Intra-Cellular Therapies (NASDAQ:ITCI) Shares Gap Up – What’s Next?

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) gapped up before the market opened on Monday . The stock had previously closed at $94.87, but opened at $127.95. Intra-Cellular Therapies shares last traded at $126.98, with a volume of 9,146,297 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ITCI shares. Baird R W cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday. Morgan Stanley boosted their price target on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Cantor Fitzgerald upgraded Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Monday. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.31.

Intra-Cellular Therapies Trading Down 0.2 %

The company’s 50-day moving average is $87.14 and its 200-day moving average is $79.68. The firm has a market cap of $13.45 billion, a price-to-earnings ratio of -145.85 and a beta of 0.70.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. During the same period in the prior year, the business posted ($0.25) EPS. The company’s revenue for the quarter was up 39.0% compared to the same quarter last year. Equities research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Insider Activity at Intra-Cellular Therapies

In related news, President Michael Halstead sold 22,869 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several hedge funds have recently modified their holdings of ITCI. True Wealth Design LLC acquired a new position in Intra-Cellular Therapies in the 3rd quarter worth about $32,000. GAMMA Investing LLC grew its holdings in shares of Intra-Cellular Therapies by 46.3% during the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 240 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Intra-Cellular Therapies in the third quarter valued at approximately $74,000. Wilmington Savings Fund Society FSB bought a new position in Intra-Cellular Therapies in the 3rd quarter valued at approximately $97,000. Finally, Quarry LP boosted its position in Intra-Cellular Therapies by 260.0% during the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 1,300 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.

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.