Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $100.31.

Several equities analysts have commented on ITCI shares. Piper Sandler restated a “neutral” rating and issued a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Morgan Stanley boosted their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Cantor Fitzgerald raised Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Needham & Company LLC reiterated a “hold” rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, January 13th. Finally, Baird R W lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th.

Intra-Cellular Therapies Price Performance

Shares of Intra-Cellular Therapies stock opened at $126.20 on Tuesday. The stock has a market capitalization of $13.38 billion, a price-to-earnings ratio of -145.06 and a beta of 0.70. The business has a 50-day moving average of $89.30 and a 200 day moving average of $80.81. Intra-Cellular Therapies has a 12 month low of $62.78 and a 12 month high of $128.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS 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 business had revenue of $175.40 million during the quarter, compared to analysts’ expectations of $172.30 million. During the same period in the previous year, the business posted ($0.25) EPS. The company’s revenue for the quarter was up 39.0% compared to the same quarter last year. Equities research analysts anticipate that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Insider Activity

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sharon Mates sold 51,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the sale, the chief executive officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP increased its stake in Intra-Cellular Therapies by 3.5% in the third quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company’s stock valued at $281,601,000 after purchasing an additional 130,351 shares during the period. Avoro Capital Advisors LLC increased its position in Intra-Cellular Therapies by 21.2% in the 2nd quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock valued at $205,470,000 after acquiring an additional 525,000 shares during the period. Bellevue Group AG raised its stake in Intra-Cellular Therapies by 0.6% during the 3rd quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company’s stock valued at $181,873,000 after acquiring an additional 14,342 shares during the last quarter. State Street Corp lifted its position in Intra-Cellular Therapies by 3.1% during the 3rd quarter. State Street Corp now owns 1,858,915 shares of the biopharmaceutical company’s stock worth $136,017,000 after acquiring an additional 56,664 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Intra-Cellular Therapies by 9.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company’s stock valued at $129,463,000 after purchasing an additional 155,655 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

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.