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

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $94.83.

Several equities research analysts have weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $103.00 price objective on shares of Intra-Cellular Therapies in a research note on Tuesday, June 25th. JPMorgan Chase & Co. upped their target price on Intra-Cellular Therapies from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, June 12th. TD Cowen increased their price target on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Bank of America increased their price target on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Robert W. Baird increased their price target on Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th.

Intra-Cellular Therapies Trading Down 0.6 %

Shares of ITCI stock opened at $80.39 on Tuesday. The stock’s 50-day moving average price is $71.53 and its 200-day moving average price is $69.89. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of -69.30 and a beta of 1.01.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share 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 company had revenue of $144.90 million for the quarter, compared to analysts’ expectations of $141.41 million. During the same period in the previous year, the firm posted ($0.46) earnings per share. The firm’s revenue for the quarter was up 52.0% on a year-over-year basis. As a group, research analysts predict that Intra-Cellular Therapies will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently bought and sold shares of ITCI. Avoro Capital Advisors LLC bought a new stake in Intra-Cellular Therapies during the 4th quarter valued at $161,543,000. Norges Bank bought a new stake in Intra-Cellular Therapies during the 4th quarter valued at $85,744,000. Vanguard Group Inc. boosted its position in shares of Intra-Cellular Therapies by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock worth $651,334,000 after purchasing an additional 554,577 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Intra-Cellular Therapies by 56.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 763,974 shares of the biopharmaceutical company’s stock worth $54,716,000 after purchasing an additional 275,368 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Intra-Cellular Therapies in the 1st quarter worth $18,379,000. 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.