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 analysts’ consensus estimates of ($0.18) by ($0.07), Briefing.com reports. The firm had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 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 for the quarter was up 39.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.25) EPS.
Intra-Cellular Therapies Trading Up 0.6 %
Shares of NASDAQ:ITCI traded up $0.54 during trading on Thursday, reaching $86.01. The stock had a trading volume of 392,268 shares, compared to its average volume of 868,096. Intra-Cellular Therapies has a one year low of $46.10 and a one year high of $88.00. The company has a market capitalization of $9.08 billion, a P/E ratio of -73.68 and a beta of 1.00. The firm’s 50-day simple moving average is $74.73 and its 200 day simple moving average is $73.04.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on ITCI shares. Piper Sandler upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Morgan Stanley increased 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 report on Friday, October 11th. The Goldman Sachs Group reduced their target price on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.62.
Insider Activity
In other news, CEO Sharon Mates sold 53,013 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total value of $4,010,433.45. Following the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $80,970,388.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Mark Neumann sold 18,714 shares of Intra-Cellular Therapies stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 29,700 shares in the company, valued at $2,229,876. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sharon Mates sold 53,013 shares of Intra-Cellular Therapies stock in a transaction that occurred on 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 owns 1,070,329 shares of the company’s stock, valued at $80,970,388.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,316 shares of company stock worth $13,037,345. Corporate 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.
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