Wall Street analysts forecast that Intra-Cellular Therapies Inc (NASDAQ:ITCI) will post earnings per share of ($0.89) for the current quarter, Zacks reports. Zero analysts have made estimates for Intra-Cellular Therapies’ earnings, with the highest EPS estimate coming in at ($0.81) and the lowest estimate coming in at ($1.04). Intra-Cellular Therapies posted earnings of ($0.76) per share during the same quarter last year, which suggests a negative year over year growth rate of 17.1%. The firm is scheduled to report its next earnings report on Wednesday, November 6th.
According to Zacks, analysts expect that Intra-Cellular Therapies will report full year earnings of ($3.39) per share for the current year, with EPS estimates ranging from ($3.95) to ($3.15). For the next fiscal year, analysts forecast that the firm will post earnings of ($3.84) per share, with EPS estimates ranging from ($4.89) to ($2.53). Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Intra-Cellular Therapies.
Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.15.
Several brokerages recently issued reports on ITCI. ValuEngine upgraded Intra-Cellular Therapies from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Cowen reiterated a “buy” rating and issued a $28.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, July 8th. Jefferies Financial Group began coverage on Intra-Cellular Therapies in a research note on Monday, August 12th. They issued a “buy” rating and a $16.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $29.00 price target (up from $26.00) on shares of Intra-Cellular Therapies in a research note on Thursday, May 23rd. Finally, JMP Securities cut their price target on Intra-Cellular Therapies from $24.00 to $21.00 and set a “market outperform” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $23.88.
In other Intra-Cellular Therapies news, Director Christopher D. Alafi bought 170,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was purchased at an average cost of $11.73 per share, for a total transaction of $1,994,100.00. Following the completion of the purchase, the director now directly owns 750,106 shares of the company’s stock, valued at $8,798,743.38. The acquisition was disclosed in a filing with the SEC, which is available at this link. 18.20% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC purchased a new position in Intra-Cellular Therapies in the 2nd quarter valued at approximately $8,024,000. UBS Asset Management Americas Inc. grew its stake in Intra-Cellular Therapies by 3.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 31,464 shares of the biopharmaceutical company’s stock valued at $408,000 after buying an additional 1,144 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in Intra-Cellular Therapies by 13.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 354,888 shares of the biopharmaceutical company’s stock valued at $4,607,000 after buying an additional 42,630 shares in the last quarter. Morgan Stanley grew its stake in Intra-Cellular Therapies by 0.9% in the 2nd quarter. Morgan Stanley now owns 461,669 shares of the biopharmaceutical company’s stock valued at $5,993,000 after buying an additional 4,341 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Intra-Cellular Therapies by 6.5% in the 2nd quarter. Invesco Ltd. now owns 33,761 shares of the biopharmaceutical company’s stock valued at $438,000 after buying an additional 2,060 shares in the last quarter. Hedge funds and other institutional investors own 69.45% of the company’s stock.
Shares of ITCI stock opened at $9.10 on Wednesday. The company has a current ratio of 8.86, a quick ratio of 8.86 and a debt-to-equity ratio of 0.08. The stock has a market cap of $502.05 million, a P/E ratio of -3.20 and a beta of 1.18. The stock has a 50 day simple moving average of $10.51 and a 200 day simple moving average of $12.30. Intra-Cellular Therapies has a 1 year low of $7.41 and a 1 year high of $23.62.
About Intra-Cellular Therapies
Intra-Cellular Therapies, Inc, a biopharmaceutical company, engages in developing novel drugs for the treatment of neuropsychiatric and neurodegenerative disorders. The company is developing its lead drug candidate, lumateperone for the treatment of schizophrenia, bipolar disorder, behavioral disturbances associated with dementia, autism, and other CNS diseases.
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