So, if you know of any, please let me know in the comments below!
What Do You Think?
Where do you think ICPT is headed and why? Let us know in the comments below!