Intra-Cellular Therapies (NASDAQ:ITCI) Releases Earnings Results

Intra-Cellular Therapies (NASDAQ:ITCI) released its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07), Briefing.com reports. The firm had revenue of $175.40 million for the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The firm’s revenue was up 39.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.25) EPS.

Intra-Cellular Therapies Stock Up 0.6 %

ITCI traded up $0.52 during trading on Thursday, reaching $85.99. 424,849 shares of the company’s stock were exchanged, compared to its average volume of 868,250. Intra-Cellular Therapies has a fifty-two week low of $46.10 and a fifty-two week high of $88.00. The business has a 50 day moving average price of $74.73 and a 200 day moving average price of $73.04. The company has a market capitalization of $9.08 billion, a P/E ratio of -73.68 and a beta of 1.00.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Morgan Stanley upped their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Royal Bank of Canada upped their price target on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. UBS Group decreased their target price on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.62.

Insiders Place Their Bets

In other news, CEO Sharon Mates sold 53,013 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total value of $4,010,433.45. Following the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $80,970,388.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the sale, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,229,876. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sharon Mates sold 53,013 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $80,970,388.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,316 shares of company stock worth $13,037,345 over the last 90 days. Corporate insiders own 3.40% 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.