Intra-Cellular Therapies (NASDAQ:ITCI) Hits New 1-Year High After Analyst Upgrade

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) hit a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $81.00 to $89.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Intra-Cellular Therapies traded as high as $88.77 and last traded at $88.51, with a volume of 276949 shares. The stock had previously closed at $86.17.

ITCI has been the topic of a number of other reports. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. The Goldman Sachs Group decreased their price objective on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. UBS Group dropped their target price 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. Finally, 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 report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.23.

Insider Activity at Intra-Cellular Therapies

In other news, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were 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 directly owns 29,700 shares in the company, valued at approximately $2,229,876. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Sharon Mates sold 28,680 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.46, for a total value of $2,135,512.80. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $79,696,697.34. 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 company’s stock in a transaction that occurred on Friday, August 16th. The shares were 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 approximately $2,229,876. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 175,316 shares of company stock valued at $13,037,345 in the last three months. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Large investors have recently modified their holdings of the stock. MQS Management LLC purchased a new stake in shares of Intra-Cellular Therapies in the third quarter valued at about $269,000. Aigen Investment Management LP lifted its position in Intra-Cellular Therapies by 91.3% in the third quarter. Aigen Investment Management LP now owns 14,890 shares of the biopharmaceutical company’s stock valued at $1,090,000 after purchasing an additional 7,105 shares during the period. Entropy Technologies LP purchased a new stake in Intra-Cellular Therapies in the 3rd quarter valued at approximately $521,000. Versor Investments LP acquired a new position in Intra-Cellular Therapies during the 3rd quarter worth approximately $257,000. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Intra-Cellular Therapies by 0.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 35,673 shares of the biopharmaceutical company’s stock worth $2,610,000 after buying an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Performance

The firm has a market capitalization of $9.46 billion, a price-to-earnings ratio of -102.57 and a beta of 0.97. The firm has a fifty day moving average price of $75.72 and a 200 day moving average price of $73.42.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The business 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%. During the same period last year, the business posted ($0.25) EPS. Intra-Cellular Therapies’s revenue was up 39.0% compared to the same quarter last year. Research analysts predict that Intra-Cellular Therapies, Inc. will post -0.61 earnings per share for the current fiscal year.

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.