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

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have received an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $96.62.

A number of equities research analysts recently weighed in on ITCI shares. UBS Group lowered their price target on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their target price for the company from $68.00 to $92.00 in a report on Friday, September 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 target price on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Finally, Morgan Stanley increased their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 11th.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at $2,229,876. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Sharon Mates sold 53,013 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total value of $4,010,433.45. Following the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $80,970,388.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Neumann sold 18,714 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at $2,229,876. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 175,316 shares of company stock valued at $13,037,345 in the last quarter. 3.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Intra-Cellular Therapies by 1.4% in the first quarter. Vanguard Group Inc. now owns 9,225,981 shares of the biopharmaceutical company’s stock valued at $638,438,000 after purchasing an additional 131,679 shares during the period. Avoro Capital Advisors LLC raised its position in Intra-Cellular Therapies by 21.2% in the second quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock valued at $205,470,000 after purchasing an additional 525,000 shares during the period. Clearbridge Investments LLC raised its position in Intra-Cellular Therapies by 12.3% in the first quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock valued at $120,723,000 after purchasing an additional 191,416 shares during the period. Perceptive Advisors LLC raised its position in Intra-Cellular Therapies by 62.6% in the second quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock valued at $117,557,000 after purchasing an additional 661,052 shares during the period. Finally, Millennium Management LLC raised its position in Intra-Cellular Therapies by 214.5% in the second quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock valued at $60,895,000 after purchasing an additional 606,358 shares during the period. 92.33% of the stock is owned by hedge funds and other institutional investors.

Intra-Cellular Therapies Price Performance

ITCI opened at $85.47 on Thursday. The stock has a market cap of $9.02 billion, a P/E ratio of -73.68 and a beta of 1.00. The stock’s 50 day simple moving average is $74.53 and its 200 day simple moving average is $72.96. Intra-Cellular Therapies has a 1-year low of $46.10 and a 1-year high of $88.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. The business had revenue of $161.40 million for the quarter, compared to analysts’ expectations of $157.74 million. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The company’s revenue was up 45.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.45) EPS. Research analysts expect that Intra-Cellular Therapies will post -0.6 EPS for the current fiscal 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.