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

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $97.23.

Several brokerages recently commented on ITCI. Morgan Stanley lifted 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 note on Friday, October 11th. JPMorgan Chase & Co. boosted their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Needham & Company LLC reissued a “hold” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Monday. Royal Bank of Canada lifted their price target on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a report on Monday, September 16th.

Intra-Cellular Therapies Stock Performance

NASDAQ:ITCI opened at $127.19 on Tuesday. Intra-Cellular Therapies has a 1 year low of $62.78 and a 1 year high of $128.00. The stock has a market cap of $13.48 billion, a P/E ratio of -146.19 and a beta of 0.70. The stock has a 50-day simple moving average of $86.39 and a 200-day simple moving average of $79.26.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced 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). 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 analyst estimates of $172.30 million. During the same period last year, the company earned ($0.25) earnings per share. The business’s revenue for the quarter was up 39.0% compared to the same quarter last year. On average, equities research analysts predict that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insider Transactions at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the company’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 directly 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 filing with the SEC, which can be accessed through this link. Also, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. 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 modified their holdings of the business. Wasatch Advisors LP increased its position in 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 purchasing an additional 130,351 shares in the last quarter. Avoro Capital Advisors LLC grew its holdings in shares of Intra-Cellular Therapies by 21.2% during the second quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock worth $205,470,000 after buying an additional 525,000 shares in the last quarter. Bellevue Group AG lifted its stake in shares of 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 buying an additional 14,342 shares during the period. State Street Corp boosted its position in Intra-Cellular Therapies by 3.1% during the third 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 last quarter. Finally, Franklin Resources Inc. grew its stake in 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 worth $129,463,000 after acquiring an additional 155,655 shares during the period. Hedge funds and other institutional investors own 92.33% of the company’s stock.

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.