Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Short Interest Update

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) saw a significant increase in short interest in September. As of September 15th, there was short interest totalling 2,570,000 shares, an increase of 5.8% from the August 31st total of 2,430,000 shares. Based on an average daily volume of 906,000 shares, the short-interest ratio is presently 2.8 days.

Analyst Ratings Changes

A number of research firms recently issued reports on ITCI. Mizuho lifted their target price on Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, June 21st. UBS Group lowered their price target on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their target price for the company from $68.00 to $92.00 in a research report on Friday, September 6th. Royal Bank of Canada decreased their target price on Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Intra-Cellular Therapies has a consensus rating of “Moderate Buy” and an average price target of $96.58.

Intra-Cellular Therapies Stock Down 0.2 %

Intra-Cellular Therapies stock traded down $0.13 during trading hours on Monday, reaching $73.17. 356,286 shares of the company’s stock were exchanged, compared to its average volume of 906,438. The firm’s 50 day simple moving average is $75.44 and its 200 day simple moving average is $71.82. Intra-Cellular Therapies has a twelve month low of $45.50 and a twelve month high of $84.89. The firm has a market capitalization of $7.72 billion, a PE ratio of -63.08 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. The company had revenue of $161.40 million for the quarter, compared to analysts’ expectations of $157.74 million. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The business’s revenue was up 45.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.45) EPS. Analysts anticipate that Intra-Cellular Therapies will post -0.59 EPS for the current year.

Insider Activity

In other news, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the sale, the executive vice president now directly owns 29,700 shares in the company, valued at $2,229,876. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Sharon Mates sold 34,396 shares of Intra-Cellular Therapies stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of Intra-Cellular Therapies stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the sale, the executive vice president now directly owns 29,700 shares in the company, valued at approximately $2,229,876. The disclosure for this sale can be found here. Insiders have sold a total of 175,316 shares of company stock worth $13,037,345 over the last three months. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

Large investors have recently added to or reduced their stakes in the business. Kapitalo Investimentos Ltda bought a new position in Intra-Cellular Therapies in the 4th quarter valued at about $26,000. Headlands Technologies LLC bought a new position in Intra-Cellular Therapies in the 1st quarter valued at about $32,000. Fidelis Capital Partners LLC bought a new position in Intra-Cellular Therapies in the 1st quarter valued at about $53,000. Summit Securities Group LLC bought a new position in Intra-Cellular Therapies in the 2nd quarter valued at about $56,000. Finally, CWM LLC lifted its position in Intra-Cellular Therapies by 83.9% in the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 626 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.