Intra-Cellular Therapies (NASDAQ:ITCI) Sets New 52-Week High - What's Next?

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $128.45 and last traded at $128.52, with a volume of 412126 shares traded. The stock had previously closed at $127.96.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ITCI. Needham & Company LLC reiterated a "hold" rating on shares of Intra-Cellular Therapies in a research report on Friday. Royal Bank of Canada reissued a "sector perform" rating and issued a $132.00 target price (up from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Baird R W lowered Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Canaccord Genuity Group cut shares of 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 research note on Friday, January 31st. Finally, Leerink Partnrs downgraded shares of Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.62.

Intra-Cellular Therapies Price Performance

The firm has a market capitalization of $13.67 billion, a PE ratio of -147.81 and a beta of 0.72. The company has a 50-day moving average price of $110.27 and a 200-day moving average price of $89.72.

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

Insider Activity at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of institutional investors have recently bought and sold shares of ITCI. Vanguard Group Inc. increased its stake in Intra-Cellular Therapies by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 9,721,360 shares of the biopharmaceutical company's stock valued at $811,928,000 after buying an additional 93,107 shares during the period. Wasatch Advisors LP raised its position in shares of Intra-Cellular Therapies by 3.5% in the third quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company's stock valued at $281,601,000 after purchasing an additional 130,351 shares during the period. Norges Bank acquired a new stake in shares of Intra-Cellular Therapies in the fourth quarter worth $268,347,000. Invesco Ltd. boosted its holdings in shares of Intra-Cellular Therapies by 2.9% during the 4th quarter. Invesco Ltd. now owns 3,077,174 shares of the biopharmaceutical company's stock worth $257,006,000 after buying an additional 87,582 shares during the period. Finally, Bellevue Group AG grew its stake in Intra-Cellular Therapies by 0.6% in the 3rd quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company's stock valued at $181,873,000 after buying an additional 14,342 shares during the last quarter. 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.