Intra-Cellular Therapies (ITCI Quick QuoteITCI - Free Report) shares ended the last trading session 9.8% higher at $42.66. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 24.7% loss over the past four weeks.

The surge in share price is most likely attributable to data reported by IQVIA which suggested that the company’s antipsychotic drug, Caplyta, has seen signs of growth in sales following label expansion in bipolar depression indication.

This biopharmaceutical company is expected to post quarterly loss of $1.05 per share in its upcoming report, which represents a year-over-year change of -38.2%. Revenues are expected to be $24.02 million, up 92.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Intra-Cellular, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 >>>>