Intra-Cellular Therapies (NASDAQ:ITCI) Reaches New 1-Year High - Here's What Happened

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $128.03 and last traded at $128.02, with a volume of 240208 shares changing hands. The stock had previously closed at $127.97.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ITCI. Baird R W cut shares of Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 13th. Needham & Company LLC reissued a "hold" rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a report on Monday, January 13th. Leerink Partnrs cut Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a report on Monday, January 13th. Piper Sandler reiterated a "neutral" rating and issued a $132.00 target price (up from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Finally, StockNews.com began coverage on Intra-Cellular Therapies in a research report on Sunday. They set a "hold" rating for the company. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $103.62.

Intra-Cellular Therapies Stock Down 0.2 %

The firm has a market cap of $13.59 billion, a P/E ratio of -146.92 and a beta of 0.72. The company's 50 day simple moving average is $106.66 and its 200-day simple moving average is $88.38.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total value of $4,375,800.00. Following the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $91,834,228.20. This represents a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Avior Wealth Management LLC raised its position in Intra-Cellular Therapies by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company's stock valued at $327,000 after purchasing an additional 131 shares in the last quarter. M&T Bank Corp increased its stake in shares of Intra-Cellular Therapies by 2.2% during the fourth quarter. M&T Bank Corp now owns 6,301 shares of the biopharmaceutical company's stock valued at $526,000 after buying an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Intra-Cellular Therapies by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company's stock valued at $748,000 after acquiring an additional 141 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Intra-Cellular Therapies by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 2,956 shares of the biopharmaceutical company's stock worth $247,000 after acquiring an additional 150 shares during the period. Finally, Pallas Capital Advisors LLC grew its holdings in Intra-Cellular Therapies by 6.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company's stock worth $266,000 after acquiring an additional 192 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.