Q1 2024 EPS Estimates for Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Lowered by Analyst

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) – Stock analysts at Leerink Partnrs decreased their Q1 2024 earnings estimates for shares of Intra-Cellular Therapies in a research report issued to clients and investors on Tuesday, April 9th. Leerink Partnrs analyst M. Goodman now expects that the biopharmaceutical company will post earnings per share of ($0.48) for the quarter, down from their prior estimate of ($0.45). The consensus estimate for Intra-Cellular Therapies’ current full-year earnings is ($0.65) per share. Leerink Partnrs also issued estimates for Intra-Cellular Therapies’ Q2 2024 earnings at ($0.32) EPS, Q3 2024 earnings at ($0.01) EPS, Q4 2024 earnings at $0.11 EPS, FY2025 earnings at $1.35 EPS, FY2026 earnings at $3.00 EPS and FY2027 earnings at $5.45 EPS.

ITCI has been the subject of several other reports. Bank of America raised their price objective on shares of Intra-Cellular Therapies from $74.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $101.00 price objective on shares of Intra-Cellular Therapies in a report on Friday, February 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Canaccord Genuity Group decreased their price objective on shares of Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Finally, The Goldman Sachs Group raised their price target on shares of Intra-Cellular Therapies from $58.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.42.

Intra-Cellular Therapies Price Performance

Shares of ITCI stock opened at $65.88 on Friday. The firm has a market cap of $6.38 billion, a P/E ratio of -45.12 and a beta of 1.02. Intra-Cellular Therapies has a 1-year low of $45.50 and a 1-year high of $76.11. The firm has a fifty day moving average of $69.03 and a two-hundred day moving average of $63.32.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. The business had revenue of $132.10 million during the quarter, compared to analyst estimates of $135.97 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The business’s revenue was up 50.3% on a year-over-year basis. During the same period last year, the business earned ($0.45) EPS.

Institutional Trading of Intra-Cellular Therapies

Several hedge funds have recently bought and sold shares of ITCI. JPMorgan Chase & Co. raised its position in shares of Intra-Cellular Therapies by 11.7% during the 1st quarter. JPMorgan Chase & Co. now owns 157,144 shares of the biopharmaceutical company’s stock worth $9,615,000 after buying an additional 16,454 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Intra-Cellular Therapies by 5.2% during the 1st quarter. Bank of New York Mellon Corp now owns 385,508 shares of the biopharmaceutical company’s stock worth $23,591,000 after buying an additional 18,999 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Intra-Cellular Therapies during the 1st quarter worth about $349,000. PNC Financial Services Group Inc. raised its position in shares of Intra-Cellular Therapies by 25.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,909 shares of the biopharmaceutical company’s stock worth $363,000 after buying an additional 1,204 shares in the last quarter. Finally, Natixis Advisors L.P. raised its position in shares of Intra-Cellular Therapies by 71.3% during the 1st quarter. Natixis Advisors L.P. now owns 18,165 shares of the biopharmaceutical company’s stock worth $1,112,000 after buying an additional 7,558 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors.

Insider Transactions at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 20,565 shares of Intra-Cellular Therapies stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.21, for a total value of $1,341,043.65. Following the sale, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $68,490,649.89. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Sharon Mates sold 20,565 shares of Intra-Cellular Therapies stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.21, for a total value of $1,341,043.65. Following the sale, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $68,490,649.89. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Suresh K. Durgam sold 6,450 shares of Intra-Cellular Therapies stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $66.56, for a total transaction of $429,312.00. Following the completion of the sale, the executive vice president now owns 16,170 shares in the company, valued at $1,076,275.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 311,765 shares of company stock worth $20,860,487. 3.40% of the stock is currently owned by insiders.

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.