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

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

A number of research analysts recently weighed in on ITCI shares. Royal Bank of Canada raised their price target on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their target price for the company from $68.00 to $92.00 in a report on Friday, September 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. JPMorgan Chase & Co. boosted their price objective on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Morgan Stanley raised their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, October 11th.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ ITCI opened at $84.14 on Friday. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of -96.71 and a beta of 0.95. Intra-Cellular Therapies has a fifty-two week low of $62.78 and a fifty-two week high of $93.45. The firm’s 50-day simple moving average is $83.49 and its 200 day simple moving average is $77.23.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The company had revenue of $175.40 million for the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The company’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.25) EPS. On average, sell-side analysts predict that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insider Transactions at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Michael Halstead sold 22,869 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Hedge funds have recently made changes to their positions in the business. Avior Wealth Management LLC raised its position in Intra-Cellular Therapies by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company’s stock worth $327,000 after purchasing an additional 131 shares during the period. EFG Asset Management North America Corp. grew its stake in shares of Intra-Cellular Therapies by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 34,452 shares of the biopharmaceutical company’s stock valued at $2,357,000 after buying an additional 163 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Intra-Cellular Therapies by 9.1% in the third quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 207 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of Intra-Cellular Therapies by 0.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 35,673 shares of the biopharmaceutical company’s stock worth $2,610,000 after buying an additional 223 shares during the period. Finally, US Bancorp DE lifted its stake in shares of Intra-Cellular Therapies by 3.3% in the 3rd quarter. US Bancorp DE now owns 7,951 shares of the biopharmaceutical company’s stock valued at $582,000 after acquiring an additional 251 shares during the last quarter. 92.33% of the stock is currently owned by institutional investors.

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.