Brokerages forecast that Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) will post $18.93 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Intra-Cellular Therapies’ earnings, with estimates ranging from $18.28 million to $19.50 million. Intra-Cellular Therapies posted sales of $1.91 million during the same quarter last year, which suggests a positive year over year growth rate of 891.1%. The company is expected to report its next earnings report on Monday, August 9th.
On average, analysts expect that Intra-Cellular Therapies will report full-year sales of $96.78 million for the current financial year, with estimates ranging from $93.00 million to $99.90 million. For the next fiscal year, analysts expect that the firm will report sales of $252.12 million, with estimates ranging from $237.26 million to $279.00 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Intra-Cellular Therapies.
Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Sunday, May 9th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.81) by $0.16. The company had revenue of $15.88 million for the quarter, compared to analyst estimates of $15.74 million. Intra-Cellular Therapies had a negative return on equity of 39.41% and a negative net margin of 617.78%.
Separately, Zacks Investment Research upgraded shares of Intra-Cellular Therapies from a “sell” rating to a “hold” rating in a research report on Friday, May 14th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Intra-Cellular Therapies currently has an average rating of “Buy” and an average target price of $45.00.
Shares of ITCI traded down $0.98 on Friday, hitting $43.52. The company’s stock had a trading volume of 4,202 shares, compared to its average volume of 558,642. The firm has a market capitalization of $3.53 billion, a P/E ratio of -14.08 and a beta of 1.33. Intra-Cellular Therapies has a fifty-two week low of $17.26 and a fifty-two week high of $44.60. The business has a 50 day moving average price of $37.27.
In related news, Director Christopher D. Alafi sold 26,575 shares of the company’s stock in a transaction on Monday, May 24th. The shares were sold at an average price of $40.47, for a total value of $1,075,490.25. Following the completion of the sale, the director now owns 346,795 shares in the company, valued at approximately $14,034,793.65. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Christopher D. Alafi sold 1,100 shares of the company’s stock in a transaction on Friday, May 21st. The shares were sold at an average price of $40.00, for a total transaction of $44,000.00. Following the completion of the sale, the director now owns 346,795 shares of the company’s stock, valued at approximately $13,871,800. The disclosure for this sale can be found here. Insiders have sold a total of 54,446 shares of company stock valued at $2,231,931 in the last quarter. Corporate insiders own 13.20% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its position in shares of Intra-Cellular Therapies by 1.9% in the 1st quarter. Arizona State Retirement System now owns 21,001 shares of the biopharmaceutical company’s stock valued at $713,000 after buying an additional 389 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Intra-Cellular Therapies by 5.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,781 shares of the biopharmaceutical company’s stock valued at $332,000 after buying an additional 485 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG boosted its stake in Intra-Cellular Therapies by 2.4% in the 1st quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 22,145 shares of the biopharmaceutical company’s stock worth $751,000 after purchasing an additional 522 shares during the period. Virtus ETF Advisers LLC boosted its stake in Intra-Cellular Therapies by 2.8% in the 1st quarter. Virtus ETF Advisers LLC now owns 24,764 shares of the biopharmaceutical company’s stock worth $840,000 after purchasing an additional 679 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in Intra-Cellular Therapies by 19.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 5,025 shares of the biopharmaceutical company’s stock worth $169,000 after purchasing an additional 817 shares during the period. Institutional investors and hedge funds own 83.39% of the company’s stock.
Intra-Cellular Therapies Company Profile
Intra-Cellular Therapies, Inc, a biopharmaceutical company, develops novel drugs for the treatment of neuropsychiatric and neurologic diseases, and other disorders of the central nervous system (CNS) in the United States. The company offers CAPLYTA for the treatment of schizophrenia in adults. It is also developing lumateperone, which is in Phase 3 clinical trials for the treatment of bipolar depression, as well as to treat autism spectrum disorder, and sleep disorders associated with neuropsychiatric and neurological disorders.
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