Intra-Cellular Therapies (NASDAQ:ITCI) Reaches New 52-Week High – Should You Buy?

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $131.67 and last traded at $131.66, with a volume of 1836929 shares changing hands. The stock had previously closed at $131.60.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ITCI. Baird R W downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Piper Sandler reiterated a “neutral” rating and set a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Needham & Company LLC reissued a “hold” rating on shares of Intra-Cellular Therapies in a report on Friday, February 21st. StockNews.com started coverage on Intra-Cellular Therapies in a research note on Thursday, March 20th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $132.00 target price (up from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.08.

Intra-Cellular Therapies Stock Performance

The stock has a market cap of $14.00 billion, a PE ratio of -151.38 and a beta of 0.69. The business has a 50-day moving average of $128.79 and a 200 day moving average of $98.59.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.08). The firm had revenue of $199.22 million for the quarter, compared to analysts’ expectations of $205.08 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. Equities analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Intra-Cellular Therapies

Institutional investors have recently added to or reduced their stakes in the business. M&T Bank Corp raised its position in shares of Intra-Cellular Therapies by 2.2% in the 4th quarter. M&T Bank Corp now owns 6,301 shares of the biopharmaceutical company’s stock worth $526,000 after buying an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Intra-Cellular Therapies by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company’s stock valued at $748,000 after purchasing an additional 141 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Intra-Cellular Therapies by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 2,956 shares of the biopharmaceutical company’s stock worth $247,000 after purchasing an additional 150 shares during the period. Pallas Capital Advisors LLC increased its position in Intra-Cellular Therapies by 6.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock worth $266,000 after purchasing an additional 192 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Intra-Cellular Therapies by 0.8% in the fourth quarter. Arizona State Retirement System now owns 27,565 shares of the biopharmaceutical company’s stock valued at $2,302,000 after buying an additional 206 shares during the period. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Intra-Cellular Therapies Company Profile

Intra-Cellular Therapies, Inc, a biopharmaceutical company, focuses on the discovery, clinical development, and commercialization of small molecule drugs that address medical needs primarily in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms in the central nervous system (CNS) in the United States.