Research Analysts Offer Predictions for Intra-Cellular Therapies, Inc.’s Q3 2024 Earnings (NASDAQ:ITCI)

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) – Research analysts at Leerink Partnrs boosted their Q3 2024 earnings estimates for Intra-Cellular Therapies in a research note issued to investors on Wednesday, August 7th. Leerink Partnrs analyst M. Goodman now forecasts that the biopharmaceutical company will earn ($0.07) per share for the quarter, up from their previous forecast of ($0.08). The consensus estimate for Intra-Cellular Therapies’ current full-year earnings is ($0.54) per share. Leerink Partnrs also issued estimates for Intra-Cellular Therapies’ Q4 2024 earnings at ($0.06) EPS, FY2024 earnings at ($0.45) EPS, FY2025 earnings at $0.55 EPS, FY2026 earnings at $3.40 EPS, FY2027 earnings at $5.75 EPS and FY2028 earnings at $7.35 EPS.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.03. The company had revenue of $161.40 million during the quarter, compared to analysts’ expectations of $157.74 million. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. The business’s quarterly revenue was up 45.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.45) earnings per share.

Other analysts have also issued research reports about the stock. Royal Bank of Canada cut their price objective on shares of Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Intra-Cellular Therapies from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 12th. Cantor Fitzgerald boosted their price objective on shares of Intra-Cellular Therapies from $120.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. UBS Group cut 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 report on Thursday, August 8th. Finally, Mizuho boosted their price objective 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. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Intra-Cellular Therapies currently has an average rating of “Moderate Buy” and a consensus target price of $96.73.

Intra-Cellular Therapies Stock Up 0.6 %

Intra-Cellular Therapies stock opened at $75.33 on Monday. The company has a 50 day moving average of $73.80 and a 200-day moving average of $70.70. The stock has a market capitalization of $7.95 billion, a PE ratio of -65.12 and a beta of 1.01. Intra-Cellular Therapies has a twelve month low of $45.50 and a twelve month high of $84.89.

Hedge Funds Weigh In On Intra-Cellular Therapies

Institutional investors and hedge funds have recently modified their holdings of the stock. Kapitalo Investimentos Ltda acquired a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at $26,000. Headlands Technologies LLC acquired a new position in shares of Intra-Cellular Therapies in the first quarter valued at about $32,000. Signaturefd LLC grew its stake in shares of Intra-Cellular Therapies by 85.7% in the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 239 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Intra-Cellular Therapies in the first quarter valued at about $53,000. Finally, Summit Securities Group LLC acquired a new position in shares of Intra-Cellular Therapies in the second quarter valued at about $56,000. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, Director Rory B. Riggs sold 4,462 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $75.57, for a total transaction of $337,193.34. Following the sale, the director now directly owns 116,600 shares of the company’s stock, valued at $8,811,462. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intra-Cellular Therapies news, Director Nostrand Robert L. Van sold 20,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $75.91, for a total value of $1,518,200.00. Following the transaction, the director now directly owns 9,690 shares in the company, valued at $735,567.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Rory B. Riggs sold 4,462 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $75.57, for a total transaction of $337,193.34. Following the completion of the transaction, the director now owns 116,600 shares in the company, valued at $8,811,462. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

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.