Intra-Cellular Therapies (NASDAQ:ITCI) Hits New 1-Year High – What’s Next?

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $85.91 and last traded at $84.33, with a volume of 266473 shares. The stock had previously closed at $76.75.

Wall Street Analyst Weigh In

ITCI has been the subject of a number of recent analyst reports. UBS Group cut their price objective on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $68.00 to $92.00 in a research note on Friday, September 6th. The Goldman Sachs Group reduced their price target on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday. Finally, Royal Bank of Canada boosted their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.62.

Intra-Cellular Therapies Price Performance

The stock has a 50 day moving average price of $74.73 and a 200-day moving average price of $73.04.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 11.09%. The firm had revenue of $175.40 million during the quarter, compared to analysts’ expectations of $172.30 million. During the same quarter in the previous year, the business posted ($0.25) EPS. The company’s revenue for the quarter was up 39.0% on a year-over-year basis. Research analysts predict that Intra-Cellular Therapies, Inc. will post -0.6 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 34,396 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction on 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 owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 175,316 shares of company stock worth $13,037,345. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in Intra-Cellular Therapies in the 1st quarter valued at about $32,000. Fidelis Capital Partners LLC acquired a new position in Intra-Cellular Therapies in the first quarter valued at approximately $53,000. Summit Securities Group LLC purchased a new position in Intra-Cellular Therapies in the second quarter worth approximately $56,000. CWM LLC increased its stake in Intra-Cellular Therapies by 83.9% during the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 626 shares during the last quarter. Finally, EntryPoint Capital LLC raised its position in Intra-Cellular Therapies by 138.7% in the first quarter. EntryPoint Capital LLC now owns 2,167 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 1,259 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.