Intra-Cellular Therapies (NASDAQ:ITCI) Hits New 12-Month High - Time to Buy?

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $92.60 and last traded at $92.60, with a volume of 18512 shares. The stock had previously closed at $91.29.

Wall Street Analysts Forecast Growth

ITCI has been the topic of several research analyst reports. Needham & Company LLC reissued a "buy" rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. UBS Group cut their target price on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Morgan Stanley raised their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Finally, Piper Sandler raised shares of Intra-Cellular Therapies from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Intra-Cellular Therapies currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.23.

Intra-Cellular Therapies Price Performance

The company's fifty day moving average price is $76.78 and its 200 day moving average price is $73.77. The company has a market cap of $9.71 billion, a PE ratio of -105.25 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $175.40 million for the quarter, compared to analysts' expectations of $172.30 million. During the same quarter last year, the business posted ($0.25) EPS. The business's quarterly revenue was up 39.0% on a year-over-year basis. On average, analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sharon Mates sold 53,013 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $80,970,388.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Sharon Mates sold 53,013 shares of Intra-Cellular Therapies stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total value of $4,010,433.45. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $80,970,388.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Neumann sold 18,714 shares of Intra-Cellular Therapies stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the completion of the transaction, the executive vice president now owns 29,700 shares of the company's stock, valued at $2,229,876. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 175,316 shares of company stock worth $13,037,345. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of large investors have recently modified their holdings of ITCI. Perceptive Advisors LLC boosted its position in shares of Intra-Cellular Therapies by 62.6% in the second quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company's stock valued at $117,557,000 after acquiring an additional 661,052 shares during the period. Millennium Management LLC lifted its position in Intra-Cellular Therapies by 214.5% during the second quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company's stock valued at $60,895,000 after purchasing an additional 606,358 shares during the last quarter. Avoro Capital Advisors LLC lifted its position in Intra-Cellular Therapies by 21.2% during the second quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company's stock valued at $205,470,000 after purchasing an additional 525,000 shares during the last quarter. Marshall Wace LLP bought a new stake in Intra-Cellular Therapies during the second quarter valued at approximately $34,178,000. Finally, Hood River Capital Management LLC bought a new stake in Intra-Cellular Therapies during the second quarter valued at approximately $33,390,000. 92.33% of the stock is currently owned by institutional investors.

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.