Intra-Cellular Therapies Inc. (NASDAQ: ITCI) stock fell -3.18% on Wednesday to $51.19 against a previous-day closing price of $52.87. With 0.49 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.71 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $53.57 whereas the lowest price it dropped to was $50.76. The 52-week range on ITCI shows that it touched its highest point at $66.00 and its lowest point at $34.43 during that stretch. It currently has a 1-year price target of $68.69. Beta for the stock currently stands at 1.16.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ITCI was up-trending over the past week, with a rise of 2.56%, but this was up by 14.60% over a month. Three-month performance surged to 3.81% while six-month performance fell -9.67%. The stock gained 21.85% in the past year, while it has lost -2.20% so far this year. A look at the trailing 12-month EPS for ITCI yields -3.32 with Next year EPS estimates of -1.65. For the next quarter, that number is -0.60. This implies an EPS growth rate of -8.40% for this year and 42.70% for next year.
Float and Shares Shorts:
At present, 94.52 million ITCI shares are outstanding with a float of 92.23 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.02 million, which was 4.26% higher than short shares on Sep 14, 2022. In addition to Dr. Sharon Mates Ph.D. as the firm’s Co-Founder, Chairman, CEO & Pres, Mr. Lawrence J. Hineline CPA, CPA serves as its Sr. VP of Fin., CFO, Treasurer & Assistant Sec..
Through their ownership of 92.62% of ITCI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 54.07% of ITCI, in contrast to 34.80% held by mutual funds. Shares owned by individuals account for 13.14%. As the largest shareholder in ITCI with 10.86% of the stake, Fidelity Management & Research Co holds 10,256,011 shares worth 10,256,011. A second-largest stockholder of ITCI, The Vanguard Group, Inc., holds 7,881,945 shares, controlling over 8.35% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ITCI, holding 5,963,976 shares or 6.32% stake. With a 3.75% stake in ITCI, the BB Biotech AG is the largest stakeholder. A total of 3,538,419 shares are owned by the mutual fund manager. The Fidelity Growth Company Fund, which owns about 3.34% of ITCI stock, is the second-largest Mutual Fund holder. It holds 3,150,119 shares valued at 143.87 million. Vanguard Total Stock Market Index holds 2.71% of the stake in ITCI, owning 2,562,422 shares worth 117.03 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ITCI since 13 analysts follow the stock currently. There are 11 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ITCI analysts setting a high price target of $93.00 and a low target of $50.00, the average target price over the next 12 months is $68.69. Based on these targets, ITCI could surge 81.68% to reach the target high and fall by -2.32% to reach the target low. Reaching the average price target will result in a growth of 34.19% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ITCI will report FY 2022 earnings on 03/01/2023. Analysts have provided yearly estimates in a range of -$2.75 being high and -$3.10 being low. For ITCI, this leads to a yearly average estimate of -$2.89. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Intra-Cellular Therapies Inc. surprised analysts by $0.24 when it reported -$0.57 EPS against a consensus estimate of -$0.81. The surprise factor in the prior quarter was -$0.16. Based on analyst estimates, the high estimate for the next quarter is -$0.42 and the low estimate is -$0.80. The average estimate for the next quarter is thus -$0.60.
Summary of Insider Activity:
Insiders traded ITCI stock several times over the past three months with 3 Buys and 2 Sells. In these transactions, 65,639 shares were bought while 65,164 shares were sold. The number of buy transactions has increased to 34 while that of sell transactions has risen to 71 over the past year. The total number of shares bought during that period was 811,901 while 1,037,943 shares were sold.