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

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has earned a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $97.23.

A number of brokerages have recently weighed in on ITCI. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Morgan Stanley boosted their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $68.00 to $92.00 in a research report on Friday, September 6th.

Intra-Cellular Therapies Trading Up 0.9 %

Shares of Intra-Cellular Therapies stock opened at $86.00 on Friday. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of -98.85 and a beta of 0.95. The firm’s 50-day moving average price is $84.24 and its two-hundred day moving average price is $77.75. Intra-Cellular Therapies has a 1-year low of $62.78 and a 1-year high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last released 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 business had revenue of $175.40 million for the quarter, compared to the consensus estimate of $172.30 million. During the same quarter last year, the company earned ($0.25) earnings per share. The firm’s revenue was up 39.0% on a year-over-year basis. As a group, equities research analysts predict that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insider Activity at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at $91,834,228.20. This represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Several large investors have recently bought and sold shares of the company. True Wealth Design LLC acquired a new position in shares of Intra-Cellular Therapies in the third quarter valued at approximately $32,000. Summit Securities Group LLC acquired a new position in Intra-Cellular Therapies in the 2nd quarter valued at approximately $56,000. Capital Performance Advisors LLP bought a new position in shares of Intra-Cellular Therapies during the third quarter valued at $74,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Intra-Cellular Therapies during the third quarter worth $97,000. Finally, Quarry LP grew its stake in shares of Intra-Cellular Therapies by 260.0% in the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock worth $132,000 after purchasing an additional 1,300 shares during the last quarter. 92.33% of the stock is currently owned by institutional investors.

About Intra-Cellular Therapies

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.