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Intra-Cellular (ITCI) Surges 16.4%: Is This an Indication of Further Gains?
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Intra-Cellular Therapies (ITCI - Free Report) shares soared 16.4% in the last trading session to close at $55.73. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.4% loss over the past four weeks.
The sudden soaring of stock price can be attributed to the positive topline data reported by the company from its phase III study of lumateperone. The candiate is being evaluated as a monotherapy for the treatment of major depressive episodes in patients with major depressive disorder with mixed features and patients with bipolar depression with mixed features. The study met both its primary endpoint and key secondary endpoint with statistical significance. Intra-Cellular is planning to hold discussions with the FDA to navigate its step forward.
This biopharmaceutical company is expected to post quarterly loss of $0.64 per share in its upcoming report, which represents a year-over-year change of +18%. Revenues are expected to be $91.32 million, up 160.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Intra-Cellular, the consensus EPS estimate for the quarter has been revised 2.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ITCI going forward to see if this recent jump can turn into more strength down the road.
Intra-Cellular belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Revance Therapeutics, Inc. (RVNC - Free Report) , closed the last trading session 4% lower at $31.39. Over the past month, RVNC has returned -6.9%.
Revance Therapeutics, Inc.'s consensus EPS estimate for the upcoming report has changed +0.9% over the past month to -$0.76. Compared to the company's year-ago EPS, this represents a change of +19.2%. Revance Therapeutics, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Intra-Cellular (ITCI) Surges 16.4%: Is This an Indication of Further Gains?
Intra-Cellular Therapies (ITCI - Free Report) shares soared 16.4% in the last trading session to close at $55.73. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.4% loss over the past four weeks.
The sudden soaring of stock price can be attributed to the positive topline data reported by the company from its phase III study of lumateperone. The candiate is being evaluated as a monotherapy for the treatment of major depressive episodes in patients with major depressive disorder with mixed features and patients with bipolar depression with mixed features. The study met both its primary endpoint and key secondary endpoint with statistical significance. Intra-Cellular is planning to hold discussions with the FDA to navigate its step forward.
This biopharmaceutical company is expected to post quarterly loss of $0.64 per share in its upcoming report, which represents a year-over-year change of +18%. Revenues are expected to be $91.32 million, up 160.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Intra-Cellular, the consensus EPS estimate for the quarter has been revised 2.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ITCI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Intra-Cellular belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Revance Therapeutics, Inc. (RVNC - Free Report) , closed the last trading session 4% lower at $31.39. Over the past month, RVNC has returned -6.9%.
Revance Therapeutics, Inc.'s consensus EPS estimate for the upcoming report has changed +0.9% over the past month to -$0.76. Compared to the company's year-ago EPS, this represents a change of +19.2%. Revance Therapeutics, Inc. currently boasts a Zacks Rank of #3 (Hold).