Intra-Cellular Therapies (NASDAQ:ITCI) Reaches New 52-Week High – Here’s Why

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) reached a new 52-week high on Thursday . The stock traded as high as $128.03 and last traded at $128.02, with a volume of 240208 shares trading hands. The stock had previously closed at $127.97.

Analyst Ratings Changes

ITCI has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $132.00 price objective (up previously from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. 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. Canaccord Genuity Group downgraded shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and raised their price objective for the stock from $119.00 to $132.00 in a report on Friday, January 31st. Finally, Baird R W cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.62.

Intra-Cellular Therapies Trading Down 0.2 %

The company has a market cap of $13.59 billion, a PE ratio of -146.92 and a beta of 0.72. The business’s 50 day moving average is $105.80 and its two-hundred day moving average is $87.90.

Insider Activity

In related news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Intra-Cellular Therapies by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 9,721,360 shares of the biopharmaceutical company’s stock worth $811,928,000 after buying an additional 93,107 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of Intra-Cellular Therapies by 3.5% during the 3rd quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company’s stock worth $281,601,000 after acquiring an additional 130,351 shares in the last quarter. Norges Bank bought a new stake in Intra-Cellular Therapies in the fourth quarter worth $268,347,000. Invesco Ltd. increased its position in Intra-Cellular Therapies by 2.9% in the fourth quarter. Invesco Ltd. now owns 3,077,174 shares of the biopharmaceutical company’s stock worth $257,006,000 after purchasing an additional 87,582 shares during the last quarter. Finally, Bellevue Group AG raised its stake in Intra-Cellular Therapies by 0.6% during the third quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company’s stock valued at $181,873,000 after purchasing an additional 14,342 shares in 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.