Intra-Cellular Therapies (NASDAQ:ITCI) Trading Down 2.7%

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)’s share price was down 2.7% during mid-day trading on Wednesday . The company traded as low as $76.50 and last traded at $77.66. 193,291 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 833,862 shares. The stock had previously closed at $79.84.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Bank of America raised their price target on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $82.00 price target on shares of Intra-Cellular Therapies in a research report on Tuesday. TD Cowen lifted their price objective on Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Finally, Mizuho boosted their price target on Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intra-Cellular Therapies presently has a consensus rating of “Moderate Buy” and an average price target of $86.17.

Intra-Cellular Therapies Price Performance

The firm has a 50 day moving average of $69.31 and a two-hundred day moving average of $63.82.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The firm had revenue of $132.10 million during the quarter, compared to analysts’ expectations of $135.97 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The business’s revenue for the quarter was up 50.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.45) earnings per share. Equities analysts predict that Intra-Cellular Therapies, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 22,590 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the completion of the transaction, the chief executive officer now directly owns 1,050,309 shares in the company, valued at $73,301,065.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sharon Mates sold 22,590 shares of Intra-Cellular Therapies stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the sale, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at $73,301,065.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Lawrence J. Hineline sold 10,121 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $65.96, for a total value of $667,581.16. The disclosure for this sale can be found here. Insiders sold a total of 168,487 shares of company stock valued at $11,364,950 in the last quarter. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

Several large investors have recently modified their holdings of ITCI. Kapitalo Investimentos Ltda acquired a new stake in Intra-Cellular Therapies in the fourth quarter valued at $26,000. Lazard Asset Management LLC acquired a new stake in shares of Intra-Cellular Therapies in the second quarter valued at about $29,000. Signaturefd LLC increased its stake in shares of Intra-Cellular Therapies by 85.7% in the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 239 shares during the period. Neo Ivy Capital Management bought a new position in shares of Intra-Cellular Therapies during the third quarter worth about $45,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in shares of Intra-Cellular Therapies in the fourth quarter worth approximately $47,000. Institutional investors 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.