Intra-Cellular Therapies (NASDAQ:ITCI) Reaches New 12-Month High – Still a Buy?

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) reached a new 52-week high on Wednesday . The stock traded as high as $129.38 and last traded at $128.59, with a volume of 1005 shares changing hands. The stock had previously closed at $128.58.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ITCI. Cantor Fitzgerald raised Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Canaccord Genuity Group downgraded Intra-Cellular Therapies from a “buy” rating to a “hold” rating and raised their price objective for the company from $119.00 to $132.00 in a report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Intra-Cellular Therapies in a report on Friday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $132.00 price target (up previously from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Finally, Mizuho lowered Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $140.00 to $132.00 in a research report on Monday. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $106.08.

Intra-Cellular Therapies Stock Performance

The company has a market capitalization of $13.66 billion, a price-to-earnings ratio of -147.69 and a beta of 0.72. The business has a 50 day moving average price of $111.14 and a 200-day moving average price of $90.22.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). The business had revenue of $199.22 million during the quarter, compared to analyst estimates of $205.08 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. As a group, equities analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Insider Activity

In related news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ITCI. Norges Bank acquired a new position in Intra-Cellular Therapies during the 4th quarter worth approximately $268,347,000. Raymond James Financial Inc. acquired a new position in Intra-Cellular Therapies during the 4th quarter worth approximately $76,451,000. Adage Capital Partners GP L.L.C. raised its stake in Intra-Cellular Therapies by 266.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 678,000 shares of the biopharmaceutical company’s stock worth $56,627,000 after buying an additional 493,000 shares during the period. TimesSquare Capital Management LLC raised its stake in Intra-Cellular Therapies by 91.8% during the 4th quarter. TimesSquare Capital Management LLC now owns 840,269 shares of the biopharmaceutical company’s stock worth $70,179,000 after buying an additional 402,186 shares during the period. Finally, Deep Track Capital LP raised its stake in Intra-Cellular Therapies by 24.9% during the 4th quarter. Deep Track Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock worth $167,040,000 after buying an additional 399,307 shares during the period. 92.33% of the stock is owned by institutional investors and hedge funds.

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.