Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) to Post Q2 2024 Earnings of ($0.19) Per Share, Leerink Partnrs Forecasts

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) - Equities research analysts at Leerink Partnrs lifted their Q2 2024 earnings estimates for shares of Intra-Cellular Therapies in a research report issued to clients and investors on Tuesday, May 7th. Leerink Partnrs analyst M. Goodman now anticipates that the biopharmaceutical company will post earnings per share of ($0.19) for the quarter, up from their prior forecast of ($0.32). The consensus estimate for Intra-Cellular Therapies' current full-year earnings is ($0.59) per share. Leerink Partnrs also issued estimates for Intra-Cellular Therapies' Q3 2024 earnings at ($0.03) EPS, Q4 2024 earnings at ($0.08) EPS and FY2024 earnings at ($0.30) EPS.

A number of other equities research analysts have also issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price objective on shares of Intra-Cellular Therapies in a report on Tuesday. Royal Bank of Canada reissued an "outperform" rating and issued a $86.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $120.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, April 24th. TD Cowen lifted their price objective on shares of 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, The Goldman Sachs Group lifted their price objective on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $90.17.

Intra-Cellular Therapies Stock Performance

ITCI traded down $0.60 during trading on Friday, reaching $64.96. 723,764 shares of the company traded hands, compared to its average volume of 930,368. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89. The firm has a fifty day simple moving average of $68.95 and a 200 day simple moving average of $65.86. The company has a market cap of $6.29 billion, a P/E ratio of -44.49 and a beta of 1.01.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.31) by $0.15. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The business had revenue of $144.90 million during the quarter, compared to analyst estimates of $141.41 million. During the same period last year, the firm posted ($0.46) EPS. The company's revenue was up 52.0% on a year-over-year basis.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Xponance Inc. raised its stake in shares of Intra-Cellular Therapies by 3.0% during the 4th quarter. Xponance Inc. now owns 5,676 shares of the biopharmaceutical company's stock worth $407,000 after buying an additional 163 shares during the period. Regal Investment Advisors LLC raised its stake in Intra-Cellular Therapies by 1.4% in the 3rd quarter. Regal Investment Advisors LLC now owns 13,610 shares of the biopharmaceutical company's stock valued at $709,000 after purchasing an additional 186 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Intra-Cellular Therapies by 0.8% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 26,796 shares of the biopharmaceutical company's stock valued at $1,396,000 after buying an additional 200 shares in the last quarter. Bailard Inc. grew its holdings in Intra-Cellular Therapies by 1.2% in the 4th quarter. Bailard Inc. now owns 17,080 shares of the biopharmaceutical company's stock valued at $1,223,000 after buying an additional 200 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Intra-Cellular Therapies by 16.3% in the 4th quarter. Parallel Advisors LLC now owns 1,564 shares of the biopharmaceutical company's stock valued at $112,000 after buying an additional 219 shares in the last quarter. 92.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intra-Cellular Therapies

In related news, EVP Michael Halstead sold 7,907 shares of the company's 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 sale, the executive vice president now owns 29,700 shares in the company, valued at $2,065,041. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Michael Halstead sold 7,907 shares of the company's 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 sale, the executive vice president now owns 29,700 shares in the company, valued at $2,065,041. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sharon Mates sold 22,590 shares of the business's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $69.79, for a total value of $1,576,556.10. Following the completion of the transaction, the chief executive officer now directly owns 1,050,309 shares of the company's stock, valued at $73,301,065.11. The disclosure for this sale can be found here. Insiders have sold a total of 168,487 shares of company stock worth $11,364,950 over the last quarter. Insiders own 3.40% 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.