Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Given Average Rating of "Moderate Buy" by Analysts

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Get Free Report) has been assigned an average rating of "Moderate Buy" from the thirteen research firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $100.31.

Several research analysts have commented on the company. Royal Bank of Canada lifted their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. JPMorgan Chase & Co. lifted their price objective on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Piper Sandler reissued a "neutral" rating and set a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday. Cantor Fitzgerald restated an "overweight" rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Finally, Morgan Stanley increased their price target on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, October 11th.

Insider Activity at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 51,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael Halstead sold 22,869 shares of the business's 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 owned by insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITCI. Wasatch Advisors LP lifted its stake in shares of Intra-Cellular Therapies by 3.5% during the 3rd quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company's stock valued at $281,601,000 after buying an additional 130,351 shares in the last quarter. Avoro Capital Advisors LLC raised its holdings in Intra-Cellular Therapies by 21.2% during the 2nd quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company's stock valued at $205,470,000 after acquiring an additional 525,000 shares during the period. Bellevue Group AG lifted its position in shares of Intra-Cellular Therapies by 0.6% during the third quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company's stock worth $181,873,000 after acquiring an additional 14,342 shares in the last quarter. State Street Corp boosted its holdings in shares of Intra-Cellular Therapies by 3.1% in the third quarter. State Street Corp now owns 1,858,915 shares of the biopharmaceutical company's stock worth $136,017,000 after acquiring an additional 56,664 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Intra-Cellular Therapies by 9.7% in the third quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company's stock valued at $129,463,000 after purchasing an additional 155,655 shares in the last quarter. Institutional investors own 92.33% of the company's stock.

Intra-Cellular Therapies Price Performance

NASDAQ ITCI traded down $0.30 during trading hours on Tuesday, reaching $126.89. The company's stock had a trading volume of 16,589,198 shares, compared to its average volume of 7,416,437. The firm has a fifty day simple moving average of $86.39 and a 200-day simple moving average of $79.26. Intra-Cellular Therapies has a 52 week low of $62.78 and a 52 week high of $128.00. The stock has a market cap of $13.45 billion, a P/E ratio of -145.85 and a beta of 0.70.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last released 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). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business had revenue of $175.40 million for the quarter, compared to the consensus estimate of $172.30 million. During the same period in the previous year, the business posted ($0.25) EPS. Intra-Cellular Therapies's revenue was up 39.0% on a year-over-year basis. On average, research analysts expect that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

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.