Leerink Partnrs Issues Negative Forecast for ITCI Earnings

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) – Equities research analysts at Leerink Partnrs lowered their Q3 2024 EPS estimates for shares of Intra-Cellular Therapies in a report issued on Tuesday, October 15th. Leerink Partnrs analyst M. Goodman now expects that the biopharmaceutical company will post earnings per share of ($0.09) 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.

ITCI has been the topic of a number of other research reports. Mizuho raised their target price on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. raised their price objective on Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their target price for the company from $68.00 to $92.00 in a research note on Friday, September 6th. The Goldman Sachs Group reduced their target price on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.62.

Intra-Cellular Therapies Trading Down 0.4 %

NASDAQ:ITCI opened at $78.34 on Friday. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of -67.53 and a beta of 1.00. The company’s 50-day moving average is $74.43 and its two-hundred day moving average is $72.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.03. The business had revenue of $161.40 million for the quarter, compared to the consensus estimate of $157.74 million. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The business’s revenue was up 45.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.45) earnings per share.

Insider Activity

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $77,962,764.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sharon Mates sold 34,396 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $77,962,764.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark Neumann sold 18,714 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,229,876. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 175,316 shares of company stock worth $13,037,345. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Intra-Cellular Therapies

Several institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its stake in Intra-Cellular Therapies by 52.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 578,615 shares of the biopharmaceutical company’s stock worth $41,440,000 after purchasing an additional 199,503 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Intra-Cellular Therapies by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock valued at $651,334,000 after acquiring an additional 554,577 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in Intra-Cellular Therapies during the fourth quarter worth $217,000. Kapitalo Investimentos Ltda acquired a new position in Intra-Cellular Therapies in the fourth quarter worth $26,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Intra-Cellular Therapies by 14.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 16,651 shares of the biopharmaceutical company’s stock valued at $1,152,000 after purchasing an additional 2,090 shares during the last quarter. 92.33% of the stock is owned by institutional investors and hedge funds.

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.