Intra-Cellular (ITCI) Soars 9.6%: Is Further Upside Left in the Stock?

Company Overview - Intra-Cellular Therapies (ITCI) shares increased by 9.6% to close at $75.48, with notable trading volume compared to typical sessions, and a 5.4% gain over the past four weeks [1] - The company is expected to report a quarterly loss of $0.20 per share, reflecting a year-over-year change of +55.6%, with anticipated revenues of $157.59 million, up 42.2% from the previous year [2] Earnings Estimates - The consensus EPS estimate for the upcoming quarter has been revised 2.6% lower over the last 30 days, indicating a negative trend in earnings estimate revisions, which typically does not lead to price appreciation [3][6] - The stock currently holds a Zacks Rank of 3 (Hold) [7] Industry Context - Intra-Cellular operates within the Zacks Medical - Biomedical and Genetics industry, where EyePoint Pharmaceuticals (EYPT) closed 3.6% lower at $8.69, with a -25.8% return over the past month [4] - The recent surge in ITCI's stock price followed the announcement of statistically significant results in late-stage studies for lumateperone 42 mg, aimed at treating major depressive disorder (MDD) [5] Future Prospects - The success of both phase III studies forms the basis for a regulatory filing to expand the label of lumateperone as an adjunctive treatment for MDD, with a supplemental new drug application anticipated in the second half of 2024 [5]