Equities Analysts Issue Forecasts for Intra-Cellular Therapies, Inc.’s Q1 2024 Earnings (NASDAQ:ITCI)

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) – Equities research analysts at Leerink Partnrs lowered their Q1 2024 earnings per share (EPS) estimates for shares of Intra-Cellular Therapies in a report released on Tuesday, April 9th. Leerink Partnrs analyst M. Goodman now expects that the biopharmaceutical company will post earnings of ($0.48) per share for the quarter, down from their prior forecast 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.

A number of other brokerages have also recently issued reports on ITCI. Needham & Company LLC restated a “buy” rating and issued a $82.00 price objective on shares of Intra-Cellular Therapies in a research note on Friday, April 5th. Royal Bank of Canada restated an “outperform” rating and issued a $86.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Canaccord Genuity Group lowered their price objective on Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. The Goldman Sachs Group boosted their price objective on Intra-Cellular Therapies from $58.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Finally, Robert W. Baird assumed coverage on Intra-Cellular Therapies in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $83.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Intra-Cellular Therapies has a consensus rating of “Moderate Buy” and a consensus price target of $81.42.

Intra-Cellular Therapies Stock Performance

Shares of Intra-Cellular Therapies stock opened at $65.88 on Friday. Intra-Cellular Therapies has a 52-week low of $45.50 and a 52-week high of $76.11. The stock’s 50-day simple moving average is $69.03 and its 200 day simple moving average is $63.39. The stock has a market capitalization of $6.38 billion, a P/E ratio of -45.12 and a beta of 1.02.

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

Institutional Trading of Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently bought and sold shares of ITCI. JPMorgan Chase & Co. boosted its stake in Intra-Cellular Therapies by 11.7% in the first 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 boosted its stake in Intra-Cellular Therapies by 5.2% in the first 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. purchased a new stake in Intra-Cellular Therapies in the first quarter worth approximately $349,000. PNC Financial Services Group Inc. boosted its stake in Intra-Cellular Therapies by 25.6% in the first 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. lifted its position in Intra-Cellular Therapies by 71.3% in the first quarter. Natixis Advisors L.P. now owns 18,165 shares of the biopharmaceutical company’s stock valued at $1,112,000 after purchasing an additional 7,558 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 75,361 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $67.25, for a total transaction of $5,068,027.25. Following the completion of the transaction, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $70,633,280.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sharon Mates sold 75,361 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $67.25, for a total transaction of $5,068,027.25. Following the completion of the transaction, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $70,633,280.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Halstead sold 7,907 shares of the company’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 approximately $2,065,041. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 311,765 shares of company stock valued at $20,860,487. 3.40% of the stock is owned by corporate insiders.

About Intra-Cellular Therapies

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.