Intra-Cellular Therapies (NASDAQ:ITCI) Hits New 12-Month High at $81.41

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $81.41 and last traded at $81.04, with a volume of 2390811 shares traded. The stock had previously closed at $64.76.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Mizuho raised their price target on Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a “buy” rating in a report on Friday, February 16th. Needham & Company LLC restated a “buy” rating and set a $82.00 price target on shares of Intra-Cellular Therapies in a report on Tuesday. TD Cowen raised their price target on Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $86.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Finally, Canaccord Genuity Group cut their price target on Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.17.

Intra-Cellular Therapies Trading Down 3.9 %

The firm has a market capitalization of $7.42 billion, a P/E ratio of -52.53 and a beta of 1.02. The firm has a 50 day moving average price of $69.14 and a 200-day moving average price of $63.73.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The firm had revenue of $132.10 million during the quarter, compared to analyst estimates of $135.97 million. During the same period last year, the company earned ($0.45) EPS. Intra-Cellular Therapies’s quarterly revenue was up 50.3% compared to the same quarter last year. Research analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Joel S. Marcus sold 26,328 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the completion of the sale, the director now directly owns 39,662 shares of the company’s stock, valued at approximately $2,723,986.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Joel S. Marcus sold 26,328 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the completion of the sale, the director now directly owns 39,662 shares of the company’s stock, valued at approximately $2,723,986.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Suresh K. Durgam sold 6,450 shares of Intra-Cellular Therapies stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value of $429,312.00. Following the sale, the executive vice president now directly owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The disclosure for this sale can be found here. In the last three months, insiders sold 168,487 shares of company stock valued at $11,364,950. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Institutional investors and hedge funds have recently bought and sold shares of the company. HealthInvest Partners AB bought a new stake in Intra-Cellular Therapies during the 4th quarter valued at $877,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Intra-Cellular Therapies by 209.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 154,700 shares of the biopharmaceutical company’s stock valued at $8,058,000 after acquiring an additional 104,700 shares during the period. Phocas Financial Corp. purchased a new position in shares of Intra-Cellular Therapies in the 4th quarter valued at $1,949,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Intra-Cellular Therapies by 36.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,914 shares of the biopharmaceutical company’s stock valued at $50,783,000 after acquiring an additional 259,424 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Intra-Cellular Therapies by 5.1% in the 3rd quarter. American Century Companies Inc. now owns 441,410 shares of the biopharmaceutical company’s stock valued at $22,993,000 after acquiring an additional 21,604 shares during the period. 92.33% of the stock is owned by institutional investors.

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.