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

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $97.23.

Several research analysts have commented on the company. Royal Bank of Canada raised their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Morgan Stanley boosted their price target on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Needham & Company LLC reissued a “hold” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price target on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 4th.

Intra-Cellular Therapies Price Performance

Shares of NASDAQ:ITCI opened at $127.19 on Tuesday. The firm has a market capitalization of $13.48 billion, a PE ratio of -146.19 and a beta of 0.70. Intra-Cellular Therapies has a 12 month low of $62.78 and a 12 month high of $128.00. The business has a 50-day moving average of $86.39 and a two-hundred day moving average of $79.26.

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, research analysts anticipate that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Insider Transactions at Intra-Cellular Therapies

In related news, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sharon Mates sold 51,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. grew its position in Intra-Cellular Therapies by 7.4% in the 2nd quarter. Victory Capital Management Inc. now owns 68,139 shares of the biopharmaceutical company’s stock worth $4,667,000 after purchasing an additional 4,674 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Intra-Cellular Therapies by 1.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 52,499 shares of the biopharmaceutical company’s stock worth $3,714,000 after acquiring an additional 502 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Intra-Cellular Therapies by 21.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 35,492 shares of the biopharmaceutical company’s stock worth $2,431,000 after purchasing an additional 6,382 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Intra-Cellular Therapies by 130.0% during the second quarter. Renaissance Technologies LLC now owns 222,400 shares of the biopharmaceutical company’s stock valued at $15,232,000 after purchasing an additional 125,700 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Intra-Cellular Therapies in the second quarter worth about $1,420,000. Institutional investors own 92.33% of the company’s stock.

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.