Intra-Cellular Ther Down 0.13% To $58.78 After Earnings Miss

Intra-Cellular Ther (ITCI) said before open Tuesday that it lost $0.92 per share in quarter two 2022.

On the revenue line, the company reported $55.6 million, beating estimates by $6.6 million.

In the same quarter a year ago, the company lost $0.85 per share on revenue of $20 million.

The stock is down 0.13% to $58.78 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Intra-Cellular Ther a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 65. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Intra-Cellular Therapies Inc is a biopharmaceutical company that develops novel drugs for treating diseases of the central nervous system. The company is focused on the delivery and clinical development of small-molecule drugs that address needs in neuropsychiatric and neurological disorders. Intra-Cellular maintains proprietary chemistry platforms to develop drugs for neurodegenerative diseases. The company's business segment is discovering and developing drugs for the treatment of neurological and psychiatric disorders.