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

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $86.17.

ITCI has been the topic of a number of recent analyst reports. TD Cowen lifted their target price on Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday. Canaccord Genuity Group lowered their price objective on shares of Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Bank of America raised their target price on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $101.00 price target on shares of Intra-Cellular Therapies in a report on Friday, February 23rd. Finally, Mizuho raised their price objective on Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a “buy” rating in a report on Friday, February 16th.

Intra-Cellular Therapies Price Performance

ITCI stock opened at $72.00 on Friday. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of -49.31 and a beta of 1.02. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89. The company has a fifty day moving average price of $69.31 and a two-hundred day moving average price of $63.82.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The firm had revenue of $132.10 million for the quarter, compared to the consensus estimate of $135.97 million. During the same quarter last year, the business posted ($0.45) EPS. The company’s revenue was up 50.3% compared to the same quarter last year. Research analysts anticipate that Intra-Cellular Therapies will post -0.69 EPS for the current fiscal year.

Insider Activity

In related news, Director Joel S. Marcus sold 26,328 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were 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 of the company’s stock, valued at $2,723,986.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Joel S. Marcus sold 26,328 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $68.68, for a total value of $1,808,207.04. Following the completion of the transaction, the director now directly owns 39,662 shares of the company’s stock, valued at $2,723,986.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Suresh K. Durgam sold 6,450 shares of Intra-Cellular Therapies stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total transaction of $429,312.00. Following the transaction, the executive vice president now directly owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The disclosure for this sale can be found here. Insiders have sold a total of 168,487 shares of company stock valued at $11,364,950 in the last 90 days. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in shares of Intra-Cellular Therapies by 11.7% during the 1st quarter. JPMorgan Chase & Co. now owns 157,144 shares of the biopharmaceutical company’s stock worth $9,615,000 after purchasing an additional 16,454 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Intra-Cellular Therapies by 5.2% during the 1st quarter. Bank of New York Mellon Corp now owns 385,508 shares of the biopharmaceutical company’s stock worth $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 during the 1st quarter worth $349,000. PNC Financial Services Group Inc. increased its position in shares of Intra-Cellular Therapies by 25.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,909 shares of the biopharmaceutical company’s stock worth $363,000 after purchasing an additional 1,204 shares during the last quarter. Finally, Natixis Advisors L.P. increased its position in shares of Intra-Cellular Therapies by 71.3% during the 1st quarter. Natixis Advisors L.P. now owns 18,165 shares of the biopharmaceutical company’s stock worth $1,112,000 after purchasing an additional 7,558 shares during the last quarter. 92.33% of the stock is 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.