Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Given Consensus Rating of “Moderate Buy” by Analysts

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has been given an average rating of “Moderate Buy” by the fifteen ratings firms that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $100.31.

A number of equities research analysts have commented on the company. Needham & Company LLC reissued a “hold” rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, January 13th. Leerink Partnrs lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler reissued a “neutral” rating and set a $132.00 target price (up from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Baird R W cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Cantor Fitzgerald raised Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th.

Intra-Cellular Therapies Stock Performance

Intra-Cellular Therapies stock opened at $126.20 on Tuesday. The stock has a market capitalization of $13.38 billion, a price-to-earnings ratio of -145.06 and a beta of 0.70. Intra-Cellular Therapies has a 52-week low of $62.78 and a 52-week high of $128.00. The stock’s 50 day moving average price is $89.99 and its two-hundred day moving average price is $81.30.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS 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 company had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. During the same quarter in the previous year, the business posted ($0.25) earnings per share. The company’s revenue for the quarter was up 39.0% compared to the same quarter last year. On average, equities research analysts forecast that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insiders Place Their Bets

In other news, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Hedge funds have recently modified their holdings of the stock. Perceptive Advisors LLC raised its stake in shares of Intra-Cellular Therapies by 62.6% in the second quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock valued at $117,557,000 after buying an additional 661,052 shares during the period. Millennium Management LLC increased its holdings in Intra-Cellular Therapies by 214.5% in the 2nd quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock worth $60,895,000 after acquiring an additional 606,358 shares during the last quarter. Avoro Capital Advisors LLC raised its stake in Intra-Cellular Therapies by 21.2% in the 2nd quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock valued at $205,470,000 after acquiring an additional 525,000 shares during the period. Marshall Wace LLP purchased a new stake in Intra-Cellular Therapies during the second quarter valued at about $34,178,000. Finally, Hood River Capital Management LLC bought a new position in Intra-Cellular Therapies during the second quarter worth about $33,390,000. Institutional investors 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.