Intra-Cellular Therapies Inc. Forecasted to Post FY2019 Earnings of ($2.34) Per Share (ITCI)
Intra-Cellular Therapies Inc. (NASDAQ:ITCI) – Equities research analysts at Leerink Swann increased their FY2019 earnings per share (EPS) estimates for Intra-Cellular Therapies in a research note issued on Wednesday. Leerink Swann analyst P. Matteis now forecasts that the biopharmaceutical company will post earnings of ($2.34) per share for the year, up from their previous estimate of ($2.57). Leerink Swann has a “Outperform” rating on the stock.
Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.41) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.74) by $0.33. The company had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.03 million. Intra-Cellular Therapies had a negative net margin of 32,834.94% and a negative return on equity of 27.92%. Intra-Cellular Therapies’s revenue for the quarter was down 52.2% on a year-over-year basis. During the same period last year, the firm earned ($0.71) EPS. COPYRIGHT VIOLATION NOTICE: “Intra-Cellular Therapies Inc. Forecasted to Post FY2019 Earnings of ($2.34) Per Share (ITCI)” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another site, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/26/intra-cellular-therapies-inc-forecasted-to-post-fy2019-earnings-of-2-34-per-share-itci.html.
Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Intra-Cellular Therapies from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Piper Jaffray Companies lowered shares of Intra-Cellular Therapies from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $22.00 to $10.00 in a report on Monday, May 1st. Cantor Fitzgerald set a $29.00 price target on shares of Intra-Cellular Therapies and gave the stock a “buy” rating in a report on Thursday, May 11th. Ladenburg Thalmann Financial Services lowered shares of Intra-Cellular Therapies from a “buy” rating to a “neutral” rating in a report on Tuesday, May 2nd. Finally, ValuEngine lowered shares of Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Intra-Cellular Therapies presently has an average rating of “Hold” and an average price target of $24.33.
Intra-Cellular Therapies (NASDAQ:ITCI) traded down 3.96% on Friday, reaching $15.27. 1,128,915 shares of the company traded hands. The stock’s market capitalization is $663.08 million. Intra-Cellular Therapies has a 1-year low of $7.85 and a 1-year high of $45.20. The stock’s 50-day moving average is $11.98 and its 200-day moving average is $12.46.
Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Intra-Cellular Therapies during the second quarter worth about $103,000. Bank of America Corp DE raised its stake in Intra-Cellular Therapies by 53.4% in the first quarter. Bank of America Corp DE now owns 9,660 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 3,363 shares during the last quarter. Fred Alger Management Inc. acquired a new stake in Intra-Cellular Therapies during the second quarter worth about $161,000. Nine Chapters Capital Management LLC acquired a new stake in Intra-Cellular Therapies during the first quarter worth about $166,000. Finally, Voya Investment Management LLC raised its stake in Intra-Cellular Therapies by 16.0% in the second quarter. Voya Investment Management LLC now owns 16,911 shares of the biopharmaceutical company’s stock worth $210,000 after buying an additional 2,338 shares during the last quarter. 66.66% of the stock is owned by institutional investors and hedge funds.
About Intra-Cellular Therapies
Intra-Cellular Therapies, Inc (ITI) is a biopharmaceutical company. The Company is focused on the discovery and clinical development of small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system (CNS).
Receive News & Stock Ratings for Intra-Cellular Therapies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intra-Cellular Therapies Inc. and related stocks with our FREE daily email newsletter.