Intra-Cellular Therapies (NASDAQ:ITCI) Sets New 52-Week High - Still a Buy?

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $129.38 and last traded at $128.59, with a volume of 1005 shares trading hands. The stock had previously closed at $128.58.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ITCI. JPMorgan Chase & Co. boosted their price objective on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Leerink Partnrs downgraded Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a report on Monday, January 13th. StockNews.com assumed coverage on Intra-Cellular Therapies in a report on Monday, February 24th. They set a "hold" rating on the stock. Needham & Company LLC restated a "hold" rating on shares of Intra-Cellular Therapies in a report on Friday, February 21st. Finally, Canaccord Genuity Group downgraded Intra-Cellular Therapies from a "buy" rating to a "hold" rating and upped their price target for the stock from $119.00 to $132.00 in a report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $106.08.

Intra-Cellular Therapies Stock Performance

The stock has a market capitalization of $13.63 billion, a price-to-earnings ratio of -147.35 and a beta of 0.72. The business has a 50-day moving average of $114.58 and a 200-day moving average of $91.50.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last announced its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share (EPS) 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. On average, research analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intra-Cellular Therapies 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 completion of the sale, the chief executive officer now directly owns 1,070,329 shares of the company's stock, valued at approximately $91,834,228.20. This trade 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 the SEC website. 2.60% of the stock is owned by insiders.

Institutional Trading of Intra-Cellular Therapies

Hedge funds have recently added to or reduced their stakes in the stock. Accredited Wealth Management LLC acquired a new stake in Intra-Cellular Therapies during the 4th quarter worth approximately $28,000. True Wealth Design LLC purchased a new position in shares of Intra-Cellular Therapies during the 3rd quarter worth approximately $32,000. GAMMA Investing LLC raised its stake in shares of Intra-Cellular Therapies by 46.3% during the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company's stock worth $63,000 after buying an additional 240 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Intra-Cellular Therapies during the 3rd quarter worth approximately $74,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $96,000. 92.33% of the stock is 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.