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Here's Why You Should Add Intra-Cellular Therapeutics (ITCI) Stock Now
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Intra-Cellular Therapeutics (ITCI - Free Report) stock is benefiting from the higher demand for its schizophrenia and bipolar disorder drug, Caplyta. We are positive about the company’s prospects and believe that the time is right for investors to add the stock to their portfolio as the stock is poised to carry the momentum ahead.
Let’s delve deeper to see what makes this biopharma company a compelling investment option at the moment.
Price Performance & Zacks Rank
Shares of Intra-Cellular have rallied 12.6% in the past year, compared to the industry’s decline of 30.9%. It has also outperformed the S&P 500’s 20% decline over the same period. The company currently sports a Zacks Rank #2 (Buy).
Image Source: Zacks Investment Research
Growth Drivers
Intra-Cellular Therapeutics has one FDA-approved drug in its portfolio, Caplyta (lumateperone), for treating schizophrenia in adults. The company witnessed strong uptake of the drug post its commercial launch in March 2020.
In December 2021, the drug was approved by the FDA for depressive episodes associated with bipolar I or II disorder in adults as monotherapy and adjunctive therapy with lithium or valproate.
Post the launch of its bipolar indication, Caplyta sales have picked up further, witnessing robust initial prescription growth. It also witnessed an increase in Caplyta prescriptions for treating schizophrenia in the second quarter of 2022. The trend is likely to continue in the second half of 2022.
In the second half of the year, Intra-Cellular expects continued robust sales of Caplyta in the target market, following the approval of its two new dosage strengths —10.5 mg and 21 mg— for patients concomitantly taking strong or moderate CYP3A4 inhibitors and 21 mg for patients with moderate or severe hepatic impairment.
Intra-Cellular is evaluating Caplyta in several other indications. Caplyta is currently being evaluated in three phase III studies evaluating the drug as a treatment for major depressive disorder (MDD) — for treating major depressive episodes associated with bipolar I or bipolar II disorder and for relapse prevention in schizophrenic patients. A potential approval in the near future is anticipated to boost Intra-Cellular’s top line.
Other Pipeline Candidates Hold Potential
Intra-Cellular also has two other pipeline candidates in the early-stage study. Lenrispodun (ITI-214) is being developed for Parkinson’s disease and ITI-333 is being developed as a potential treatment for substance use disorders, pain and psychiatric comorbidities, including depression and anxiety.
Conclusion
Intra-Cellular’s high dependence on just Caplyta sales for revenues is a concern. It needs a growth opportunity apart from Caplyta. The company’s other pipeline candidates are several years away from commercialization,
Nonetheless, a consistent rise in Caplyta sales, successful label expansion of the drug, and minimal competition in its target market is likely to keep the stock afloat in the long term.
BioMarin’s earnings per share estimates for 2022 are down by a cent at $1.98 in the past 30 days. The same for 2023 has improved by a cent from $3.80 to $3.81 in the same time frame.
Earnings of Immunocore missed estimates in three of the trailing four quarters while beating the same in the reaming occasion. The average earnings surprise for IMCR is 33.28%.
Denali’s loss per share estimates for 2022 have remained steady at $2.68 over the past 30 days. The loss per share for 2023 has also remained steady at $2.92 in the same time frame.
Earnings of Denali beat estimates in one of the trailing four quarters, while missing the same on the remaining three occasions. The average negative earnings surprise for DNLI is 22.90%.
Incyte’s earnings estimates for 2022 have remained steady at $3.12 over the past 30 days. The earnings estimate for 2023 also remained steady at $4.23 per share in the same time frame.
INCY surpassed earnings in two of the trailing four quarters, missing the same in the remaining two occasions. The average negative earnings surprise for Incyte is 2.13%.
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Here's Why You Should Add Intra-Cellular Therapeutics (ITCI) Stock Now
Intra-Cellular Therapeutics (ITCI - Free Report) stock is benefiting from the higher demand for its schizophrenia and bipolar disorder drug, Caplyta. We are positive about the company’s prospects and believe that the time is right for investors to add the stock to their portfolio as the stock is poised to carry the momentum ahead.
Let’s delve deeper to see what makes this biopharma company a compelling investment option at the moment.
Price Performance & Zacks Rank
Shares of Intra-Cellular have rallied 12.6% in the past year, compared to the industry’s decline of 30.9%. It has also outperformed the S&P 500’s 20% decline over the same period. The company currently sports a Zacks Rank #2 (Buy).
Image Source: Zacks Investment Research
Growth Drivers
Intra-Cellular Therapeutics has one FDA-approved drug in its portfolio, Caplyta (lumateperone), for treating schizophrenia in adults. The company witnessed strong uptake of the drug post its commercial launch in March 2020.
In December 2021, the drug was approved by the FDA for depressive episodes associated with bipolar I or II disorder in adults as monotherapy and adjunctive therapy with lithium or valproate.
Post the launch of its bipolar indication, Caplyta sales have picked up further, witnessing robust initial prescription growth. It also witnessed an increase in Caplyta prescriptions for treating schizophrenia in the second quarter of 2022. The trend is likely to continue in the second half of 2022.
In the second half of the year, Intra-Cellular expects continued robust sales of Caplyta in the target market, following the approval of its two new dosage strengths —10.5 mg and 21 mg— for patients concomitantly taking strong or moderate CYP3A4 inhibitors and 21 mg for patients with moderate or severe hepatic impairment.
Intra-Cellular is evaluating Caplyta in several other indications. Caplyta is currently being evaluated in three phase III studies evaluating the drug as a treatment for major depressive disorder (MDD) — for treating major depressive episodes associated with bipolar I or bipolar II disorder and for relapse prevention in schizophrenic patients. A potential approval in the near future is anticipated to boost Intra-Cellular’s top line.
Other Pipeline Candidates Hold Potential
Intra-Cellular also has two other pipeline candidates in the early-stage study. Lenrispodun (ITI-214) is being developed for Parkinson’s disease and ITI-333 is being developed as a potential treatment for substance use disorders, pain and psychiatric comorbidities, including depression and anxiety.
Conclusion
Intra-Cellular’s high dependence on just Caplyta sales for revenues is a concern. It needs a growth opportunity apart from Caplyta. The company’s other pipeline candidates are several years away from commercialization,
Nonetheless, a consistent rise in Caplyta sales, successful label expansion of the drug, and minimal competition in its target market is likely to keep the stock afloat in the long term.
IntraCellular Therapies Inc. Price
IntraCellular Therapies Inc. price | IntraCellular Therapies Inc. Quote
Stocks to Consider
Some similar-ranked stocks worth considering in the same sector include BioMarin Pharmaceuticals (BMRN - Free Report) , Denali Therapeutics (DNLI - Free Report) and Incyte (INCY - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
BioMarin’s earnings per share estimates for 2022 are down by a cent at $1.98 in the past 30 days. The same for 2023 has improved by a cent from $3.80 to $3.81 in the same time frame.
Earnings of Immunocore missed estimates in three of the trailing four quarters while beating the same in the reaming occasion. The average earnings surprise for IMCR is 33.28%.
Denali’s loss per share estimates for 2022 have remained steady at $2.68 over the past 30 days. The loss per share for 2023 has also remained steady at $2.92 in the same time frame.
Earnings of Denali beat estimates in one of the trailing four quarters, while missing the same on the remaining three occasions. The average negative earnings surprise for DNLI is 22.90%.
Incyte’s earnings estimates for 2022 have remained steady at $3.12 over the past 30 days. The earnings estimate for 2023 also remained steady at $4.23 per share in the same time frame.
INCY surpassed earnings in two of the trailing four quarters, missing the same in the remaining two occasions. The average negative earnings surprise for Incyte is 2.13%.