Intra-Cellular Therapies (NASDAQ:ITCI) Reaches New 1-Year High – What’s Next?

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $131.35 and last traded at $131.28, with a volume of 7155386 shares changing hands. The stock had previously closed at $128.20.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ITCI. Baird R W cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Canaccord Genuity Group downgraded Intra-Cellular Therapies from a “buy” rating to a “hold” rating and raised their target price for the company from $119.00 to $132.00 in a report on Friday, January 31st. Piper Sandler reissued a “neutral” rating and set a $132.00 price objective (up previously from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday, January 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $132.00 target price (up from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Finally, Leerink Partnrs cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intra-Cellular Therapies presently has an average rating of “Hold” and a consensus price target of $106.08.

Intra-Cellular Therapies Stock Up 2.4 %

The company has a market cap of $13.96 billion, a PE ratio of -150.89 and a beta of 0.72. The stock’s 50 day simple moving average is $115.52 and its two-hundred day simple moving average is $92.12.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The firm had revenue of $199.22 million during the quarter, compared to analyst estimates of $205.08 million. Analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Insider Activity

In other news, CEO Sharon Mates sold 51,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total value 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. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

A number of institutional investors have recently added to or reduced their stakes in ITCI. China Universal Asset Management Co. Ltd. lifted its stake in shares of Intra-Cellular Therapies by 10.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 22,480 shares of the biopharmaceutical company’s stock worth $1,878,000 after purchasing an additional 2,157 shares in the last quarter. Barclays PLC lifted its position in Intra-Cellular Therapies by 282.0% during the 3rd quarter. Barclays PLC now owns 34,453 shares of the biopharmaceutical company’s stock worth $2,521,000 after acquiring an additional 25,435 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Intra-Cellular Therapies by 31.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock worth $33,258,000 after acquiring an additional 109,892 shares during the period. Oak Ridge Investments LLC grew its position in Intra-Cellular Therapies by 74.1% in the fourth quarter. Oak Ridge Investments LLC now owns 19,831 shares of the biopharmaceutical company’s stock valued at $1,656,000 after acquiring an additional 8,440 shares in the last quarter. Finally, Cynosure Group LLC raised its stake in shares of Intra-Cellular Therapies by 161.0% during the third quarter. Cynosure Group LLC now owns 14,442 shares of the biopharmaceutical company’s stock valued at $1,057,000 after purchasing an additional 8,909 shares during the period. 92.33% of the stock is owned by hedge funds and other 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.