Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Short Interest Up 8.0% in December

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 1,880,000 shares, an increase of 8.0% from the November 30th total of 1,740,000 shares. Based on an average trading volume of 549,000 shares, the short-interest ratio is presently 3.4 days.

Analysts Set New Price Targets

Several brokerages recently weighed in on ITCI. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Royal Bank of Canada lifted their target price on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Finally, Morgan Stanley lifted their price objective on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Intra-Cellular Therapies presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.23.

Intra-Cellular Therapies Trading Up 0.0 %

Shares of ITCI stock opened at $83.52 on Thursday. The company’s fifty day simple moving average is $84.94 and its 200-day simple moving average is $78.30. Intra-Cellular Therapies has a 52 week low of $62.78 and a 52 week high of $93.45. The company has a market cap of $8.85 billion, a PE ratio of -96.00 and a beta of 0.95.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The firm had revenue of $175.40 million during the quarter, compared to analysts’ expectations of $172.30 million. During the same quarter last year, the company posted ($0.25) earnings per share. Intra-Cellular Therapies’s revenue for the quarter was up 39.0% compared to the same quarter last year. Equities research analysts expect that Intra-Cellular Therapies will post -0.64 EPS for the current fiscal year.

Insider Activity

In other news, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. The trade was a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

A number of hedge funds and other institutional investors have recently modified their holdings of ITCI. Avior Wealth Management LLC grew its stake in Intra-Cellular Therapies by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company’s stock valued at $327,000 after purchasing an additional 131 shares in the last quarter. Assetmark Inc. grew its position in shares of Intra-Cellular Therapies by 9.1% during the third quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 207 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Intra-Cellular Therapies by 0.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 35,673 shares of the biopharmaceutical company’s stock worth $2,610,000 after buying an additional 223 shares during the last quarter. US Bancorp DE raised its holdings in Intra-Cellular Therapies by 3.3% in the third quarter. US Bancorp DE now owns 7,951 shares of the biopharmaceutical company’s stock valued at $582,000 after acquiring an additional 251 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Intra-Cellular Therapies by 1.3% in the third quarter. The Manufacturers Life Insurance Company now owns 22,057 shares of the biopharmaceutical company’s stock valued at $1,614,000 after acquiring an additional 283 shares in the last quarter. 92.33% of the stock is owned by hedge funds and other 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.