Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Sees Significant Decrease in Short Interest

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) saw a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 3,730,000 shares, a decrease of 6.8% from the May 31st total of 4,000,000 shares. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is presently 3.6 days.

Analyst Ratings Changes

ITCI has been the topic of several research reports. Robert W. Baird raised their price objective on Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Mizuho boosted their price objective on Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Needham & Company LLC raised their target price on shares of Intra-Cellular Therapies from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. TD Cowen upped their price target on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Bank of America raised their price objective on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $94.33.

Intra-Cellular Therapies Trading Up 0.8 %

NASDAQ ITCI opened at $69.07 on Thursday. The business’s 50 day moving average is $69.07 and its two-hundred day moving average is $69.11. The stock has a market capitalization of $7.29 billion, a price-to-earnings ratio of -59.54 and a beta of 1.01. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89.

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

Insider Buying and Selling at Intra-Cellular Therapies

In other news, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction on Monday, June 24th. The shares were sold at an average price of $75.57, for a total transaction of $337,193.34. Following the completion of the sale, the director now directly owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Rory B. Riggs sold 4,462 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $75.57, for a total transaction of $337,193.34. Following the completion of the sale, the director now owns 116,600 shares in the company, valued at $8,811,462. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Nostrand Robert L. Van sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the completion of the transaction, the director now owns 9,690 shares in the company, valued at $735,567.90. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

A number of institutional investors have recently added to or reduced their stakes in ITCI. Kapitalo Investimentos Ltda purchased a new stake in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $26,000. Headlands Technologies LLC purchased a new stake in Intra-Cellular Therapies during the first quarter worth $32,000. Signaturefd LLC grew its holdings in Intra-Cellular Therapies by 85.7% in the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 239 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Intra-Cellular Therapies during the 3rd quarter worth $45,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Intra-Cellular Therapies during the 1st quarter worth $53,000. Hedge funds and other institutional investors 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.