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

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) reached a new 52-week high during trading on Friday . The company traded as high as $97.41 and last traded at $95.93, with a volume of 480957 shares traded. The stock had previously closed at $82.56.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ITCI shares. JPMorgan Chase & Co. increased their price objective 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. Royal Bank of Canada boosted their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. Morgan Stanley lifted their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $97.23.

Intra-Cellular Therapies Stock Up 16.0 %

The company has a 50 day simple moving average of $85.40 and a 200 day simple moving average of $78.64. The stock has a market cap of $10.15 billion, a price-to-earnings ratio of -110.08 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). The company had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business’s quarterly revenue was up 39.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.25) EPS. As a group, analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction 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 legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Intra-Cellular Therapies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITCI. True Wealth Design LLC acquired a new stake in shares of Intra-Cellular Therapies during the third quarter worth $32,000. GAMMA Investing LLC boosted its position in Intra-Cellular Therapies by 46.3% during the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock valued at $63,000 after acquiring an additional 240 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Intra-Cellular Therapies during the third quarter valued at $74,000. Wilmington Savings Fund Society FSB acquired a new stake in Intra-Cellular Therapies during the 3rd quarter worth about $97,000. Finally, Quarry LP raised its position in shares of Intra-Cellular Therapies by 260.0% in the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock worth $132,000 after acquiring an additional 1,300 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.