Intra-Cellular Therapies Inc. Forecasted to Post FY2017 Earnings of ($2.11) Per Share (ITCI)
Intra-Cellular Therapies Inc. (NASDAQ:ITCI) – SunTrust Banks lifted their FY2017 earnings per share (EPS) estimates for shares of Intra-Cellular Therapies in a report released on Wednesday. SunTrust Banks analyst E. Nash now anticipates that the biopharmaceutical company will post earnings of ($2.11) per share for the year, up from their prior forecast of ($2.35). SunTrust Banks has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Intra-Cellular Therapies’ Q4 2017 earnings at ($0.55) EPS, FY2018 earnings at ($2.24) EPS, FY2019 earnings at ($2.07) EPS, FY2020 earnings at ($2.39) EPS and FY2021 earnings at ($0.89) EPS.
Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, hitting the consensus estimate of ($0.53). Intra-Cellular Therapies had a negative net margin of 28,038.35% and a negative return on equity of 26.69%. The firm had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.06 million. During the same period in the previous year, the company posted ($0.70) EPS. The company’s quarterly revenue was up 675.0% compared to the same quarter last year.
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Other equities research analysts have also issued research reports about the stock. BidaskClub lowered shares of Intra-Cellular Therapies from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. ValuEngine raised shares of Intra-Cellular Therapies from a “strong sell” rating to a “sell” rating in a research note on Friday, August 18th. Leerink Swann reissued a “market perform” rating and set a $12.00 target price on shares of Intra-Cellular Therapies in a research note on Tuesday, August 15th. Zacks Investment Research raised shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday, August 15th. Finally, BTIG Research reissued a “buy” rating and set a $36.00 target price on shares of Intra-Cellular Therapies in a research note on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. Intra-Cellular Therapies presently has a consensus rating of “Buy” and a consensus price target of $25.00.
Intra-Cellular Therapies (NASDAQ:ITCI) opened at $14.79 on Friday. Intra-Cellular Therapies has a 52-week low of $7.85 and a 52-week high of $22.67.
Several large investors have recently bought and sold shares of the company. Trexquant Investment LP bought a new position in shares of Intra-Cellular Therapies during the 3rd quarter worth about $508,000. JPMorgan Chase & Co. bought a new position in shares of Intra-Cellular Therapies during the 3rd quarter worth about $6,310,000. Legal & General Group Plc increased its holdings in shares of Intra-Cellular Therapies by 105.7% during the 3rd quarter. Legal & General Group Plc now owns 16,942 shares of the biopharmaceutical company’s stock worth $266,000 after purchasing an additional 8,707 shares during the period. Wasatch Advisors Inc. increased its stake in Intra-Cellular Therapies by 18.7% in the third quarter. Wasatch Advisors Inc. now owns 1,970,181 shares of the biopharmaceutical company’s stock valued at $31,089,000 after acquiring an additional 310,668 shares during the period. Finally, Alpine Woods Capital Investors LLC increased its stake in Intra-Cellular Therapies by 24.5% in the third quarter. Alpine Woods Capital Investors LLC now owns 91,544 shares of the biopharmaceutical company’s stock valued at $1,445,000 after acquiring an additional 18,000 shares during the period. Institutional investors own 59.41% of the company’s stock.
In other news, CEO Sharon Mates sold 18,750 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $15.75, for a total transaction of $295,312.50. Following the transaction, the chief executive officer now owns 1,107,457 shares in the company, valued at approximately $17,442,447.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Alafi Capital Co Llc acquired 258,065 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were bought at an average price of $15.50 per share, for a total transaction of $4,000,007.50. Following the acquisition, the insider now owns 3,953,270 shares in the company, valued at approximately $61,275,685. The disclosure for this purchase can be found here. Company insiders own 19.80% of the company’s stock.
About Intra-Cellular Therapies
Intra-Cellular Therapies, Inc (ITI) is a biopharmaceutical company. The Company is focused 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 (CNS).
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