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

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have earned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $94.33.

Several research firms recently commented on ITCI. UBS Group reaffirmed a “neutral” rating and issued a $83.00 price target (down previously from $85.00) on shares of Intra-Cellular Therapies in a report on Tuesday. Canaccord Genuity Group increased their price target on Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, June 20th. TD Cowen raised their target price on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. raised their target price on Intra-Cellular Therapies from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $103.00 target price on shares of Intra-Cellular Therapies in a research note on Tuesday.

Intra-Cellular Therapies Price Performance

NASDAQ ITCI opened at $70.98 on Friday. The company has a market cap of $7.49 billion, a PE ratio of -61.19 and a beta of 0.97. The stock’s 50 day simple moving average is $69.47 and its 200-day simple moving average is $68.96. Intra-Cellular Therapies has a 1-year low of $45.50 and a 1-year high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.15. The business had revenue of $144.90 million for the quarter, compared to the consensus estimate of $141.41 million. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The business’s quarterly revenue was up 52.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.46) earnings per share. On average, equities research analysts anticipate that Intra-Cellular Therapies will post -0.51 EPS for the current fiscal year.

Insider Activity

In related news, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction on Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the completion of the transaction, the director now directly owns 116,600 shares in the company, valued at $8,811,462. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction on Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the completion of the transaction, the director now directly owns 116,600 shares in the company, valued at $8,811,462. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Nostrand Robert L. Van sold 20,000 shares of Intra-Cellular Therapies stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $75.91, for a total value of $1,518,200.00. Following the completion of the transaction, the director now owns 9,690 shares of the company’s stock, valued at $735,567.90. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

A number of institutional investors have recently bought and sold shares of ITCI. Avoro Capital Advisors LLC purchased a new stake in Intra-Cellular Therapies during the 4th quarter worth about $161,543,000. Norges Bank purchased a new stake in Intra-Cellular Therapies during the 4th quarter worth about $85,744,000. Polar Capital Holdings Plc lifted its holdings in Intra-Cellular Therapies by 150.0% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $52,090,000 after buying an additional 600,000 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Intra-Cellular Therapies by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock worth $651,334,000 after buying an additional 554,577 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in Intra-Cellular Therapies by 84.4% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 885,000 shares of the biopharmaceutical company’s stock worth $46,100,000 after buying an additional 405,000 shares during the last quarter. 92.33% of the stock is owned by hedge funds and other institutional investors.

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.