Intra-Cellular Therapies (ITCI) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Intra-Cellular Therapies (NASDAQ:ITCI) released its earnings results on Wednesday. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.85) by $0.09, MarketWatch Earnings reports.

Shares of ITCI traded down $1.69 during trading hours on Friday, reaching $18.09. The company had a trading volume of 318,300 shares, compared to its average volume of 397,314. The company has a market capitalization of $1.01 billion, a PE ratio of -8.53 and a beta of 1.13. Intra-Cellular Therapies has a 12-month low of $14.30 and a 12-month high of $25.82.

Several analysts have recently commented on ITCI shares. Cantor Fitzgerald restated a “buy” rating and issued a $28.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, July 23rd. Canaccord Genuity set a $31.00 price target on shares of Intra-Cellular Therapies and gave the company a “buy” rating in a report on Thursday, August 2nd. ValuEngine upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a report on Friday, August 3rd. Royal Bank of Canada reiterated a “buy” rating and issued a $35.00 price target on shares of Intra-Cellular Therapies in a report on Friday, August 3rd. Finally, BidaskClub upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a report on Friday, September 28th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $28.00.

Institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement Association of Colorado increased its holdings in shares of Intra-Cellular Therapies by 127.8% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 5,687 shares of the biopharmaceutical company’s stock valued at $123,000 after purchasing an additional 3,190 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new position in Intra-Cellular Therapies during the 2nd quarter valued at about $167,000. Cubist Systematic Strategies LLC increased its holdings in Intra-Cellular Therapies by 53.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 9,641 shares of the biopharmaceutical company’s stock valued at $170,000 after acquiring an additional 3,339 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Intra-Cellular Therapies by 19.9% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 20,462 shares of the biopharmaceutical company’s stock valued at $362,000 after acquiring an additional 3,400 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its holdings in Intra-Cellular Therapies by 42.7% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 25,060 shares of the biopharmaceutical company’s stock valued at $443,000 after acquiring an additional 7,500 shares in the last quarter. Institutional investors and hedge funds own 70.87% of the company’s stock.

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Intra-Cellular Therapies Company Profile

Intra-Cellular Therapies, Inc, a biopharmaceutical company, engages in developing novel drugs for the treatment of neuropsychiatric and neurodegenerative diseases. The company is developing its lead drug candidate, lumateperone, known as ITI-007, for the treatment of schizophrenia, bipolar disorder, behavioral disturbances in patients with dementia, and other neuropsychiatric and neurological disorders.

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Earnings History for Intra-Cellular Therapies (NASDAQ:ITCI)

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