Intra-Cellular Therapies (NASDAQ:ITCI) Releases Earnings Results, Beats Expectations By $0.15 EPS

Intra-Cellular Therapies (NASDAQ:ITCI) released its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping the consensus estimate 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 company had revenue of $144.90 million during the quarter, compared to the consensus estimate of $141.41 million. During the same period last year, the firm earned ($0.46) EPS. Intra-Cellular Therapies’s revenue for the quarter was up 52.0% on a year-over-year basis.

Intra-Cellular Therapies Trading Down 2.1 %

Shares of ITCI stock traded down $1.47 during trading hours on Wednesday, reaching $69.74. The company’s stock had a trading volume of 81,359 shares, compared to its average volume of 923,939. The stock has a market capitalization of $6.75 billion, a P/E ratio of -48.77 and a beta of 1.01. The firm’s fifty day simple moving average is $69.11 and its 200 day simple moving average is $65.85. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ITCI shares. Bank of America boosted their price objective on Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $120.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, April 24th. Robert W. Baird lifted their price objective on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Finally, The Goldman Sachs Group increased their price target on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

Insider Buying and Selling at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 22,590 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the transaction, the chief executive officer now owns 1,050,309 shares in the company, valued at $73,301,065.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Lawrence J. Hineline sold 10,121 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.96, for a total value of $667,581.16. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sharon Mates sold 22,590 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.79, for a total value of $1,576,556.10. Following the transaction, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $73,301,065.11. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,487 shares of company stock valued at $11,364,950. 3.40% of the stock is currently owned by company insiders.

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.