Brokers Offer Predictions for Intra-Cellular Therapies, Inc.’s FY2024 Earnings (NASDAQ:ITCI)

Intra-Cellular Therapies, Inc. (NASDAQ:ITCIFree Report) – Investment analysts at Cantor Fitzgerald lifted their FY2024 EPS estimates for shares of Intra-Cellular Therapies in a report issued on Wednesday, May 8th. Cantor Fitzgerald analyst C. Duncan now anticipates that the biopharmaceutical company will post earnings of ($0.69) per share for the year, up from their previous estimate of ($0.82). Cantor Fitzgerald has a “Overweight” rating and a $120.00 price target on the stock. The consensus estimate for Intra-Cellular Therapies’ current full-year earnings is ($0.52) per share.

Intra-Cellular Therapies (NASDAQ:ITCIGet Free Report) last released its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.15. The business had revenue of $144.90 million for the quarter, compared to analyst estimates of $141.41 million. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. Intra-Cellular Therapies’s revenue was up 52.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.46) earnings per share.

Several other equities research analysts have also recently weighed in on the company. Robert W. Baird upped their target price on Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Intra-Cellular Therapies in a research note on Tuesday, May 7th. TD Cowen boosted their target price on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Bank of America raised their price target on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, Canaccord Genuity Group upped their price objective on shares of Intra-Cellular Therapies from $100.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Intra-Cellular Therapies currently has a consensus rating of “Moderate Buy” and an average price target of $90.17.

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Intra-Cellular Therapies Stock Down 0.9 %

Intra-Cellular Therapies stock opened at $65.71 on Monday. The company’s 50-day moving average price is $68.79 and its two-hundred day moving average price is $66.46. The stock has a market cap of $6.94 billion, a P/E ratio of -56.65 and a beta of 1.01. Intra-Cellular Therapies has a twelve month low of $45.50 and a twelve month high of $84.89.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Affinity Asset Advisors LLC purchased a new position in shares of Intra-Cellular Therapies in the 1st quarter worth about $3,460,000. EntryPoint Capital LLC lifted its holdings in Intra-Cellular Therapies by 138.7% during the first quarter. EntryPoint Capital LLC now owns 2,167 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 1,259 shares during the last quarter. Natixis boosted its position in Intra-Cellular Therapies by 165.9% during the first quarter. Natixis now owns 3,733 shares of the biopharmaceutical company’s stock worth $258,000 after purchasing an additional 2,329 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Intra-Cellular Therapies by 106.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 17,023 shares of the biopharmaceutical company’s stock worth $1,178,000 after buying an additional 8,760 shares during the period. Finally, Clearbridge Investments LLC grew its stake in Intra-Cellular Therapies by 12.3% in the 1st 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 in the last quarter. Institutional investors own 92.33% of the company’s stock.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, EVP Suresh K. Durgam sold 6,450 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $66.56, for a total transaction of $429,312.00. Following the completion of the transaction, the executive vice president now directly owns 16,170 shares in the company, valued at $1,076,275.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Michael Halstead sold 7,345 shares of Intra-Cellular Therapies stock in a transaction on Monday, March 11th. The shares were sold at an average price of $65.97, for a total value of $484,549.65. Following the completion of the sale, the executive vice president now owns 19,803 shares in the company, valued at approximately $1,306,403.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Suresh K. Durgam sold 6,450 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value of $429,312.00. Following the completion of the sale, the executive vice president now owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 168,487 shares of company stock worth $11,364,950. Insiders own 3.40% of the company’s stock.

Intra-Cellular Therapies Company Profile

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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.

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

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