Intra-Cellular Therapies (NASDAQ:ITCI) Issues Earnings Results, Beats Estimates By $0.15 EPS

Intra-Cellular Therapies (NASDAQ:ITCI) released its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.15, Briefing.com reports. The firm had revenue of $144.90 million for the quarter, compared to analyst estimates of $141.41 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The company’s revenue for the quarter was up 52.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.46) EPS.

Intra-Cellular Therapies Trading Up 0.8 %

Shares of ITCI traded up $0.52 during midday trading on Friday, reaching $66.08. The stock had a trading volume of 23,091 shares, compared to its average volume of 922,495. The firm has a 50 day simple moving average of $68.95 and a 200-day simple moving average of $65.86. The firm has a market cap of $6.40 billion, a PE ratio of -44.90 and a beta of 1.01. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $86.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $120.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, April 24th. Robert W. Baird increased their price objective on Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Finally, TD Cowen lifted their target price on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $90.17.

Insider Activity at Intra-Cellular Therapies

In other news, EVP Michael Halstead sold 7,907 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $69.53, for a total value of $549,773.71. Following the completion of the sale, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,065,041. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Michael Halstead sold 7,907 shares of Intra-Cellular Therapies stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.53, for a total transaction of $549,773.71. Following the completion of the sale, the executive vice president now owns 29,700 shares of the company’s stock, valued at approximately $2,065,041. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sharon Mates sold 22,590 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the sale, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $73,301,065.11. The disclosure for this sale can be found here. In the last ninety days, insiders 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

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.