Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $97.23.

A number of equities analysts have weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Morgan Stanley boosted their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and raised their price target for the company from $68.00 to $92.00 in a report on Friday, September 6th. JPMorgan Chase & Co. upped their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th.

Insider Buying and Selling at Intra-Cellular Therapies

In related news, President Michael Halstead sold 22,869 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. This represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP boosted its position in shares of Intra-Cellular Therapies by 3.5% during the 3rd quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company’s stock worth $281,601,000 after acquiring an additional 130,351 shares in the last quarter. Avoro Capital Advisors LLC lifted its stake 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 worth $205,470,000 after purchasing an additional 525,000 shares during the last quarter. Bellevue Group AG boosted its holdings in shares of 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 purchasing an additional 14,342 shares in the last quarter. State Street Corp increased its stake in shares of Intra-Cellular Therapies by 3.1% in the 3rd quarter. State Street Corp now owns 1,858,915 shares of the biopharmaceutical company’s stock valued at $136,017,000 after purchasing an additional 56,664 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Intra-Cellular Therapies by 9.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company’s stock worth $129,463,000 after buying an additional 155,655 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Intra-Cellular Therapies Stock Up 1.5 %

Shares of Intra-Cellular Therapies stock opened at $85.24 on Friday. Intra-Cellular Therapies has a 12-month low of $62.78 and a 12-month high of $93.45. The business’s 50 day moving average is $83.84 and its 200-day moving average is $77.58. The stock has a market cap of $9.04 billion, a P/E ratio of -97.98 and a beta of 0.95.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The firm had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business’s revenue was up 39.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.25) EPS. On average, sell-side analysts expect that Intra-Cellular Therapies will post -0.64 EPS for the current year.

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.