Intra-Cellular Therapies (NASDAQ:ITCI) Reaches New 12-Month High – Still a Buy?

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) hit a new 52-week high during trading on Wednesday . The stock traded as high as $129.38 and last traded at $128.59, with a volume of 1005 shares trading hands. The stock had previously closed at $128.58.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ITCI. Needham & Company LLC reissued a “hold” rating on shares of Intra-Cellular Therapies in a research report on Friday, February 21st. Cantor Fitzgerald raised Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $132.00 price objective (up from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Leerink Partnrs cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, 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. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $106.08.

Intra-Cellular Therapies Trading Down 0.1 %

The stock has a 50 day simple moving average of $111.14 and a 200 day simple moving average of $90.22. The stock has a market cap of $13.66 billion, a P/E ratio of -147.69 and a beta of 0.72.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Friday, February 21st. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The company had revenue of $199.22 million for the quarter, compared to the consensus estimate of $205.08 million. Equities analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. This trade represents a 4.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of large investors have recently modified their holdings of ITCI. Norges Bank acquired a new stake in shares of Intra-Cellular Therapies in the 4th quarter valued at $268,347,000. Raymond James Financial Inc. acquired a new stake in shares of Intra-Cellular Therapies in the 4th quarter valued at $76,451,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Intra-Cellular Therapies by 266.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 678,000 shares of the biopharmaceutical company’s stock valued at $56,627,000 after acquiring an additional 493,000 shares in the last quarter. TimesSquare Capital Management LLC boosted its holdings in shares of Intra-Cellular Therapies by 91.8% during the 4th quarter. TimesSquare Capital Management LLC now owns 840,269 shares of the biopharmaceutical company’s stock valued at $70,179,000 after acquiring an additional 402,186 shares in the last quarter. Finally, Deep Track Capital LP boosted its holdings in shares of Intra-Cellular Therapies by 24.9% during the 4th quarter. Deep Track Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock valued at $167,040,000 after acquiring an additional 399,307 shares in the last quarter. Institutional investors and hedge funds 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.