Intra-Cellular Therapies (NASDAQ:ITCI) Releases Earnings Results, Beats Estimates By $0.15 EPS

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) issued its earnings results on Tuesday. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.15, Briefing.com reports. The firm had revenue of $144.90 million during the quarter, compared to the consensus estimate of $141.41 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The business's quarterly revenue was up 52.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.46) earnings per share.

Intra-Cellular Therapies Stock Down 5.9 %

Shares of ITCI stock traded down $4.21 during trading on Wednesday, reaching $67.00. 994,208 shares of the company's stock were exchanged, compared to its average volume of 934,258. The firm's fifty day moving average price is $69.03 and its 200-day moving average price is $65.86. The stock has a market capitalization of $6.49 billion, a PE ratio of -45.89 and a beta of 1.01. Intra-Cellular Therapies has a twelve month low of $45.50 and a twelve month high of $84.89.

Analysts Set New Price Targets

Several brokerages recently commented on ITCI. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price objective on shares of Intra-Cellular Therapies in a research note on Tuesday. Royal Bank of Canada reiterated an "outperform" rating and issued a $86.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. TD Cowen raised their target price on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, April 17th. Canaccord Genuity Group upped their price target on shares of Intra-Cellular Therapies from $100.00 to $107.00 and gave the company a "buy" rating in a report on Tuesday, April 23rd. Finally, Mizuho boosted their target price on Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a "buy" rating in a research note on Monday, April 22nd. 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, the company has a consensus rating of "Moderate Buy" and an average target price of $90.17.

Insider Activity at Intra-Cellular Therapies

In related news, CFO Lawrence J. Hineline sold 13,337 shares of the firm's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.43, for a total transaction of $925,987.91. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 22,590 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,050,309 shares of the company's stock, valued at approximately $73,301,065.11. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Lawrence J. Hineline sold 13,337 shares of the business's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $69.43, for a total transaction of $925,987.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,487 shares of company stock worth $11,364,950. Insiders own 3.40% of the company's stock.

About Intra-Cellular Therapies

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.