Intra-Cellular Therapies (NASDAQ:ITCI) Shares Gap Up to $68.87

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) shares gapped up before the market opened on Tuesday . The stock had previously closed at $68.87, but opened at $76.07. Intra-Cellular Therapies shares last traded at $71.86, with a volume of 843,807 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ITCI. The Goldman Sachs Group increased their price target on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $120.00 price target on shares of Intra-Cellular Therapies in a research note on Friday. Mizuho lifted their price target on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Canaccord Genuity Group lifted their price target on shares of Intra-Cellular Therapies from $100.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, Bank of America lifted 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 note on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Intra-Cellular Therapies currently has an average rating of “Moderate Buy” and an average target price of $91.50.

Intra-Cellular Therapies Trading Up 10.6 %

The business’s fifty day moving average price is $68.86 and its 200 day moving average price is $68.36. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of -63.78 and a beta of 0.98.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.15. The company had revenue of $144.90 million for the quarter, compared to analysts’ expectations of $141.41 million. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. Intra-Cellular Therapies’s revenue was up 52.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.46) EPS. As a group, sell-side analysts forecast that Intra-Cellular Therapies, Inc. will post -0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intra-Cellular Therapies

Several institutional investors have recently bought and sold shares of the company. Perceptive Advisors LLC acquired a new position in shares of Intra-Cellular Therapies during the 4th quarter worth $7,735,000. Quantum Private Wealth LLC grew its stake in shares of Intra-Cellular Therapies by 64.7% during the 4th quarter. Quantum Private Wealth LLC now owns 23,705 shares of the biopharmaceutical company’s stock worth $1,698,000 after purchasing an additional 9,308 shares during the period. Schroder Investment Management Group grew its stake 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 purchasing an additional 209,331 shares during the period. HealthInvest Partners AB acquired a new position in shares of Intra-Cellular Therapies during the 4th quarter worth $877,000. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of Intra-Cellular Therapies during the 4th quarter worth $4,473,000. 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.