Intra-Cellular Therapies (NASDAQ:ITCI) Reaches New 52-Week High – Should You Buy?

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $131.40 and last traded at $131.26, with a volume of 153 shares changing hands. The stock had previously closed at $131.25.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Intra-Cellular Therapies in a report on Friday, February 21st. Canaccord Genuity Group lowered Intra-Cellular Therapies from a “buy” rating to a “hold” rating and lifted their price target for the company from $119.00 to $132.00 in a research note on Friday, January 31st. Mizuho cut Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $140.00 to $132.00 in a report on Monday, February 24th. StockNews.com started coverage on shares of Intra-Cellular Therapies in a report on Tuesday, March 4th. They issued a “hold” rating for the company. Finally, Piper Sandler reiterated a “neutral” rating and set a $132.00 target price (up from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Intra-Cellular Therapies has a consensus rating of “Hold” and an average price target of $106.08.

Intra-Cellular Therapies Stock Up 0.0 %

The firm has a market cap of $13.96 billion, a P/E ratio of -150.91 and a beta of 0.69. The business’s 50 day moving average is $120.15 and its two-hundred day moving average is $94.08.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). 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 $199.22 million during the quarter, compared to analyst estimates of $205.08 million. Equities research analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Hedge Funds Weigh In On Intra-Cellular Therapies

Institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE boosted its stake in Intra-Cellular Therapies by 3.3% during the third quarter. US Bancorp DE now owns 7,951 shares of the biopharmaceutical company’s stock worth $582,000 after acquiring an additional 251 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Intra-Cellular Therapies by 3.3% during the third quarter. Principal Financial Group Inc. now owns 597,713 shares of the biopharmaceutical company’s stock valued at $43,735,000 after purchasing an additional 18,865 shares during the period. Assetmark Inc. boosted its position in shares of Intra-Cellular Therapies by 9.1% during the 3rd quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock worth $181,000 after purchasing an additional 207 shares in the last quarter. Atria Investments Inc boosted its position in shares of Intra-Cellular Therapies by 41.1% during the 3rd quarter. Atria Investments Inc now owns 5,137 shares of the biopharmaceutical company’s stock worth $376,000 after purchasing an additional 1,497 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Intra-Cellular Therapies by 40.4% in the 3rd quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 521 shares during the period. 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.