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

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have received an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $103.62.

ITCI has been the subject of several recent research reports. 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. Cantor Fitzgerald raised shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Leerink Partnrs cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Morgan Stanley raised their target price on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Canaccord Genuity Group cut shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and raised their target price for the stock from $119.00 to $132.00 in a report on Friday, January 31st.

Intra-Cellular Therapies Trading Down 0.1 %

NASDAQ ITCI opened at $127.01 on Friday. The company has a fifty day simple moving average of $100.72 and a two-hundred day simple moving average of $85.86. The stock has a market cap of $13.47 billion, a P/E ratio of -145.99 and a beta of 0.72. Intra-Cellular Therapies has a 12-month low of $62.78 and a 12-month high of $128.00.

Insider Activity

In other news, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies 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 completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This trade represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC lifted its stake in shares of Intra-Cellular Therapies by 282.0% in the third quarter. Barclays PLC now owns 34,453 shares of the biopharmaceutical company’s stock worth $2,521,000 after buying an additional 25,435 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Intra-Cellular Therapies by 10.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 22,480 shares of the biopharmaceutical company’s stock worth $1,878,000 after buying an additional 2,157 shares in the last quarter. Oak Ridge Investments LLC lifted its stake in shares of Intra-Cellular Therapies by 74.1% in the fourth quarter. Oak Ridge Investments LLC now owns 19,831 shares of the biopharmaceutical company’s stock worth $1,656,000 after buying an additional 8,440 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Intra-Cellular Therapies by 31.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock worth $33,258,000 after buying an additional 109,892 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Intra-Cellular Therapies by 3.3% in the third quarter. Principal Financial Group Inc. now owns 597,713 shares of the biopharmaceutical company’s stock worth $43,735,000 after buying an additional 18,865 shares in the last quarter. 92.33% of the stock is owned by hedge funds and other institutional investors.

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.