Intra-Cellular Therapies (NASDAQ:ITCI) Hits New 1-Year High – Still a Buy?

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $128.03 and last traded at $128.02, with a volume of 240208 shares changing hands. The stock had previously closed at $127.97.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Baird R W lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. JPMorgan Chase & Co. increased their price target on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Cantor Fitzgerald raised Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Canaccord Genuity Group lowered Intra-Cellular Therapies from a “buy” rating to a “hold” rating and increased their target price for the stock from $119.00 to $132.00 in a research report on Friday, January 31st. Finally, Needham & Company LLC restated a “hold” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.62.

Intra-Cellular Therapies Stock Down 0.2 %

The firm has a fifty day moving average price of $105.80 and a two-hundred day moving average price of $87.90. The stock has a market capitalization of $13.59 billion, a P/E ratio of -146.92 and a beta of 0.72.

Insider Transactions at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $91,834,228.20. The trade was a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Several institutional investors have recently added to or reduced their stakes in ITCI. CWM LLC boosted its position in shares of Intra-Cellular Therapies by 867.5% during the third quarter. CWM LLC now owns 13,274 shares of the biopharmaceutical company’s stock valued at $971,000 after buying an additional 11,902 shares during the last quarter. Inspire Investing LLC lifted its stake in Intra-Cellular Therapies by 10.4% during the 3rd quarter. Inspire Investing LLC now owns 5,606 shares of the biopharmaceutical company’s stock valued at $410,000 after acquiring an additional 528 shares during the period. nVerses Capital LLC purchased a new stake in shares of Intra-Cellular Therapies during the 3rd quarter valued at about $285,000. Raymond James & Associates grew its stake in shares of Intra-Cellular Therapies by 2.8% in the third quarter. Raymond James & Associates now owns 158,852 shares of the biopharmaceutical company’s stock worth $11,623,000 after acquiring an additional 4,325 shares during the period. Finally, Cetera Trust Company N.A raised its holdings in shares of Intra-Cellular Therapies by 24.8% during the third quarter. Cetera Trust Company N.A now owns 2,520 shares of the biopharmaceutical company’s stock valued at $184,000 after purchasing an additional 500 shares during the last quarter. 92.33% of the stock is currently owned by hedge funds and other 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.