Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have received a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $96.75.

A number of research firms recently weighed in on ITCI. Royal Bank of Canada upped 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. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, August 7th. The Goldman Sachs Group dropped their target price on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group lifted their price target on Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, Mizuho increased their price objective on Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a report on Friday, June 21st.

Insider Activity

In related news, CEO Sharon Mates sold 34,396 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at $77,962,764.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sharon Mates sold 34,396 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $77,962,764.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mark Neumann sold 18,714 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the sale, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,229,876. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 175,316 shares of company stock valued at $13,037,345 in the last ninety days. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Intra-Cellular Therapies

Several hedge funds have recently made changes to their positions in ITCI. EFG Asset Management North America Corp. raised its holdings in Intra-Cellular Therapies by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 34,452 shares of the biopharmaceutical company’s stock worth $2,357,000 after purchasing an additional 163 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Intra-Cellular Therapies in the 4th quarter valued at approximately $26,000. Lisanti Capital Growth LLC boosted its stake in shares of Intra-Cellular Therapies by 0.8% in the first quarter. Lisanti Capital Growth LLC now owns 53,285 shares of the biopharmaceutical company’s stock valued at $3,687,000 after buying an additional 400 shares in the last quarter. Tidal Investments LLC grew its holdings in Intra-Cellular Therapies by 13.9% during the first quarter. Tidal Investments LLC now owns 3,698 shares of the biopharmaceutical company’s stock worth $256,000 after acquiring an additional 450 shares during the period. Finally, Headlands Technologies LLC purchased a new position in Intra-Cellular Therapies in the first quarter worth $32,000. Institutional investors and hedge funds own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Performance

Shares of ITCI opened at $72.89 on Friday. The company’s 50-day simple moving average is $74.85 and its 200-day simple moving average is $72.04. Intra-Cellular Therapies has a 1 year low of $45.50 and a 1 year high of $84.89. The stock has a market capitalization of $7.70 billion, a PE ratio of -62.84 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.03. The company had revenue of $161.40 million during the quarter, compared to analysts’ expectations of $157.74 million. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The firm’s revenue was up 45.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.45) EPS. On average, sell-side analysts predict that Intra-Cellular Therapies will post -0.59 earnings per share for the current year.

About Intra-Cellular Therapies

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.