Intra-Cellular Therapies (NASDAQ:ITCI) Announces Quarterly Earnings Results

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

Intra-Cellular Therapies Trading Down 2.7 %

Shares of ITCI stock traded down $1.90 during trading on Wednesday, hitting $69.31. The company’s stock had a trading volume of 159,787 shares, compared to its average volume of 924,801. The company has a market cap of $6.71 billion, a PE ratio of -47.77 and a beta of 1.01. The business has a fifty day moving average of $69.11 and a 200-day moving average of $65.85. Intra-Cellular Therapies has a 52 week low of $45.50 and a 52 week high of $84.89.

Analysts Set New Price Targets

ITCI has been the topic of several recent research reports. Canaccord Genuity Group increased their price target on Intra-Cellular Therapies from $100.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Mizuho lifted their price target on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. TD Cowen upped their price objective 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. Robert W. Baird lifted their price objective on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $120.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Intra-Cellular Therapies presently has a consensus rating of “Moderate Buy” and an average target price of $90.17.

Insider Buying and Selling

In related news, Director Joel S. Marcus sold 26,328 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the completion of the sale, the director now owns 39,662 shares in the company, valued at $2,723,986.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Joel S. Marcus sold 26,328 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the completion of the transaction, the director now owns 39,662 shares in the company, valued at approximately $2,723,986.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sharon Mates sold 22,590 shares of the business’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 completion of the sale, the chief executive officer now owns 1,050,309 shares in the company, valued at $73,301,065.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,487 shares of company stock worth $11,364,950. 3.40% of the stock is owned by company insiders.

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.