Leerink Partnrs Has Negative Outlook of ITCI Q3 Earnings

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) – Stock analysts at Leerink Partnrs dropped their Q3 2024 earnings estimates for shares of Intra-Cellular Therapies in a research note issued on Tuesday, October 15th. Leerink Partnrs analyst M. Goodman now expects that the biopharmaceutical company will post earnings of ($0.09) per share 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) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $157.74 million. During the same period in the previous year, the company posted ($0.45) EPS. The firm’s revenue for the quarter was up 45.7% compared to the same quarter last year.

ITCI has been the topic of several other reports. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, August 7th. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Royal Bank of Canada upped their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Morgan Stanley lifted their price target on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, UBS Group cut their price objective 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. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.62.

Intra-Cellular Therapies Stock Down 0.4 %

Shares of ITCI opened at $78.34 on Friday. Intra-Cellular Therapies has a twelve month low of $45.50 and a twelve month high of $84.89. The stock has a market cap of $8.27 billion, a PE ratio of -67.53 and a beta of 1.00. The business’s 50-day moving average price is $74.43 and its 200-day moving average price is $72.49.

Institutional Trading of Intra-Cellular Therapies

Several large investors have recently modified their holdings of the business. Kapitalo Investimentos Ltda bought a new stake in shares of Intra-Cellular Therapies in the 4th quarter worth approximately $26,000. Headlands Technologies LLC purchased a new position in Intra-Cellular Therapies during the 1st quarter valued at $32,000. Fidelis Capital Partners LLC bought a new position in Intra-Cellular Therapies in the 1st quarter worth $53,000. Summit Securities Group LLC purchased a new stake in shares of Intra-Cellular Therapies in the 2nd quarter worth about $56,000. Finally, CWM LLC boosted its stake in shares of Intra-Cellular Therapies by 83.9% during the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 626 shares in the last quarter. 92.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 53,013 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total value of $4,010,433.45. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $80,970,388.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the firm’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 of the company’s stock, valued at $2,229,876. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sharon Mates sold 53,013 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were 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 directly owns 1,070,329 shares of the company’s stock, valued at approximately $80,970,388.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 175,316 shares of company stock worth $13,037,345 over the last three months. Company 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.