Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Given Average Recommendation of “Moderate Buy” by Brokerages

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $96.58.

Several analysts have weighed in on ITCI shares. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, August 7th. Piper Sandler upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $68.00 to $92.00 in a report on Friday, September 6th. The Goldman Sachs Group decreased their price objective on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Mizuho increased their price objective on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Finally, Canaccord Genuity Group raised their target price on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, June 20th.

Intra-Cellular Therapies Stock Up 0.2 %

ITCI stock opened at $75.38 on Wednesday. Intra-Cellular Therapies has a 52 week low of $45.50 and a 52 week high of $84.89. The stock has a market capitalization of $7.97 billion, a PE ratio of -64.98 and a beta of 1.00. The firm has a 50 day moving average of $75.66 and a 200 day moving average of $71.24.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.03. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The business had revenue of $161.40 million during the quarter, compared to the consensus estimate of $157.74 million. During the same period in the previous year, the firm posted ($0.45) earnings per share. The business’s revenue for the quarter was up 45.7% compared to the same quarter last year. On average, equities research analysts expect that Intra-Cellular Therapies will post -0.59 earnings per share for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, EVP Mark Neumann sold 18,714 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the sale, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $75.08, for a total transaction 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 approximately $2,229,876. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Rory B. Riggs sold 4,462 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $75.57, for a total value of $337,193.34. Following the transaction, the director now owns 116,600 shares in the company, valued at approximately $8,811,462. The disclosure for this sale can be found here. Over the last quarter, insiders sold 199,778 shares of company stock valued at $14,892,738. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ITCI. Oak Ridge Investments LLC acquired a new position in Intra-Cellular Therapies during the second quarter worth about $811,000. Perceptive Advisors LLC acquired a new position in Intra-Cellular Therapies in the 4th quarter valued at about $7,735,000. SG Americas Securities LLC grew its stake in shares of Intra-Cellular Therapies by 962.7% in the 2nd quarter. SG Americas Securities LLC now owns 48,778 shares of the biopharmaceutical company’s stock valued at $3,341,000 after buying an additional 44,188 shares during the period. Schroder Investment Management Group increased its holdings in shares of Intra-Cellular Therapies by 36.7% during the 4th quarter. Schroder Investment Management Group now owns 779,823 shares of the biopharmaceutical company’s stock worth $55,851,000 after buying an additional 209,331 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of Intra-Cellular Therapies by 12.3% during the 1st quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock worth $120,723,000 after buying an additional 191,416 shares during the last quarter. Institutional investors and hedge funds 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.