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

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has received a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $97.23.

Several equities analysts have recently issued reports on the company. Morgan Stanley boosted their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th.

Intra-Cellular Therapies Stock Down 3.0 %

Shares of ITCI opened at $84.14 on Friday. The stock has a market capitalization of $8.92 billion, a P/E ratio of -96.71 and a beta of 0.95. Intra-Cellular Therapies has a twelve month low of $62.78 and a twelve month high of $93.45. The firm has a fifty day simple moving average of $83.49 and a two-hundred day simple moving average of $77.23.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results 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 return on equity of 9.93% and a negative net margin of 14.07%. The firm had revenue of $175.40 million for the quarter, compared to analysts’ expectations of $172.30 million. During the same quarter in the prior year, the company posted ($0.25) earnings per share. The business’s revenue for the quarter was up 39.0% on a year-over-year basis. Sell-side analysts expect that Intra-Cellular Therapies will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC bought a new stake in shares of Intra-Cellular Therapies in the 3rd quarter worth $32,000. Summit Securities Group LLC bought a new stake in Intra-Cellular Therapies in the 2nd quarter worth about $56,000. Capital Performance Advisors LLP purchased a new position in Intra-Cellular Therapies in the 3rd quarter worth about $74,000. Wilmington Savings Fund Society FSB purchased a new position in Intra-Cellular Therapies in the 3rd quarter worth about $97,000. Finally, Quarry LP lifted its stake in Intra-Cellular Therapies by 260.0% during the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after acquiring an additional 1,300 shares during the period. 92.33% of the stock is owned by institutional investors.

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.