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

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $97.23.

Several equities research analysts have weighed in on the stock. Piper Sandler upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $68.00 to $92.00 in a report on Friday, September 6th. Morgan Stanley raised their price objective on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. UBS Group decreased their target price on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada raised 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, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th.

Insider Transactions at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 40,513 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $73.58, for a total transaction of $2,980,946.54. Following the completion of the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $78,754,807.82. This represents a 3.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Michael Halstead sold 22,869 shares of the stock in a transaction that occurred on 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. In the last 90 days, insiders sold 97,778 shares of company stock valued at $7,524,436. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. True Wealth Design LLC bought a new stake in Intra-Cellular Therapies during the 3rd quarter worth $32,000. Summit Securities Group LLC bought a new stake in shares of Intra-Cellular Therapies during the second quarter worth about $56,000. Capital Performance Advisors LLP acquired a new position in shares of Intra-Cellular Therapies in the third quarter valued at approximately $74,000. CWM LLC raised its holdings in Intra-Cellular Therapies by 83.9% in the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 626 shares during the last quarter. Finally, Quarry LP boosted its position in Intra-Cellular Therapies by 260.0% during the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 1,300 shares during the period. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Intra-Cellular Therapies Stock Up 0.3 %

ITCI stock opened at $85.69 on Monday. Intra-Cellular Therapies has a twelve month low of $58.14 and a twelve month high of $93.45. The company has a market cap of $9.08 billion, a P/E ratio of -98.49 and a beta of 0.97. The business’s fifty day moving average is $79.25 and its 200-day moving average is $74.78.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate 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%. The company’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.25) EPS. Research analysts anticipate that Intra-Cellular Therapies will post -0.64 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.