Intra-Cellular Therapies (NASDAQ:ITCI) Reaches New 52-Week High at $81.41

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) hit a new 52-week high on Tuesday . The stock traded as high as $81.41 and last traded at $81.04, with a volume of 2390811 shares. The stock had previously closed at $64.76.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ITCI shares. Bank of America upped their price target on Intra-Cellular Therapies from $74.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $101.00 target price on shares of Intra-Cellular Therapies in a report on Friday, February 23rd. Canaccord Genuity Group dropped their target price on Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $82.00 target price on shares of Intra-Cellular Therapies in a report on Tuesday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intra-Cellular Therapies has an average rating of “Moderate Buy” and a consensus target price of $81.42.

Intra-Cellular Therapies Price Performance

The company has a market cap of $7.88 billion, a PE ratio of -55.08 and a beta of 1.02. The business has a 50-day moving average of $68.95 and a 200 day moving average of $63.53.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The business had revenue of $132.10 million during the quarter, compared to analysts’ expectations of $135.97 million. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The business’s quarterly revenue was up 50.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.45) earnings per share. On average, equities analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joel S. Marcus sold 26,328 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the completion of the sale, the director now owns 39,662 shares in the company, valued at $2,723,986.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sharon Mates sold 22,590 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the completion of the sale, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at approximately $73,301,065.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joel S. Marcus sold 26,328 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $68.68, for a total value of $1,808,207.04. Following the transaction, the director now owns 39,662 shares in the company, valued at $2,723,986.16. The disclosure for this sale can be found here. Insiders sold a total of 236,404 shares of company stock worth $15,792,460 over the last quarter. 3.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ITCI. JPMorgan Chase & Co. increased its holdings in shares of Intra-Cellular Therapies by 11.7% in the 1st quarter. JPMorgan Chase & Co. now owns 157,144 shares of the biopharmaceutical company’s stock valued at $9,615,000 after acquiring an additional 16,454 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Intra-Cellular Therapies by 5.2% in the 1st quarter. Bank of New York Mellon Corp now owns 385,508 shares of the biopharmaceutical company’s stock valued at $23,591,000 after acquiring an additional 18,999 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Intra-Cellular Therapies in the 1st quarter valued at $349,000. PNC Financial Services Group Inc. increased its holdings in shares of Intra-Cellular Therapies by 25.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,909 shares of the biopharmaceutical company’s stock valued at $363,000 after acquiring an additional 1,204 shares during the period. Finally, Natixis Advisors L.P. increased its holdings in shares of Intra-Cellular Therapies by 71.3% in the 1st quarter. Natixis Advisors L.P. now owns 18,165 shares of the biopharmaceutical company’s stock valued at $1,112,000 after acquiring an additional 7,558 shares during the period. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

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.