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

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) shares reached a new 52-week high on Wednesday . The company traded as high as $128.45 and last traded at $128.52, with a volume of 412126 shares. The stock had previously closed at $127.96.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $132.00 price target (up from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Needham & Company LLC restated a “hold” rating on shares of Intra-Cellular Therapies in a research report on Friday. Leerink Partnrs downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. StockNews.com began coverage on shares of Intra-Cellular Therapies in a report on Sunday, February 16th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. increased their price objective on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $103.62.

Intra-Cellular Therapies Trading Up 0.0 %

The firm has a market capitalization of $13.67 billion, a PE ratio of -147.81 and a beta of 0.72. The firm’s fifty day moving average price is $109.36 and its 200 day moving average price is $89.29.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. As a group, research analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Raymond James & Associates grew its holdings in Intra-Cellular Therapies by 2.8% during the third quarter. Raymond James & Associates now owns 158,852 shares of the biopharmaceutical company’s stock valued at $11,623,000 after purchasing an additional 4,325 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in Intra-Cellular Therapies in the 3rd quarter valued at $499,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Intra-Cellular Therapies by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the biopharmaceutical company’s stock valued at $280,000 after buying an additional 670 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Intra-Cellular Therapies by 185.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,810 shares of the biopharmaceutical company’s stock worth $645,000 after acquiring an additional 5,725 shares during the period. Finally, abrdn plc lifted its position in Intra-Cellular Therapies by 7.5% during the 3rd quarter. abrdn plc now owns 250,963 shares of the biopharmaceutical company’s stock worth $18,363,000 after acquiring an additional 17,612 shares during the last quarter. 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.