Intra-Cellular Therapies (NASDAQ:ITCI) Hits New 1-Year High – Should You Buy?

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $131.40 and last traded at $131.30, with a volume of 1500320 shares. The stock had previously closed at $131.36.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ITCI. Mizuho cut shares of Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $140.00 to $132.00 in a report on Monday, February 24th. Piper Sandler restated a “neutral” rating and issued a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday, January 14th. Baird R W cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. StockNews.com began coverage on shares of Intra-Cellular Therapies in a report on Wednesday, March 12th. They issued a “hold” rating on the stock. Finally, Leerink Partnrs cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $106.08.

Intra-Cellular Therapies Price Performance

The firm has a market cap of $13.98 billion, a PE ratio of -151.09 and a beta of 0.69. The firm has a 50-day simple moving average of $125.91 and a 200 day simple moving average of $96.52.

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

Hedge Funds Weigh In On Intra-Cellular Therapies

Several institutional investors and hedge funds have recently added to or reduced their stakes in ITCI. Atria Investments Inc raised its position in shares of Intra-Cellular Therapies by 41.1% in the 3rd quarter. Atria Investments Inc now owns 5,137 shares of the biopharmaceutical company’s stock worth $376,000 after purchasing an additional 1,497 shares during the last quarter. KBC Group NV raised its position in shares of Intra-Cellular Therapies by 17.3% in the 3rd quarter. KBC Group NV now owns 2,864 shares of the biopharmaceutical company’s stock worth $210,000 after purchasing an additional 423 shares during the last quarter. CIBC Asset Management Inc purchased a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth about $205,000. Swiss National Bank increased its holdings in Intra-Cellular Therapies by 8.1% in the 3rd quarter. Swiss National Bank now owns 185,500 shares of the biopharmaceutical company’s stock worth $13,573,000 after buying an additional 13,900 shares in the last quarter. Finally, LMR Partners LLP increased its holdings in Intra-Cellular Therapies by 96.2% in the 3rd quarter. LMR Partners LLP now owns 31,177 shares of the biopharmaceutical company’s stock worth $2,281,000 after buying an additional 15,288 shares in the last quarter. 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.