Leerink Partnrs Issues Optimistic Estimate for ITCI Earnings

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) – Stock analysts at Leerink Partnrs increased their FY2024 earnings per share estimates for Intra-Cellular Therapies in a research note issued on Wednesday, October 30th. Leerink Partnrs analyst M. Goodman now expects that the biopharmaceutical company will post earnings of ($0.35) per share for the year, up from their prior estimate of ($0.50). The consensus estimate for Intra-Cellular Therapies’ current full-year earnings is ($0.61) per share. Leerink Partnrs also issued estimates for Intra-Cellular Therapies’ Q4 2024 earnings at $0.22 EPS and FY2026 earnings at $2.85 EPS.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday. Royal Bank of Canada lifted their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. UBS Group cut their price target on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Morgan Stanley lifted their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, The Goldman Sachs Group dropped their price objective on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.23.

Intra-Cellular Therapies Trading Up 3.6 %

NASDAQ:ITCI opened at $89.24 on Monday. The firm has a fifty day simple moving average of $75.72 and a 200-day simple moving average of $73.42. Intra-Cellular Therapies has a 12 month low of $52.88 and a 12 month high of $89.44. The company has a market capitalization of $9.46 billion, a P/E ratio of -102.57 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The company had revenue of $175.40 million for the quarter, compared to analysts’ expectations of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The firm’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.25) EPS.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several institutional investors have recently bought and sold shares of ITCI. Headlands Technologies LLC purchased a new position in shares of Intra-Cellular Therapies in the first quarter valued at approximately $32,000. Fidelis Capital Partners LLC purchased a new position in Intra-Cellular Therapies in the 1st quarter valued at $53,000. Summit Securities Group LLC acquired a new stake in Intra-Cellular Therapies during the 2nd quarter worth $56,000. Capital Performance Advisors LLP purchased a new stake in shares of Intra-Cellular Therapies during the third quarter worth $74,000. Finally, CWM LLC raised its position in shares of Intra-Cellular Therapies by 83.9% in the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 626 shares during the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Mark Neumann sold 18,714 shares of Intra-Cellular Therapies stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the sale, the executive vice president now owns 29,700 shares in the company, valued at $2,229,876. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sharon Mates sold 34,396 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,316 shares of company stock worth $13,037,345 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Intra-Cellular Therapies Company Profile

Intra-Cellular Therapies, Inc, a biopharmaceutical company, focuses on the discovery, clinical development, and commercialization of small molecule drugs that address medical needs primarily in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms in the central nervous system (CNS) in the United States.