Q1 2024 Earnings Estimate for Intra-Cellular Therapies, Inc. Issued By Leerink Partnrs (NASDAQ:ITCI)

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) - Analysts at Leerink Partnrs decreased their Q1 2024 EPS estimates for shares of Intra-Cellular Therapies in a research note issued to investors on Tuesday, April 9th. Leerink Partnrs analyst M. Goodman now anticipates that the biopharmaceutical company will post earnings per share of ($0.48) for the quarter, down from their prior forecast of ($0.45). The consensus estimate for Intra-Cellular Therapies' current full-year earnings is ($0.65) per share. Leerink Partnrs also issued estimates for Intra-Cellular Therapies' Q2 2024 earnings at ($0.32) EPS, Q3 2024 earnings at ($0.01) EPS, Q4 2024 earnings at $0.11 EPS, FY2025 earnings at $1.35 EPS, FY2026 earnings at $3.00 EPS and FY2027 earnings at $5.45 EPS.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.44) by $0.14. The company had revenue of $132.10 million during the quarter, compared to analysts' expectations of $135.97 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. Intra-Cellular Therapies's revenue was up 50.3% on a year-over-year basis. During the same period last year, the company posted ($0.45) EPS.

A number of other brokerages have also commented on ITCI. Canaccord Genuity Group reduced their price target on shares of Intra-Cellular Therapies from $101.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, February 23rd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $101.00 price target on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $82.00 price target on shares of Intra-Cellular Therapies in a research note on Friday, April 5th. Mizuho lifted their price target on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, February 16th. Finally, Bank of America boosted their target price on shares of Intra-Cellular Therapies from $74.00 to $82.00 and gave the company a "buy" rating in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $81.42.

Intra-Cellular Therapies Stock Down 3.1 %

Intra-Cellular Therapies stock traded down $2.09 during trading hours on Friday, hitting $65.88. The stock had a trading volume of 586,929 shares, compared to its average volume of 755,658. The stock's 50-day moving average price is $69.03 and its 200-day moving average price is $63.32. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $76.11. The stock has a market capitalization of $6.38 billion, a P/E ratio of -45.12 and a beta of 1.02.

Insider Activity at Intra-Cellular Therapies

In related news, EVP Suresh K. Durgam sold 6,450 shares of the company's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $66.56, for a total transaction of $429,312.00. Following the sale, the executive vice president now owns 16,170 shares of the company's stock, valued at $1,076,275.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of the business's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $66.56, for a total transaction of $429,312.00. Following the transaction, the executive vice president now owns 16,170 shares in the company, valued at $1,076,275.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sharon Mates sold 20,565 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the transaction, the chief executive officer now owns 1,050,309 shares in the company, valued at approximately $68,490,649.89. The disclosure for this sale can be found here. Insiders have sold a total of 311,765 shares of company stock valued at $20,860,487 over the last 90 days. 3.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ITCI. JPMorgan Chase & Co. increased its position in Intra-Cellular Therapies by 11.7% during the first quarter. JPMorgan Chase & Co. now owns 157,144 shares of the biopharmaceutical company's stock valued at $9,615,000 after acquiring an additional 16,454 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Intra-Cellular Therapies by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 385,508 shares of the biopharmaceutical company's stock worth $23,591,000 after purchasing an additional 18,999 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Intra-Cellular Therapies in the first quarter worth about $349,000. PNC Financial Services Group Inc. grew its holdings in shares of Intra-Cellular Therapies by 25.6% in the first quarter. PNC Financial Services Group Inc. now owns 5,909 shares of the biopharmaceutical company's stock worth $363,000 after purchasing an additional 1,204 shares during the last quarter. Finally, Natixis Advisors L.P. grew its holdings in shares of Intra-Cellular Therapies by 71.3% in the first quarter. Natixis Advisors L.P. now owns 18,165 shares of the biopharmaceutical company's stock worth $1,112,000 after purchasing an additional 7,558 shares during the last quarter. Institutional investors own 92.33% 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.