Intra-Cellular Therapies (NASDAQ:ITCI) Reaches New 12-Month High – What’s Next?

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $97.41 and last traded at $95.93, with a volume of 480957 shares traded. The stock had previously closed at $82.56.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ITCI shares. Morgan Stanley raised their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Royal Bank of Canada raised their price objective 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.23.

Intra-Cellular Therapies Stock Performance

The business’s 50 day moving average is $85.57 and its 200-day moving average is $78.81. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of -109.04 and a beta of 0.70.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The company had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. Intra-Cellular Therapies’s revenue was up 39.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.25) EPS. Sell-side analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ITCI. True Wealth Design LLC acquired a new position in Intra-Cellular Therapies in the third quarter valued at about $32,000. GAMMA Investing LLC lifted its position in Intra-Cellular Therapies by 46.3% in the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 240 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Intra-Cellular Therapies in the third quarter valued at about $74,000. Wilmington Savings Fund Society FSB acquired a new position in Intra-Cellular Therapies in the third quarter valued at about $97,000. Finally, Quarry LP lifted its position in Intra-Cellular Therapies by 260.0% in the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 1,300 shares during the last quarter. Institutional investors and hedge funds 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.