Intra-Cellular Therapies (NASDAQ:ITCI) Issues Quarterly Earnings Results

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

Intra-Cellular Therapies Stock Performance

NASDAQ ITCI traded down $0.16 during trading hours on Thursday, reaching $66.84. The stock had a trading volume of 31,541 shares, compared to its average volume of 924,168. Intra-Cellular Therapies has a 52-week low of $45.50 and a 52-week high of $84.89. The stock has a market cap of $6.47 billion, a P/E ratio of -45.89 and a beta of 1.01. The stock has a fifty day moving average of $69.03 and a 200 day moving average of $65.86.

Insider Transactions at Intra-Cellular Therapies

In related news, EVP Michael Halstead sold 7,907 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.53, for a total transaction of $549,773.71. Following the sale, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,065,041. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Suresh K. Durgam sold 6,450 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total transaction of $429,312.00. Following the transaction, the executive vice president now directly owns 16,170 shares in the company, valued at approximately $1,076,275.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction of $549,773.71. Following the sale, the executive vice president now owns 29,700 shares of the company’s stock, valued at approximately $2,065,041. The disclosure for this sale can be found here. Insiders have sold 168,487 shares of company stock worth $11,364,950 over the last quarter. 3.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ITCI shares. Mizuho lifted their price objective on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Bank of America lifted their price target on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Canaccord Genuity Group increased their price objective on Intra-Cellular Therapies from $100.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. The Goldman Sachs Group boosted their target price on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $90.17.

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.