Intra-Cellular Therapies (NASDAQ:ITCI) Shares Gap Down to $76.69

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $76.69, but opened at $74.40. Intra-Cellular Therapies shares last traded at $73.10, with a volume of 1,015,719 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ITCI. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price target on shares of Intra-Cellular Therapies in a research note on Tuesday. Bank of America lifted their price target on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday. Mizuho lifted their price target on Intra-Cellular Therapies from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. The Goldman Sachs Group lifted their price target on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $101.00 target price on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.17.

Intra-Cellular Therapies Stock Down 4.8 %

The company has a 50-day moving average of $69.31 and a two-hundred day moving average of $63.82. The company has a market capitalization of $7.07 billion, a P/E ratio of -50.38 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping the consensus estimate 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 business had revenue of $132.10 million for the quarter, compared to the consensus estimate of $135.97 million. During the same period in the previous year, the company posted ($0.45) earnings per share. The company’s revenue for the quarter was up 50.3% compared to the same quarter last year. As a group, equities analysts expect that Intra-Cellular Therapies, Inc. will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total value of $429,312.00. Following the sale, the executive vice president now directly owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Sharon Mates sold 20,565 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the transaction, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at $68,490,649.89. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Suresh K. Durgam sold 6,450 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value of $429,312.00. Following the transaction, the executive vice president now directly owns 16,170 shares in the company, valued at $1,076,275.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,487 shares of company stock valued at $11,364,950. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Intra-Cellular Therapies

A number of hedge funds have recently bought and sold shares of the company. Kapitalo Investimentos Ltda acquired a new position in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $26,000. Lazard Asset Management LLC acquired a new position in shares of Intra-Cellular Therapies during the 2nd quarter worth approximately $29,000. Signaturefd LLC lifted its holdings in Intra-Cellular Therapies by 85.7% in the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 239 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Intra-Cellular Therapies in the third quarter valued at approximately $45,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in Intra-Cellular Therapies in the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 92.33% of the company’s stock.

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.