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

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $131.40 and last traded at $131.30, with a volume of 1500320 shares. The stock had previously closed at $131.36.

Wall Street Analyst Weigh In

Several research firms have issued reports on ITCI. Needham & Company LLC reiterated a “hold” rating on shares of Intra-Cellular Therapies in a research note on Friday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $132.00 target price (up from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. StockNews.com started coverage on shares of Intra-Cellular Therapies in a research note on Wednesday, March 12th. They issued a “hold” rating on the stock. Baird R W cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Leerink Partnrs cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $106.08.

Intra-Cellular Therapies Stock Performance

The company has a market capitalization of $13.96 billion, a PE ratio of -150.89 and a beta of 0.69. The business’s 50-day moving average is $123.95 and its 200-day moving average is $95.70.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $205.08 million. Analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Institutional Trading of Intra-Cellular Therapies

A number of large investors have recently made changes to their positions in ITCI. China Universal Asset Management Co. Ltd. raised its position in shares of Intra-Cellular Therapies by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 22,480 shares of the biopharmaceutical company’s stock valued at $1,878,000 after purchasing an additional 2,157 shares during the period. Barclays PLC raised its position in shares of Intra-Cellular Therapies by 282.0% during the 3rd quarter. Barclays PLC now owns 34,453 shares of the biopharmaceutical company’s stock valued at $2,521,000 after purchasing an additional 25,435 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Intra-Cellular Therapies by 31.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock valued at $33,258,000 after acquiring an additional 109,892 shares in the last quarter. Oak Ridge Investments LLC grew its stake in Intra-Cellular Therapies by 74.1% during the fourth quarter. Oak Ridge Investments LLC now owns 19,831 shares of the biopharmaceutical company’s stock valued at $1,656,000 after acquiring an additional 8,440 shares in the last quarter. Finally, Cynosure Group LLC grew its stake in Intra-Cellular Therapies by 161.0% during the third quarter. Cynosure Group LLC now owns 14,442 shares of the biopharmaceutical company’s stock valued at $1,057,000 after acquiring an additional 8,909 shares in the last quarter. 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.