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

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

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ:ITCI traded down $1.47 during midday trading on Wednesday, hitting $69.74. The company’s stock had a trading volume of 81,359 shares, compared to its average volume of 923,939. The company has a market cap of $6.75 billion, a P/E ratio of -48.77 and a beta of 1.01. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89. The business’s 50 day simple moving average is $69.11 and its 200 day simple moving average is $65.85.

Insider Activity at Intra-Cellular Therapies

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. In other Intra-Cellular Therapies news, CFO Lawrence J. Hineline sold 13,337 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $69.43, for a total value of $925,987.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Suresh K. Durgam sold 6,450 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were 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 disclosure for this sale can be found here. In the last quarter, insiders sold 168,487 shares of company stock valued at $11,364,950. Corporate insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ITCI shares. TD Cowen boosted 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. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Intra-Cellular Therapies in a research note on Tuesday. Canaccord Genuity Group lifted their price target on Intra-Cellular Therapies from $100.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. The Goldman Sachs Group increased their price target on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Finally, Mizuho boosted their price objective on Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Intra-Cellular Therapies has a consensus rating of “Moderate Buy” and a consensus target price of $90.17.

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.