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

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $90.17.

Several research firms have recently commented on ITCI. TD Cowen lifted their price target on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Robert W. Baird upped their target price on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. The Goldman Sachs Group increased their price target on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Royal Bank of Canada restated an “outperform” rating and set a $86.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $120.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, April 24th.

Intra-Cellular Therapies Stock Performance

NASDAQ:ITCI opened at $67.00 on Thursday. The stock has a 50-day simple moving average of $69.03 and a 200 day simple moving average of $65.86. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of -45.89 and a beta of 1.01.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.15. The business had revenue of $144.90 million for the quarter, compared to analyst estimates of $141.41 million. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The business’s revenue was up 52.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.46) EPS. On average, equities research analysts forecast that Intra-Cellular Therapies will post -0.59 EPS for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, EVP Michael Halstead sold 7,907 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $69.53, for a total transaction of $549,773.71. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at approximately $2,065,041. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Intra-Cellular Therapies news, EVP Michael Halstead sold 7,907 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.53, for a total value of $549,773.71. Following the completion of the sale, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at approximately $2,065,041. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Suresh K. Durgam sold 6,450 shares of Intra-Cellular Therapies stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total transaction of $429,312.00. Following the completion of the transaction, the executive vice president now directly owns 16,170 shares in the company, valued at approximately $1,076,275.20. The disclosure for this sale can be found here. Insiders have sold 168,487 shares of company stock worth $11,364,950 over the last quarter. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of hedge funds have recently modified their holdings of ITCI. Vanguard Group Inc. lifted its stake in Intra-Cellular Therapies by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock valued at $651,334,000 after buying an additional 554,577 shares in the last quarter. Wasatch Advisors LP boosted its position in shares of Intra-Cellular Therapies by 6.3% in the first quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock worth $266,748,000 after buying an additional 227,439 shares during the period. Avoro Capital Advisors LLC acquired a new stake in shares of Intra-Cellular Therapies in the fourth quarter worth $161,543,000. JPMorgan Chase & Co. increased its holdings in shares of Intra-Cellular Therapies by 4.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,063,802 shares of the biopharmaceutical company’s stock valued at $107,503,000 after purchasing an additional 86,388 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Intra-Cellular Therapies by 6.7% during the third quarter. Wellington Management Group LLP now owns 1,815,954 shares of the biopharmaceutical company’s stock worth $94,593,000 after purchasing an additional 114,370 shares during the period. 92.33% of the stock is currently owned by institutional investors and hedge funds.

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.