Intra-Cellular Therapies (NASDAQ:ITCI) Sets New 1-Year High – Here’s What Happened

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) hit a new 52-week high on Monday . The stock traded as high as $131.94 and last traded at $131.89, with a volume of 625284 shares changing hands. The stock had previously closed at $131.81.

Analyst Ratings Changes

A number of research analysts have issued reports on ITCI shares. Leerink Partnrs downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Mizuho cut shares of Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $140.00 to $132.00 in a research note on Monday, February 24th. Piper Sandler restated a “neutral” rating and set a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. StockNews.com assumed coverage on shares of Intra-Cellular Therapies in a research report on Friday, March 28th. They issued a “hold” rating for the company. Finally, Cantor Fitzgerald upgraded Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $106.08.

Intra-Cellular Therapies Stock Performance

The stock has a market cap of $14.05 billion, a price-to-earnings ratio of -151.57 and a beta of 0.69. The company has a 50 day moving average of $129.34 and a 200-day moving average of $100.60.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.08). The business had revenue of $199.22 million for the quarter, compared to analysts’ expectations 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, research analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Institutional Investors Weigh In On Intra-Cellular Therapies

Large investors have recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB raised its holdings in Intra-Cellular Therapies by 124.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 240 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 133 shares in the last quarter. M&T Bank Corp lifted its position in shares of Intra-Cellular Therapies by 2.2% during the 4th quarter. M&T Bank Corp now owns 6,301 shares of the biopharmaceutical company’s stock worth $526,000 after purchasing an additional 138 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Intra-Cellular Therapies by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company’s stock worth $748,000 after purchasing an additional 141 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Intra-Cellular Therapies by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 2,956 shares of the biopharmaceutical company’s stock valued at $247,000 after buying an additional 150 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its holdings in Intra-Cellular Therapies by 6.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock worth $266,000 after buying an additional 192 shares during the last quarter. Hedge funds and other 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.