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

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $92.60 and last traded at $92.60, with a volume of 18512 shares. The stock had previously closed at $91.29.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. The Goldman Sachs Group dropped their target price on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley increased their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Royal Bank of Canada raised their price target on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $97.23.

Intra-Cellular Therapies Trading Down 3.4 %

The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of -101.71 and a beta of 0.97. The stock has a fifty day moving average price of $77.45 and a 200-day moving average price of $74.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The company had revenue of $175.40 million for the quarter, compared to analyst estimates of $172.30 million. During the same quarter in the prior year, the company earned ($0.25) earnings per share. The business’s revenue was up 39.0% compared to the same quarter last year. On average, equities analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 34,396 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Sharon Mates sold 34,396 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $77,962,764.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Neumann sold 18,714 shares of Intra-Cellular Therapies stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,229,876. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 175,316 shares of company stock worth $13,037,345 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Several hedge funds have recently modified their holdings of the stock. Oak Ridge Investments LLC bought a new position in Intra-Cellular Therapies in the 2nd quarter worth approximately $811,000. SG Americas Securities LLC lifted its stake in shares of Intra-Cellular Therapies by 962.7% during the second quarter. SG Americas Securities LLC now owns 48,778 shares of the biopharmaceutical company’s stock valued at $3,341,000 after acquiring an additional 44,188 shares during the period. Clearbridge Investments LLC boosted its holdings in Intra-Cellular Therapies by 12.3% in the first quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock valued at $120,723,000 after acquiring an additional 191,416 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Intra-Cellular Therapies in the first quarter valued at about $18,379,000. Finally, Russell Investments Group Ltd. increased its position in Intra-Cellular Therapies by 232.0% in the first quarter. Russell Investments Group Ltd. now owns 50,845 shares of the biopharmaceutical company’s stock worth $3,519,000 after purchasing an additional 35,528 shares during the period. 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.