We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Intra-Cellular (ITCI) Soars 9.6%: Is Further Upside Left in the Stock?
Read MoreHide Full Article
Intra-Cellular Therapies (ITCI - Free Report) shares rallied 9.6% in the last trading session to close at $75.48. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.4% gain over the past four weeks.
The sudden soaring of the stock price was observed after the company announced achieving statistically significant and clinically meaningful results in both the primary and the key secondary endpoints of the second late-stage study evaluating lumateperone 42 mg for the treatment of major depressive disorder (MDD). Intra-Cellular earlier reported the success of its first late-stage MDD study evaluating lumateperone 42 mg that also achieved statistically significant and clinically meaningful results in the same primary and the key secondary endpoints. Per the company, the success of both the phase III studies, Study 501 and Study 502, forms the basis for a regulatory filing seeking the label expansion of lumateperone as an adjunctive treatment of MDD. Intra-Cellular anticipates the submission of a supplemental new drug application for lumateperone in the United States to treat the MDD indication in the second half of 2024.
This biopharmaceutical company is expected to post quarterly loss of $0.20 per share in its upcoming report, which represents a year-over-year change of +55.6%. Revenues are expected to be $157.59 million, up 42.2% 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 2.6% 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 is part of the Zacks Medical - Biomedical and Genetics industry. EyePoint Pharmaceuticals (EYPT - Free Report) , another stock in the same industry, closed the last trading session 3.6% lower at $8.69. EYPT has returned -25.8% in the past month.
EyePoint Pharmaceuticals' consensus EPS estimate for the upcoming report has changed -7.4% over the past month to -$0.55. Compared to the company's year-ago EPS, this represents a change of +9.8%. EyePoint Pharmaceuticals currently boasts a Zacks Rank of #4 (Sell).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Intra-Cellular (ITCI) Soars 9.6%: Is Further Upside Left in the Stock?
Intra-Cellular Therapies (ITCI - Free Report) shares rallied 9.6% in the last trading session to close at $75.48. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.4% gain over the past four weeks.
The sudden soaring of the stock price was observed after the company announced achieving statistically significant and clinically meaningful results in both the primary and the key secondary endpoints of the second late-stage study evaluating lumateperone 42 mg for the treatment of major depressive disorder (MDD). Intra-Cellular earlier reported the success of its first late-stage MDD study evaluating lumateperone 42 mg that also achieved statistically significant and clinically meaningful results in the same primary and the key secondary endpoints. Per the company, the success of both the phase III studies, Study 501 and Study 502, forms the basis for a regulatory filing seeking the label expansion of lumateperone as an adjunctive treatment of MDD. Intra-Cellular anticipates the submission of a supplemental new drug application for lumateperone in the United States to treat the MDD indication in the second half of 2024.
This biopharmaceutical company is expected to post quarterly loss of $0.20 per share in its upcoming report, which represents a year-over-year change of +55.6%. Revenues are expected to be $157.59 million, up 42.2% 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 2.6% 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 is part of the Zacks Medical - Biomedical and Genetics industry. EyePoint Pharmaceuticals (EYPT - Free Report) , another stock in the same industry, closed the last trading session 3.6% lower at $8.69. EYPT has returned -25.8% in the past month.
EyePoint Pharmaceuticals' consensus EPS estimate for the upcoming report has changed -7.4% over the past month to -$0.55. Compared to the company's year-ago EPS, this represents a change of +9.8%. EyePoint Pharmaceuticals currently boasts a Zacks Rank of #4 (Sell).