Intra-Cellular Therapies (NASDAQ:ITCI) Hits New 1-Year High - Here's Why

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $131.67 and last traded at $131.66, with a volume of 1836929 shares changing hands. The stock had previously closed at $131.60.

Wall Street Analyst Weigh In

A number of research firms have commented on ITCI. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $132.00 price target (up previously from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Canaccord Genuity Group downgraded Intra-Cellular Therapies from a "buy" rating to a "hold" rating and upped their target price for the company from $119.00 to $132.00 in a report on Friday, January 31st. StockNews.com initiated coverage on Intra-Cellular Therapies in a research note on Friday. They issued a "hold" rating for the company. Piper Sandler reissued a "neutral" rating and set a $132.00 price objective (up from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Finally, Mizuho lowered shares of Intra-Cellular Therapies from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $140.00 to $132.00 in a report on Monday, February 24th. 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. According to MarketBeat, Intra-Cellular Therapies has an average rating of "Hold" and an average target price of $106.08.

Remove Ads

Intra-Cellular Therapies Price Performance

The stock's 50 day simple moving average is $129.00 and its two-hundred day simple moving average is $99.05. The firm has a market cap of $14.04 billion, a P/E ratio of -151.53 and a beta of 0.69.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last posted its quarterly earnings data on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.08). The company had revenue of $199.22 million for the quarter, compared to the consensus estimate of $205.08 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. Equities research analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Hedge Funds Weigh In On Intra-Cellular Therapies

Large investors have recently modified their holdings of the stock. Accredited Wealth Management LLC bought a new stake in Intra-Cellular Therapies during the 4th quarter valued at about $28,000. True Wealth Design LLC purchased a new stake in shares of Intra-Cellular Therapies during the third quarter valued at approximately $32,000. GAMMA Investing LLC grew its holdings in shares of Intra-Cellular Therapies by 46.3% during the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company's stock valued at $63,000 after buying an additional 240 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Intra-Cellular Therapies during the fourth quarter valued at approximately $96,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Intra-Cellular Therapies in the 3rd quarter worth approximately $97,000. 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.