Intra-Cellular Therapies (NASDAQ:ITCI) Upgraded at Cantor Fitzgerald

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) was upgraded by equities researchers at Cantor Fitzgerald from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research firms also recently issued reports on ITCI. Piper Sandler reaffirmed a "neutral" rating and issued a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday. Baird R W downgraded Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a research note on Monday. Royal Bank of Canada upped their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. JPMorgan Chase & Co. raised their target price on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Finally, Morgan Stanley upped their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $100.31.

Intra-Cellular Therapies Price Performance

Shares of ITCI traded down $0.11 during mid-day trading on Tuesday, hitting $126.78. 6,591,784 shares of the company's stock were exchanged, compared to its average volume of 7,309,470. Intra-Cellular Therapies has a 52 week low of $62.78 and a 52 week high of $128.00. The company has a market cap of $13.44 billion, a PE ratio of -145.72 and a beta of 0.70. The company has a 50-day simple moving average of $87.14 and a 200 day simple moving average of $79.68.

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

Insider Buying and Selling

In other news, CEO Sharon Mates sold 51,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction that occurred on Tuesday, November 12th. The stock was 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 Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ITCI. DekaBank Deutsche Girozentrale grew its stake in shares of Intra-Cellular Therapies by 1.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 52,499 shares of the biopharmaceutical company's stock valued at $3,714,000 after acquiring an additional 502 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Intra-Cellular Therapies by 21.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 35,492 shares of the biopharmaceutical company's stock valued at $2,431,000 after purchasing an additional 6,382 shares during the period. Renaissance Technologies LLC grew its position in shares of Intra-Cellular Therapies by 130.0% during the 2nd quarter. Renaissance Technologies LLC now owns 222,400 shares of the biopharmaceutical company's stock worth $15,232,000 after purchasing an additional 125,700 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Intra-Cellular Therapies during the second quarter worth approximately $1,420,000. Finally, Amalgamated Bank raised its position in shares of Intra-Cellular Therapies by 117.3% in the second quarter. Amalgamated Bank now owns 6,922 shares of the biopharmaceutical company's stock valued at $474,000 after buying an additional 3,736 shares in the last quarter. Institutional investors own 92.33% of the company's stock.

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.