Intra-Cellular Therapies (NASDAQ:ITCI) Shares Gap Up to $72.42

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)’s share price gapped up prior to trading on Friday . The stock had previously closed at $72.42, but opened at $74.89. Intra-Cellular Therapies shares last traded at $75.98, with a volume of 62,214 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently commented on ITCI. Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $68.00 to $92.00 in a report on Friday. Mizuho lifted their price objective on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. lifted their price objective on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. The Goldman Sachs Group lowered their price objective on shares of 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. Finally, Royal Bank of Canada decreased their target price on shares of Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.58.

Intra-Cellular Therapies Stock Performance

The firm’s 50-day moving average is $75.08 and its 200 day moving average is $71.16. The firm has a market capitalization of $7.76 billion, a PE ratio of -63.40 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.03. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The business had revenue of $161.40 million for the quarter, compared to analyst estimates of $157.74 million. During the same period in the previous year, the firm earned ($0.45) EPS. The business’s revenue for the quarter was up 45.7% compared to the same quarter last year. As a group, equities analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.59 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Sharon Mates sold 53,013 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total value of $4,010,433.45. Following the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $80,970,388.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sharon Mates sold 53,013 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total value of $4,010,433.45. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $80,970,388.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nostrand Robert L. Van sold 20,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the completion of the transaction, the director now directly owns 9,690 shares of the company’s stock, valued at approximately $735,567.90. The disclosure for this sale can be found here. Insiders have sold 199,778 shares of company stock worth $14,892,738 in the last three months. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda acquired a new position in shares of Intra-Cellular Therapies during the 4th quarter valued at about $26,000. Headlands Technologies LLC acquired a new position in shares of Intra-Cellular Therapies during the 1st quarter valued at about $32,000. Fidelis Capital Partners LLC acquired a new position in shares of Intra-Cellular Therapies during the 1st quarter valued at about $53,000. Summit Securities Group LLC acquired a new position in shares of Intra-Cellular Therapies during the 2nd quarter valued at about $56,000. Finally, Cape Investment Advisory Inc. acquired a new position in shares of Intra-Cellular Therapies during the 4th quarter valued at about $78,000. Institutional investors and hedge funds own 92.33% of the company’s stock.

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.