Intra-Cellular Therapies (NASDAQ:ITCI) Issues Quarterly Earnings Results

by · The Markets Daily

Intra-Cellular Therapies (NASDAQ:ITCI – Get Free Report) announced its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07), Briefing.com reports. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The business had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. During the same quarter last year, the company posted ($0.25) earnings per share. The company’s revenue was up 39.0% compared to the same quarter last year.

Intra-Cellular Therapies Stock Performance

NASDAQ:ITCI traded up $0.54 during midday trading on Thursday, reaching $86.01. 392,268 shares of the stock traded hands, compared to its average volume of 868,096. The company has a fifty day moving average of $74.73 and a 200 day moving average of $73.04. Intra-Cellular Therapies has a 12 month low of $46.10 and a 12 month high of $88.00. The stock has a market capitalization of $9.08 billion, a P/E ratio of -73.68 and a beta of 1.00.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $80,970,388.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sharon Mates sold 53,013 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $80,970,388.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,316 shares of company stock worth $13,037,345 in the last three months. 3.40% of the stock is owned by insiders.

Analysts Set New Price Targets

ITCI has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Morgan Stanley raised their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. raised their price objective on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. UBS Group dropped their price objective on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $96.62.

View Our Latest Stock Analysis on ITCI

Intra-Cellular Therapies Company Profile

(Get Free Report)

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.

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