Intra-Cellular Therapies (NASDAQ:ITCI) Reaches New 52-Week High at $81.41

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $81.41 and last traded at $81.04, with a volume of 2390811 shares traded. The stock had previously closed at $64.76.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ITCI. Royal Bank of Canada restated an “outperform” rating and issued a $86.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Needham & Company LLC restated a “buy” rating and set a $82.00 price objective on shares of Intra-Cellular Therapies in a research note on Tuesday. Bank of America raised their price objective on Intra-Cellular Therapies from $74.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $101.00 target price on shares of Intra-Cellular Therapies in a research report on Friday, February 23rd. Finally, The Goldman Sachs Group lifted their target price on Intra-Cellular Therapies from $58.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.42.

Intra-Cellular Therapies Stock Performance

The firm has a 50 day simple moving average of $68.95 and a two-hundred day simple moving average of $63.53. The stock has a market cap of $7.88 billion, a P/E ratio of -55.08 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The company had revenue of $132.10 million for the quarter, compared to the consensus estimate of $135.97 million. During the same quarter in the previous year, the business earned ($0.45) EPS. The company’s quarterly revenue was up 50.3% compared to the same quarter last year. As a group, equities research analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Insider Transactions at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 67,917 shares of Intra-Cellular Therapies stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $65.19, for a total value of $4,427,509.23. Following the transaction, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $68,469,643.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sharon Mates sold 67,917 shares of Intra-Cellular Therapies stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $65.19, for a total value of $4,427,509.23. Following the transaction, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $68,469,643.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Suresh K. Durgam sold 6,450 shares of Intra-Cellular Therapies stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value of $429,312.00. Following the transaction, the executive vice president now owns 16,170 shares in the company, valued at approximately $1,076,275.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 236,404 shares of company stock valued at $15,792,460. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Xponance Inc. grew its stake in Intra-Cellular Therapies by 3.0% in the fourth quarter. Xponance Inc. now owns 5,676 shares of the biopharmaceutical company’s stock valued at $407,000 after purchasing an additional 163 shares in the last quarter. Regal Investment Advisors LLC grew its stake in Intra-Cellular Therapies by 1.4% in the third quarter. Regal Investment Advisors LLC now owns 13,610 shares of the biopharmaceutical company’s stock valued at $709,000 after purchasing an additional 186 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in Intra-Cellular Therapies by 0.8% in the third quarter. State Board of Administration of Florida Retirement System now owns 26,796 shares of the biopharmaceutical company’s stock valued at $1,396,000 after purchasing an additional 200 shares in the last quarter. Bailard Inc. grew its stake in Intra-Cellular Therapies by 1.2% in the fourth quarter. Bailard Inc. now owns 17,080 shares of the biopharmaceutical company’s stock valued at $1,223,000 after purchasing an additional 200 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in Intra-Cellular Therapies by 13.8% in the third quarter. Global Retirement Partners LLC now owns 1,753 shares of the biopharmaceutical company’s stock valued at $89,000 after purchasing an additional 213 shares in the last quarter. Hedge funds and other institutional investors 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.