Intra-Cellular Therapies (NASDAQ:ITCI) Hits New 52-Week High Following Analyst Upgrade

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)’s stock price hit a new 52-week high during trading 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 traded. The stock had previously closed at $86.17.

A number of other research firms also recently commented on ITCI. The Goldman Sachs Group decreased their target price on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Piper Sandler upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Morgan Stanley increased their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Finally, UBS Group reduced their price target on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.23.

Insider Buying and Selling

In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at approximately $2,229,876. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 175,316 shares of company stock worth $13,037,345. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of large investors have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new stake in shares of Intra-Cellular Therapies during the 1st quarter worth $32,000. Fidelis Capital Partners LLC acquired a new stake in Intra-Cellular Therapies during the first quarter worth about $53,000. Summit Securities Group LLC purchased a new position in shares of Intra-Cellular Therapies in the 2nd quarter worth about $56,000. Capital Performance Advisors LLP acquired a new position in shares of Intra-Cellular Therapies in the 3rd quarter valued at about $74,000. Finally, CWM LLC lifted its stake in shares of 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 purchasing an additional 626 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 stock has a fifty day moving average price of $75.72 and a 200-day moving average price of $73.42. The firm has a market cap of $9.46 billion, a PE ratio of -102.57 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $172.30 million. During the same quarter in the previous year, the business posted ($0.25) EPS. The company’s quarterly revenue was up 39.0% on a year-over-year basis. As a group, equities analysts predict that Intra-Cellular Therapies, Inc. will post -0.61 earnings per share for the current fiscal year.

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.