Cantor Fitzgerald Weighs in on Intra-Cellular Therapies, Inc.’s FY2021 Earnings (NASDAQ:ITCI)

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) – Investment analysts at Cantor Fitzgerald raised their FY2021 earnings per share estimates for shares of Intra-Cellular Therapies in a research report issued to clients and investors on Tuesday, January 11th. Cantor Fitzgerald analyst C. Duncan now forecasts that the biopharmaceutical company will post earnings per share of ($3.32) for the year, up from their prior forecast of ($3.33). Cantor Fitzgerald also issued estimates for Intra-Cellular Therapies’ FY2022 earnings at ($2.94) EPS.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Monday, November 8th. The biopharmaceutical company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.03). Intra-Cellular Therapies had a negative net margin of 367.06% and a negative return on equity of 44.88%. The company had revenue of $22.21 million during the quarter, compared to analysts’ expectations of $22.11 million. During the same quarter last year, the firm earned ($0.79) EPS. Intra-Cellular Therapies’s revenue for the quarter was up 201.4% on a year-over-year basis.

A number of other equities research analysts have also weighed in on ITCI. Royal Bank of Canada boosted their price target on Intra-Cellular Therapies from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 21st. Zacks Investment Research upgraded Intra-Cellular Therapies from a “sell” rating to a “hold” rating in a research note on Thursday. SVB Leerink boosted their price target on Intra-Cellular Therapies from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 20th. Needham & Company LLC lifted their target price on Intra-Cellular Therapies from $55.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, December 20th. Finally, BTIG Research reaffirmed a “buy” rating and set a $40.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, October 27th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $54.80.

ITCI opened at $43.07 on Thursday. Intra-Cellular Therapies has a 1 year low of $28.40 and a 1 year high of $55.19. The firm has a market capitalization of $3.51 billion, a PE ratio of -13.42 and a beta of 1.15. The business’s 50-day moving average is $42.80 and its two-hundred day moving average is $38.89.

Large investors have recently made changes to their positions in the business. Deutsche Bank AG lifted its holdings in Intra-Cellular Therapies by 225.6% in the second quarter. Deutsche Bank AG now owns 152,474 shares of the biopharmaceutical company’s stock valued at $6,225,000 after acquiring an additional 105,650 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Intra-Cellular Therapies by 101.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 235,871 shares of the biopharmaceutical company’s stock worth $9,628,000 after buying an additional 119,017 shares during the period. Lord Abbett & CO. LLC raised its stake in shares of Intra-Cellular Therapies by 1.1% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,145,588 shares of the biopharmaceutical company’s stock worth $87,583,000 after buying an additional 23,448 shares during the period. Vanguard Group Inc. raised its stake in shares of Intra-Cellular Therapies by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 6,828,437 shares of the biopharmaceutical company’s stock worth $278,737,000 after buying an additional 106,744 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Intra-Cellular Therapies by 1,037.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 292,463 shares of the biopharmaceutical company’s stock worth $11,938,000 after buying an additional 266,741 shares during the period. 83.61% of the stock is owned by institutional investors.

In other Intra-Cellular Therapies news, CFO Lawrence J. Hineline sold 19,639 shares of the business’s stock in a transaction that occurred on Monday, January 10th. The stock was sold at an average price of $40.76, for a total value of $800,485.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sharon Mates sold 41,896 shares of the business’s stock in a transaction that occurred on Monday, January 10th. The shares were sold at an average price of $40.78, for a total value of $1,708,518.88. The disclosure for this sale can be found here. Insiders have sold 462,856 shares of company stock valued at $21,260,305 in the last ninety days. Corporate insiders own 13.20% of the company’s stock.

About Intra-Cellular Therapies

Intra-Cellular Therapies, Inc operates as a biopharmaceutical company. It focuses on the discovery and clinical development of small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system, or CNS.

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Earnings History and Estimates for Intra-Cellular Therapies (NASDAQ:ITCI)

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