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

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $97.23.

A number of equities analysts have recently issued reports on the stock. UBS Group cut their price objective on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a report on Monday, September 16th. The Goldman Sachs Group decreased their target price on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $68.00 to $92.00 in a research note on Friday, September 6th. Finally, Royal Bank of Canada lifted their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, October 4th.

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 on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sharon Mates sold 34,396 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $72.84, for a total value of $2,505,404.64. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $77,962,764.36. The trade was a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,778 shares of company stock worth $7,524,436 in the last quarter. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several large investors have recently added to or reduced their stakes in ITCI. True Wealth Design LLC purchased a new stake in Intra-Cellular Therapies during the third quarter valued at about $32,000. Summit Securities Group LLC bought a new stake in shares of Intra-Cellular Therapies in the second quarter valued at approximately $56,000. Capital Performance Advisors LLP purchased a new stake in shares of Intra-Cellular Therapies during the 3rd quarter valued at approximately $74,000. CWM LLC boosted its holdings in Intra-Cellular Therapies by 83.9% in the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 626 shares during the period. Finally, Quarry LP grew its stake in Intra-Cellular Therapies by 260.0% in the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Performance

Shares of ITCI opened at $85.69 on Monday. The firm has a market cap of $9.08 billion, a PE ratio of -98.49 and a beta of 0.97. Intra-Cellular Therapies has a 52-week low of $58.14 and a 52-week high of $93.45. The business’s 50 day moving average price is $79.25 and its two-hundred day moving average price is $74.78.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The company had revenue of $175.40 million for the quarter, compared to analyst estimates of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The firm’s revenue was up 39.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.25) EPS. Research analysts predict that Intra-Cellular Therapies will post -0.64 EPS for the current fiscal year.

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.