Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Receives Average Recommendation of “Moderate Buy” from Analysts

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI – Get Rating) has received an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $69.40.

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Intra-Cellular Therapies from $59.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday. Needham & Company LLC restated a “buy” rating and set a $70.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, March 1st. Royal Bank of Canada lowered their target price on shares of Intra-Cellular Therapies from $75.00 to $71.00 and set an “outperform” rating for the company in a report on Thursday, March 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $83.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, February 1st. Finally, Mizuho lowered their target price on shares of Intra-Cellular Therapies from $72.00 to $66.00 in a research note on Friday, March 3rd.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 33,083 shares of the company’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $55.00, for a total value of $1,819,565.00. Following the completion of the sale, the chief executive officer now owns 1,100,309 shares in the company, valued at approximately $60,516,995. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Sharon Mates sold 33,083 shares of the firm’s stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $55.00, for a total value of $1,819,565.00. Following the transaction, the chief executive officer now owns 1,100,309 shares in the company, valued at $60,516,995. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Suresh K. Durgam sold 8,354 shares of Intra-Cellular Therapies stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $46.84, for a total transaction of $391,301.36. Following the completion of the sale, the senior vice president now owns 23,104 shares in the company, valued at approximately $1,082,191.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,832 shares of company stock worth $9,468,975. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE raised its holdings in shares of Intra-Cellular Therapies by 93.8% during the 2nd quarter. US Bancorp DE now owns 496 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 240 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Intra-Cellular Therapies during the fourth quarter valued at about $31,000. China Universal Asset Management Co. Ltd. purchased a new stake in Intra-Cellular Therapies in the third quarter valued at about $41,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Intra-Cellular Therapies in the fourth quarter worth about $47,000. Finally, Northern Oak Wealth Management Inc. purchased a new position in shares of Intra-Cellular Therapies in the second quarter worth about $51,000. 86.95% of the stock is currently owned by institutional investors.

Intra-Cellular Therapies Stock Down 0.5 %

Shares of ITCI stock opened at $44.00 on Friday. The company’s 50 day moving average is $48.44 and its 200 day moving average is $49.27. Intra-Cellular Therapies has a 52-week low of $42.01 and a 52-week high of $66.00. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of -16.18 and a beta of 1.13.

Intra-Cellular Therapies (NASDAQ:ITCI – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.17. The firm had revenue of $87.87 million for the quarter, compared to analyst estimates of $86.97 million. Intra-Cellular Therapies had a negative net margin of 102.37% and a negative return on equity of 35.88%. The business’s quarterly revenue was up 242.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.05) earnings per share. Analysts anticipate that Intra-Cellular Therapies will post -2.42 EPS for the current fiscal year.

About Intra-Cellular Therapies

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Intra-Cellular Therapies, Inc operates as a biopharmaceutical company. It focuses on the discovery and clinical development of small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system, or CNS.