Intra-Cellular Therapies (NASDAQ:ITCI) Reaches New 12-Month High – Time to Buy?

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) reached a new 52-week high during trading on Monday . The company traded as high as $131.67 and last traded at $131.66, with a volume of 1836929 shares trading hands. The stock had previously closed at $131.60.

Wall Street Analysts Forecast Growth

ITCI has been the topic of a number of recent analyst reports. Mizuho lowered shares of Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $140.00 to $132.00 in a research note on Monday, February 24th. Canaccord Genuity Group lowered shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and lifted their price target for the company from $119.00 to $132.00 in a report on Friday, January 31st. Leerink Partnrs lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. StockNews.com initiated coverage on shares of Intra-Cellular Therapies in a report on Thursday. They set a “hold” rating on the stock. Finally, Baird R W downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $106.08.

Intra-Cellular Therapies Stock Performance

The stock has a market cap of $14.00 billion, a price-to-earnings ratio of -151.29 and a beta of 0.69. The company’s 50 day simple moving average is $128.61 and its two-hundred day simple moving average is $97.76.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.08). The business had revenue of $199.22 million during the quarter, compared to the consensus estimate of $205.08 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. On average, equities research analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Intra-Cellular Therapies during the 3rd quarter worth about $1,251,000. Cerity Partners LLC boosted its stake in shares of Intra-Cellular Therapies by 62.9% in the 3rd quarter. Cerity Partners LLC now owns 44,107 shares of the biopharmaceutical company’s stock valued at $3,227,000 after purchasing an additional 17,027 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in Intra-Cellular Therapies by 11.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,159,356 shares of the biopharmaceutical company’s stock worth $84,830,000 after acquiring an additional 116,494 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Intra-Cellular Therapies by 1.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,057 shares of the biopharmaceutical company’s stock worth $1,614,000 after acquiring an additional 283 shares during the last quarter. Finally, Cynosure Group LLC boosted its stake in Intra-Cellular Therapies by 161.0% during the 3rd quarter. Cynosure Group LLC now owns 14,442 shares of the biopharmaceutical company’s stock worth $1,057,000 after acquiring an additional 8,909 shares during the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

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.