Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $96.75.

A number of equities research analysts recently commented on ITCI shares. UBS Group lowered their price objective on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Mizuho raised their price objective on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Canaccord Genuity Group upped their target price on Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their target price for the company from $68.00 to $92.00 in a report on Friday, September 6th.

Intra-Cellular Therapies Trading Up 0.9 %

ITCI stock opened at $72.89 on Friday. The company has a market cap of $7.70 billion, a price-to-earnings ratio of -62.84 and a beta of 1.00. The firm has a 50 day moving average of $74.85 and a 200-day moving average of $72.04. 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 issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.03. The firm had revenue of $161.40 million during the quarter, compared to analysts’ expectations of $157.74 million. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. Intra-Cellular Therapies’s revenue was up 45.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.45) earnings per share. Sell-side analysts forecast that Intra-Cellular Therapies will post -0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the sale, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sharon Mates sold 53,013 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $80,970,388.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Neumann sold 18,714 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at $2,229,876. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 175,316 shares of company stock valued at $13,037,345 in the last quarter. 3.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Institutional investors have recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda purchased a new stake in Intra-Cellular Therapies during the fourth quarter worth approximately $26,000. Headlands Technologies LLC purchased a new stake in Intra-Cellular Therapies during the 1st quarter worth $32,000. Fidelis Capital Partners LLC acquired a new stake in Intra-Cellular Therapies in the 1st quarter valued at $53,000. Summit Securities Group LLC acquired a new stake in Intra-Cellular Therapies in the 2nd quarter valued at $56,000. Finally, CWM LLC raised its position in Intra-Cellular Therapies by 83.9% in the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 626 shares during the period. Hedge funds and other institutional investors 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.