Zacks: Analysts Expect Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Will Post Quarterly Sales of $48.54 Million

Brokerages expect Intra-Cellular Therapies, Inc. (NASDAQ:ITCI – Get Rating) to announce $48.54 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Intra-Cellular Therapies’ earnings, with the lowest sales estimate coming in at $45.10 million and the highest estimate coming in at $51.80 million. Intra-Cellular Therapies reported sales of $20.05 million in the same quarter last year, which indicates a positive year over year growth rate of 142.1%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Intra-Cellular Therapies will report full-year sales of $220.84 million for the current fiscal year, with estimates ranging from $207.70 million to $241.86 million. For the next financial year, analysts anticipate that the company will post sales of $410.58 million, with estimates ranging from $402.00 million to $430.41 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Intra-Cellular Therapies.

Intra-Cellular Therapies (NASDAQ:ITCI – Get Rating) last issued its earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.14. The business had revenue of $35.00 million during the quarter, compared to analyst estimates of $33.52 million. Intra-Cellular Therapies had a negative return on equity of 53.93% and a negative net margin of 294.89%. Intra-Cellular Therapies’s revenue was up 120.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.65) EPS.

Several research analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Intra-Cellular Therapies in a research report on Wednesday, February 16th. They issued a “buy” rating and a $64.00 price target for the company. StockNews.com began coverage on Intra-Cellular Therapies in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Piper Sandler began coverage on Intra-Cellular Therapies in a research report on Friday, April 22nd. They set a “neutral” rating and a $59.00 target price on the stock. SVB Leerink upped their target price on Intra-Cellular Therapies from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, April 21st. Finally, Needham & Company LLC upped their target price on Intra-Cellular Therapies from $59.00 to $65.00 and gave the company 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 assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $60.43.

ITCI opened at $56.67 on Thursday. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of -15.61 and a beta of 1.28. Intra-Cellular Therapies has a 12 month low of $28.40 and a 12 month high of $66.00. The stock has a fifty day moving average price of $57.93 and a 200-day moving average price of $50.80.

In other Intra-Cellular Therapies news, insider Suresh K. Durgam sold 3,860 shares of the business’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $55.52, for a total transaction of $214,307.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joel S. Marcus sold 5,000 shares of the company’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $54.52, for a total value of $272,600.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 194,556 shares of company stock worth $11,920,635. Company insiders own 13.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ITCI. Exchange Traded Concepts LLC purchased a new stake in shares of Intra-Cellular Therapies in the first quarter worth about $33,000. FourThought Financial LLC purchased a new stake in shares of Intra-Cellular Therapies in the first quarter worth about $54,000. GPS Wealth Strategies Group LLC purchased a new stake in shares of Intra-Cellular Therapies in the first quarter worth about $61,000. Prospera Financial Services Inc purchased a new stake in shares of Intra-Cellular Therapies in the first quarter worth about $71,000. Finally, Advisor Group Holdings Inc. raised its holdings in Intra-Cellular Therapies by 63.3% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,568 shares of the biopharmaceutical company’s stock worth $82,000 after purchasing an additional 608 shares during the period. Hedge funds and other institutional investors own 73.40% of the company’s stock.

About Intra-Cellular Therapies (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.

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