Leerink Partnrs Issues Pessimistic Outlook for ITCI Earnings

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) - Research analysts at Leerink Partnrs lowered their Q3 2024 earnings per share (EPS) estimates for Intra-Cellular Therapies in a note issued to investors on Tuesday, October 15th. Leerink Partnrs analyst M. Goodman now expects that the biopharmaceutical company will post earnings per share of ($0.09) for the quarter, down from their prior forecast of ($0.07). The consensus estimate for Intra-Cellular Therapies' current full-year earnings is ($0.59) per share. Leerink Partnrs also issued estimates for Intra-Cellular Therapies' Q4 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.50) EPS, FY2026 earnings at $3.30 EPS, FY2027 earnings at $5.65 EPS and FY2028 earnings at $7.25 EPS.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.19) by $0.03. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The company had revenue of $161.40 million during the quarter, compared to the consensus estimate of $157.74 million. During the same period last year, the company earned ($0.45) earnings per share. The firm's revenue was up 45.7% compared to the same quarter last year.

A number of other equities research analysts also recently weighed in on ITCI. JPMorgan Chase & Co. lifted their target price on Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Needham & Company LLC reiterated a "buy" rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, August 7th. Royal Bank of Canada lifted their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. UBS Group lowered their target price on Intra-Cellular Therapies from $83.00 to $79.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley lifted their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Intra-Cellular Therapies has a consensus rating of "Moderate Buy" and an average target price of $96.62.

Intra-Cellular Therapies Trading Down 0.4 %

ITCI stock traded down $0.34 during mid-day trading on Friday, reaching $78.34. The company's stock had a trading volume of 505,831 shares, compared to its average volume of 877,054. The company has a market cap of $8.27 billion, a price-to-earnings ratio of -67.77 and a beta of 1.00. The business's 50 day moving average price is $74.33 and its 200 day moving average price is $72.38. Intra-Cellular Therapies has a 12 month low of $45.50 and a 12 month high of $84.89.

Insider Activity at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 34,396 shares of Intra-Cellular Therapies stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the transaction, the chief executive officer now owns 1,070,329 shares of the company's stock, valued at $77,962,764.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the business's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares of the company's stock, valued at approximately $2,229,876. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sharon Mates sold 34,396 shares of the business's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the completion of the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $77,962,764.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 175,316 shares of company stock valued at $13,037,345 over the last 90 days. Insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Oak Ridge Investments LLC purchased a new position in Intra-Cellular Therapies in the second quarter worth $811,000. SG Americas Securities LLC raised its stake in shares of Intra-Cellular Therapies by 962.7% in the second quarter. SG Americas Securities LLC now owns 48,778 shares of the biopharmaceutical company's stock valued at $3,341,000 after buying an additional 44,188 shares during the period. Clearbridge Investments LLC raised its stake in shares of Intra-Cellular Therapies by 12.3% in the first quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company's stock valued at $120,723,000 after buying an additional 191,416 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Intra-Cellular Therapies in the first quarter valued at $18,379,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Intra-Cellular Therapies by 232.0% in the first quarter. Russell Investments Group Ltd. now owns 50,845 shares of the biopharmaceutical company's stock valued at $3,519,000 after buying an additional 35,528 shares during the period. Hedge funds and other institutional investors own 92.33% of the company's stock.

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.