Intra-Cellular Therapies (NASDAQ:ITCI) Announces Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Intra-Cellular Therapies (NASDAQ:ITCI) released its earnings results on Friday. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.08), Zacks reports. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI traded up $0.09 during trading hours on Friday, hitting $128.63. 544,565 shares of the company were exchanged, compared to its average volume of 4,170,858. Intra-Cellular Therapies has a 52-week low of $62.78 and a 52-week high of $128.77. The stock has a market capitalization of $13.68 billion, a price-to-earnings ratio of -147.86 and a beta of 0.72. The company’s 50 day moving average price is $109.36 and its 200-day moving average price is $89.29.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ITCI. JPMorgan Chase & Co. increased their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, January 13th. Leerink Partnrs downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. StockNews.com assumed coverage on Intra-Cellular Therapies in a report on Sunday, February 16th. They set a “hold” rating for the company. Finally, Piper Sandler reiterated a “neutral” rating and set a $132.00 price target (up from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.62.

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.