Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Short Interest Update

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,880,000 shares, an increase of 8.0% from the November 30th total of 1,740,000 shares. Based on an average daily volume of 549,000 shares, the days-to-cover ratio is presently 3.4 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ITCI. Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $68.00 to $92.00 in a research report on Friday, September 6th. Royal Bank of Canada boosted their price target on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. raised their price objective on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intra-Cellular Therapies currently has a consensus rating of “Moderate Buy” and an average price target of $97.23.

Intra-Cellular Therapies Stock Up 0.0 %

Shares of ITCI stock opened at $83.52 on Wednesday. The firm has a market capitalization of $8.85 billion, a PE ratio of -96.00 and a beta of 0.95. The company has a 50 day moving average price of $84.77 and a 200-day moving average price of $78.27. Intra-Cellular Therapies has a 52 week low of $62.78 and a 52 week high of $93.45.

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

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies 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 sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Michael Halstead sold 22,869 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. True Wealth Design LLC purchased a new stake in shares of Intra-Cellular Therapies during the 3rd quarter valued at about $32,000. Capital Performance Advisors LLP bought a new stake in Intra-Cellular Therapies during the third quarter valued at approximately $74,000. Wilmington Savings Fund Society FSB purchased a new stake in Intra-Cellular Therapies during the third quarter valued at approximately $97,000. Quarry LP raised its position in Intra-Cellular Therapies by 260.0% in the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock worth $132,000 after acquiring an additional 1,300 shares during the period. Finally, Covestor Ltd boosted its stake in shares of Intra-Cellular Therapies by 40.4% during the 3rd quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 521 shares during the last quarter. 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.