Intra-Cellular Therapies (NASDAQ:ITCI) Hits New 52-Week High After Analyst Upgrade

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) hit a new 52-week high during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $81.00 to $89.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Intra-Cellular Therapies traded as high as $88.77 and last traded at $88.51, with a volume of 276949 shares. The stock had previously closed at $86.17.

ITCI has been the subject of several other reports. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a report on Monday, September 16th. UBS Group decreased their target price on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada upped their price target on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Finally, Morgan Stanley upped their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.23.

Insiders Place Their Bets

In related news, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the completion of the sale, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 34,396 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark Neumann sold 18,714 shares of Intra-Cellular Therapies stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at approximately $2,229,876. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,316 shares of company stock valued at $13,037,345 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in Intra-Cellular Therapies during the first quarter worth about $32,000. Fidelis Capital Partners LLC acquired a new stake in shares of Intra-Cellular Therapies during the 1st quarter worth approximately $53,000. Summit Securities Group LLC bought a new stake in shares of Intra-Cellular Therapies during the second quarter valued at approximately $56,000. Capital Performance Advisors LLP acquired a new position in shares of Intra-Cellular Therapies in the third quarter valued at $74,000. Finally, CWM LLC lifted its position in Intra-Cellular Therapies by 83.9% in the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 626 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.

Intra-Cellular Therapies Price Performance

The stock has a market cap of $9.39 billion, a price-to-earnings ratio of -99.05 and a beta of 0.97. The stock’s 50 day simple moving average is $75.41 and its two-hundred day simple moving average is $73.31.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business had revenue of $175.40 million for the quarter, compared to analyst estimates of $172.30 million. During the same quarter last year, the firm posted ($0.25) earnings per share. Intra-Cellular Therapies’s revenue was up 39.0% on a year-over-year basis. As a group, analysts predict that Intra-Cellular Therapies, Inc. will post -0.61 earnings per share for the current 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.