Intra-Cellular Therapies (NASDAQ:ITCI) Stock Price Down 2.7%

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)’s stock price fell 2.7% on Wednesday . The stock traded as low as $76.50 and last traded at $77.66. 193,291 shares traded hands during trading, a decline of 77% from the average session volume of 833,862 shares. The stock had previously closed at $79.84.

Analyst Ratings Changes

Several research firms have weighed in on ITCI. Cantor Fitzgerald reissued an “overweight” rating and set a $101.00 target price on shares of Intra-Cellular Therapies in a research report on Friday, February 23rd. Canaccord Genuity Group dropped their price objective on shares of Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Mizuho upped their price objective on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a “buy” rating in a report on Friday, February 16th. Bank of America upped their price objective on shares of Intra-Cellular Therapies from $74.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Intra-Cellular Therapies in a report on Tuesday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Intra-Cellular Therapies currently has an average rating of “Moderate Buy” and a consensus price target of $81.42.

Intra-Cellular Therapies Stock Performance

The firm’s 50 day moving average is $68.95 and its 200-day moving average is $63.53. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of -56.30 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) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The company had revenue of $132.10 million during the quarter, compared to analysts’ expectations of $135.97 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The firm’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.45) earnings per share. As a group, sell-side analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, EVP Michael Halstead sold 7,907 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.53, for a total transaction of $549,773.71. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at $2,065,041. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Suresh K. Durgam sold 6,450 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value of $429,312.00. Following the completion of the sale, the executive vice president now directly owns 16,170 shares in the company, valued at $1,076,275.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Halstead sold 7,907 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.53, for a total transaction of $549,773.71. Following the completion of the sale, the executive vice president now owns 29,700 shares of the company’s stock, valued at $2,065,041. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 236,404 shares of company stock worth $15,792,460. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Intra-Cellular Therapies by 209.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 154,700 shares of the biopharmaceutical company’s stock valued at $8,058,000 after buying an additional 104,700 shares during the last quarter. Phocas Financial Corp. purchased a new stake in shares of Intra-Cellular Therapies in the fourth quarter valued at about $1,949,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Intra-Cellular Therapies by 36.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 974,914 shares of the biopharmaceutical company’s stock valued at $50,783,000 after purchasing an additional 259,424 shares during the period. American Century Companies Inc. grew its holdings in shares of Intra-Cellular Therapies by 5.1% in the third quarter. American Century Companies Inc. now owns 441,410 shares of the biopharmaceutical company’s stock valued at $22,993,000 after purchasing an additional 21,604 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Intra-Cellular Therapies by 56.4% in the third quarter. Envestnet Asset Management Inc. now owns 126,532 shares of the biopharmaceutical company’s stock valued at $6,591,000 after purchasing an additional 45,616 shares during the period. 92.33% of the stock is currently owned by institutional investors and hedge funds.

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.