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

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $81.42.

ITCI has been the topic of a number of research reports. Mizuho raised their price target on Intra-Cellular Therapies from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Robert W. Baird initiated coverage on Intra-Cellular Therapies in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $83.00 price target on the stock. The Goldman Sachs Group raised their price target on Intra-Cellular Therapies from $58.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Canaccord Genuity Group dropped their price target on Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $101.00 price target on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd.

Intra-Cellular Therapies Stock Performance

ITCI opened at $65.88 on Friday. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $76.11. The company has a market cap of $6.38 billion, a P/E ratio of -45.12 and a beta of 1.02. The business’s 50-day simple moving average is $69.03 and its 200-day simple moving average is $63.39.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The business had revenue of $132.10 million for the quarter, compared to the consensus estimate of $135.97 million. During the same quarter in the prior year, the business posted ($0.45) EPS. The business’s revenue for the quarter was up 50.3% on a year-over-year basis. As a group, analysts predict that Intra-Cellular Therapies will post -0.65 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Suresh K. Durgam sold 6,450 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total value of $429,312.00. Following the completion of the sale, the executive vice president now directly owns 16,170 shares of the company’s stock, valued at approximately $1,076,275.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Suresh K. Durgam sold 6,450 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total value of $429,312.00. Following the completion of the sale, the executive vice president now directly owns 16,170 shares of the company’s stock, valued at approximately $1,076,275.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sharon Mates sold 67,917 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $65.19, for a total value of $4,427,509.23. Following the completion of the sale, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at $68,469,643.71. The disclosure for this sale can be found here. Insiders sold 311,765 shares of company stock valued at $20,860,487 in the last three months. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kapitalo Investimentos Ltda acquired a new position in Intra-Cellular Therapies during the fourth quarter worth $26,000. Lazard Asset Management LLC acquired a new position in Intra-Cellular Therapies during the second quarter worth $29,000. Signaturefd LLC raised its holdings in Intra-Cellular Therapies by 85.7% during the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 239 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Intra-Cellular Therapies during the third quarter worth $45,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in Intra-Cellular Therapies during the fourth quarter worth $47,000. 92.33% of the stock is owned by institutional investors and hedge funds.

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.