Brokers Issue Forecasts for Intra-Cellular Therapies, Inc.’s FY2022 Earnings (NASDAQ:ITCI)

Intra-Cellular Therapies, Inc. (NASDAQ:ITCIGet Rating) – Investment analysts at Cantor Fitzgerald raised their FY2022 earnings estimates for Intra-Cellular Therapies in a research report issued on Wednesday, May 11th. Cantor Fitzgerald analyst C. Duncan now expects that the biopharmaceutical company will earn ($2.78) per share for the year, up from their prior forecast of ($2.92).

ITCI has been the subject of several other research reports. Zacks Investment Research raised shares of Intra-Cellular Therapies from a “sell” rating to a “hold” rating in a research note on Thursday, January 13th. StockNews.com began coverage on shares of Intra-Cellular Therapies in a research report on Thursday, March 31st. They set a “sell” rating on the stock. The Goldman Sachs Group began coverage on shares of Intra-Cellular Therapies in a research report on Wednesday, February 16th. They set a “buy” rating and a $64.00 price target on the stock. Piper Sandler began coverage on shares of Intra-Cellular Therapies in a research report on Friday, April 22nd. They set a “neutral” rating and a $59.00 price target on the stock. Finally, Needham & Company LLC increased their price target on shares of Intra-Cellular Therapies from $59.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, February 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Intra-Cellular Therapies currently has an average rating of “Buy” and a consensus target price of $60.43.

Shares of ITCI stock opened at $56.88 on Friday. The firm has a market cap of $5.36 billion, a PE ratio of -15.21 and a beta of 1.28. The company has a 50-day moving average of $57.76 and a two-hundred day moving average of $49.97. Intra-Cellular Therapies has a 1-year low of $28.40 and a 1-year high of $66.00.

Intra-Cellular Therapies (NASDAQ:ITCIGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.14. Intra-Cellular Therapies had a negative net margin of 294.89% and a negative return on equity of 62.44%. The firm had revenue of $35.00 million during the quarter, compared to analyst estimates of $33.52 million. During the same quarter in the prior year, the firm posted ($0.65) earnings per share. Intra-Cellular Therapies’s quarterly revenue was up 120.1% on a year-over-year basis.

Hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC purchased a new position in shares of Intra-Cellular Therapies during the first quarter worth approximately $33,000. FourThought Financial LLC purchased a new position in shares of Intra-Cellular Therapies during the first quarter worth approximately $54,000. GPS Wealth Strategies Group LLC purchased a new position in shares of Intra-Cellular Therapies during the first quarter worth approximately $61,000. Prospera Financial Services Inc purchased a new position in shares of Intra-Cellular Therapies during the first quarter worth approximately $71,000. Finally, Advisor Group Holdings Inc. grew its position in shares of Intra-Cellular Therapies by 63.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 1,568 shares of the biopharmaceutical company’s stock worth $82,000 after acquiring an additional 608 shares during the last quarter. 73.40% of the stock is currently owned by institutional investors.

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 27,847 shares of the firm’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $55.39, for a total transaction of $1,542,445.33. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Suresh K. Durgam sold 4,177 shares of the firm’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $55.29, for a total transaction of $230,946.33. The disclosure for this sale can be found here. In the last ninety days, insiders sold 280,157 shares of company stock worth $16,524,262. 13.20% of the stock is owned by corporate insiders.

Intra-Cellular Therapies Company Profile (Get Rating)

Intra-Cellular Therapies, Inc, a biopharmaceutical company, develops novel drugs for the treatment of neuropsychiatric and neurologic diseases by targeting intracellular signaling mechanisms within the central nervous system in the United States. The company offers CAPLYTA for the treatment of schizophrenia in adults.

Further Reading

Earnings History and Estimates for Intra-Cellular Therapies (NASDAQ:ITCI)

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