Intra-Cellular Therapies (NASDAQ:ITCI) Sets New 12-Month High – Should You Buy?

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) hit a new 52-week high during trading on Monday . The stock traded as high as $131.67 and last traded at $131.66, with a volume of 1836929 shares. The stock had previously closed at $131.60.

Analyst Upgrades and Downgrades

ITCI has been the topic of a number of recent research reports. Canaccord Genuity Group downgraded shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and lifted their price objective for the company from $119.00 to $132.00 in a report on Friday, January 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $132.00 price objective (up from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday, January 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $132.00 price objective (up from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Baird R W cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Leerink Partnrs lowered Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $106.08.

Intra-Cellular Therapies Stock Up 0.1 %

The stock has a market capitalization of $14.00 billion, a PE ratio of -151.29 and a beta of 0.69. The firm has a 50 day moving average price of $128.61 and a 200 day moving average price of $97.76.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.08). The business had revenue of $199.22 million during the quarter, compared to the consensus estimate of $205.08 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. On average, equities analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of large investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Intra-Cellular Therapies by 36.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,010 shares of the biopharmaceutical company’s stock worth $1,003,000 after acquiring an additional 3,200 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Intra-Cellular Therapies in the fourth quarter worth $7,951,000. GF Fund Management CO. LTD. bought a new position in shares of Intra-Cellular Therapies in the fourth quarter worth $186,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Intra-Cellular Therapies by 3.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 335,319 shares of the biopharmaceutical company’s stock worth $28,006,000 after acquiring an additional 12,111 shares during the period. Finally, Two Sigma Advisers LP bought a new position in shares of Intra-Cellular Therapies in the fourth quarter worth $11,966,000. 92.33% of the stock is owned by institutional investors.

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.