Intra-Cellular Therapies Inc. (ITCI) to Release Quarterly Earnings on Thursday
Intra-Cellular Therapies Inc. (NASDAQ:ITCI) is scheduled to issue its Q3 2017 quarterly earnings data before the market opens on Thursday, November 9th. Analysts expect the company to announce earnings of ($0.53) per share for the quarter.
Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.33. The company had revenue of $0.11 million during the quarter, compared to analyst estimates of $0.03 million. Intra-Cellular Therapies had a negative net margin of 32,834.94% and a negative return on equity of 27.92%. The business’s revenue for the quarter was down 52.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.71) EPS. On average, analysts expect Intra-Cellular Therapies to post $-2.22 EPS for the current fiscal year and $-2.63 EPS for the next fiscal year.
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In other Intra-Cellular Therapies news, major shareholder Alafi Capital Co Llc bought 258,065 shares of Intra-Cellular Therapies stock in a transaction dated Monday, October 2nd. The shares were bought at an average price of $15.50 per share, with a total value of $4,000,007.50. Following the purchase, the insider now owns 3,953,270 shares of the company’s stock, valued at $61,275,685. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sharon Mates sold 18,750 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 1,107,457 shares in the company, valued at approximately $17,442,447.75. The disclosure for this sale can be found here. 21.00% of the stock is currently owned by company insiders.
ITCI has been the topic of a number of research analyst reports. Cowen and Company reissued a “buy” rating and set a $20.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, August 23rd. Cantor Fitzgerald reissued a “buy” rating on shares of Intra-Cellular Therapies in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Tuesday, August 15th. BTIG Research reissued a “buy” rating and set a $36.00 price objective on shares of Intra-Cellular Therapies in a report on Friday, September 8th. Finally, Piper Jaffray Companies set a $14.00 price objective on shares of Intra-Cellular Therapies and gave the stock a “hold” rating in a report on Thursday, August 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Intra-Cellular Therapies presently has a consensus rating of “Hold” and a consensus price target of $24.38.
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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