FY2024 EPS Estimates for Intra-Cellular Therapies, Inc. Raised by Cantor Fitzgerald (NASDAQ:ITCI)

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) – Equities researchers at Cantor Fitzgerald raised their FY2024 earnings per share (EPS) estimates for Intra-Cellular Therapies in a note issued to investors on Wednesday, April 24th. Cantor Fitzgerald analyst C. Duncan now anticipates that the biopharmaceutical company will earn ($0.82) per share for the year, up from their previous estimate of ($0.86). Cantor Fitzgerald has a “Overweight” rating and a $120.00 price objective on the stock. The consensus estimate for Intra-Cellular Therapies’ current full-year earnings is ($0.62) per share.

A number of other brokerages have also commented on ITCI. TD Cowen boosted their price objective on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Robert W. Baird increased their price target on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. The Goldman Sachs Group raised their price objective on Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Bank of America increased their target price on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, Mizuho boosted their price target on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.17.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI opened at $73.26 on Friday. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89. The company has a market cap of $7.09 billion, a PE ratio of -50.18 and a beta of 1.02. The firm has a 50-day moving average of $69.33 and a 200-day moving average of $64.78.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The company had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $135.97 million. During the same period last year, the business earned ($0.45) EPS. Intra-Cellular Therapies’s quarterly revenue was up 50.3% compared to the same quarter last year.

Insider Transactions at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 20,565 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $65.21, for a total value of $1,341,043.65. Following the sale, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $68,490,649.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sharon Mates sold 20,565 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $65.21, for a total value of $1,341,043.65. Following the completion of the transaction, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $68,490,649.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Suresh K. Durgam sold 6,450 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total value of $429,312.00. Following the sale, the executive vice president now owns 16,170 shares in the company, valued at approximately $1,076,275.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,487 shares of company stock worth $11,364,950. 3.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Institutional investors and hedge funds have recently modified their holdings of the company. Quantum Private Wealth LLC increased its holdings in Intra-Cellular Therapies by 64.7% during the 4th quarter. Quantum Private Wealth LLC now owns 23,705 shares of the biopharmaceutical company’s stock worth $1,698,000 after acquiring an additional 9,308 shares during the period. HealthInvest Partners AB purchased a new stake in shares of Intra-Cellular Therapies in the fourth quarter worth $877,000. Phocas Financial Corp. bought a new stake in Intra-Cellular Therapies during the fourth quarter valued at $1,949,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in Intra-Cellular Therapies by 209.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 154,700 shares of the biopharmaceutical company’s stock worth $8,058,000 after buying an additional 104,700 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Intra-Cellular Therapies by 36.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,914 shares of the biopharmaceutical company’s stock worth $50,783,000 after acquiring an additional 259,424 shares during the last quarter. 92.33% of the stock is owned by hedge funds and other institutional investors.

About Intra-Cellular Therapies

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.