Intra-Cellular Therapies (NASDAQ:ITCI) Reaches New 1-Year High – Time to Buy?

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) shares hit a new 52-week high during trading on Monday . The stock traded as high as $131.94 and last traded at $131.89, with a volume of 625284 shares. The stock had previously closed at $131.81.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ITCI. Piper Sandler reaffirmed a “neutral” rating and issued a $132.00 price objective (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. 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 research report on Monday, February 24th. Leerink Partnrs downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Needham & Company LLC reissued a “hold” rating on shares of Intra-Cellular Therapies in a research note on Friday, February 21st. Finally, Baird R W lowered Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Intra-Cellular Therapies presently has a consensus rating of “Hold” and a consensus price target of $106.08.

Intra-Cellular Therapies Price Performance

The firm has a 50 day moving average of $129.12 and a 200-day moving average of $99.80. The stock has a market capitalization of $14.05 billion, a P/E ratio of -151.59 and a beta of 0.69.

Intra-Cellular Therapies (NASDAQ:ITCI) last released 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). The firm had revenue of $199.22 million for 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%. As a group, equities analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Intra-Cellular Therapies by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 9,721,360 shares of the biopharmaceutical company’s stock valued at $811,928,000 after acquiring an additional 93,107 shares in the last quarter. Norges Bank bought a new position in Intra-Cellular Therapies during the fourth quarter worth about $268,347,000. Invesco Ltd. boosted its holdings in Intra-Cellular Therapies by 2.9% during the fourth quarter. Invesco Ltd. now owns 3,077,174 shares of the biopharmaceutical company’s stock valued at $257,006,000 after purchasing an additional 87,582 shares in the last quarter. Bellevue Group AG grew its stake in shares of Intra-Cellular Therapies by 0.6% in the 3rd quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company’s stock valued at $181,873,000 after purchasing an additional 14,342 shares during the period. Finally, Deep Track Capital LP raised its holdings in shares of Intra-Cellular Therapies by 24.9% in the 4th quarter. Deep Track Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock worth $167,040,000 after buying an additional 399,307 shares in the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

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.