FY2024 EPS Estimates for Intra-Cellular Therapies, Inc. Lifted by Cantor Fitzgerald (NASDAQ:ITCI)

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) - Stock analysts at Cantor Fitzgerald boosted their FY2024 earnings estimates for Intra-Cellular Therapies in a research note issued on Wednesday, April 24th. Cantor Fitzgerald analyst C. Duncan now expects that the biopharmaceutical company will post earnings per share of ($0.82) for the year, up from their previous estimate of ($0.86). Cantor Fitzgerald currently has a "Overweight" rating and a $120.00 target price on the stock. The consensus estimate for Intra-Cellular Therapies' current full-year earnings is ($0.62) per share.

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

A number of other equities research analysts also recently issued reports on ITCI. Royal Bank of Canada restated an "outperform" rating and set a $86.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Robert W. Baird boosted their price objective on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an "outperform" rating in a research note on Wednesday, April 17th. The Goldman Sachs Group boosted their price objective on Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a "neutral" rating in a research note on Wednesday, April 17th. TD Cowen upped their price target on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, April 17th. Finally, Mizuho upped their price target on Intra-Cellular Therapies from $82.00 to $96.00 and gave the stock a "buy" rating in a research note on Monday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.17.

Intra-Cellular Therapies Stock Up 1.6 %

Shares of Intra-Cellular Therapies stock traded up $1.13 during trading hours on Friday, reaching $73.26. 594,740 shares of the stock traded hands, compared to its average volume of 938,802. The company has a 50 day moving average price of $69.38 and a 200 day moving average price of $64.63. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of -50.18 and a beta of 1.02. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89.

Insider Activity at Intra-Cellular Therapies

In other news, EVP Suresh K. Durgam sold 6,450 shares of the firm's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $66.56, for a total value of $429,312.00. Following the completion of the transaction, the executive vice president now directly owns 16,170 shares in the company, valued at $1,076,275.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total value of $429,312.00. Following the sale, the executive vice president now directly owns 16,170 shares of the company's stock, valued at $1,076,275.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Halstead sold 7,907 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $69.53, for a total value of $549,773.71. Following the completion of the sale, the executive vice president now directly owns 29,700 shares in the company, valued at $2,065,041. The disclosure for this sale can be found here. Insiders have sold a total of 168,487 shares of company stock valued at $11,364,950 over the last quarter. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITCI. Vanguard Group Inc. grew its stake in Intra-Cellular Therapies by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company's stock worth $651,334,000 after purchasing an additional 554,577 shares in the last quarter. Wasatch Advisors LP raised its stake in Intra-Cellular Therapies by 6.3% during the 1st quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company's stock valued at $266,748,000 after acquiring an additional 227,439 shares during the last quarter. Avoro Capital Advisors LLC purchased a new stake in Intra-Cellular Therapies during the 4th quarter valued at approximately $161,543,000. JPMorgan Chase & Co. raised its stake in Intra-Cellular Therapies by 4.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,063,802 shares of the biopharmaceutical company's stock valued at $107,503,000 after acquiring an additional 86,388 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Intra-Cellular Therapies by 6.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,815,954 shares of the biopharmaceutical company's stock valued at $94,593,000 after acquiring an additional 114,370 shares during the last quarter. Hedge funds and other 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.