Intra-Cellular Therapies (NASDAQ:ITCI) Reaches New 12-Month High at $81.41

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as $81.41 and last traded at $81.04, with a volume of 2390811 shares changing hands. The stock had previously closed at $64.76.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ITCI. Mizuho lifted their price objective on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, February 16th. Needham & Company LLC reiterated a "buy" rating and issued a $82.00 price objective on shares of Intra-Cellular Therapies in a research report on Tuesday. Bank of America lifted their price objective on shares of Intra-Cellular Therapies from $74.00 to $82.00 and gave the company a "buy" rating in a research report on Tuesday, January 2nd. Cantor Fitzgerald reissued an "overweight" rating and set a $101.00 target price on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $86.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $81.42.

Intra-Cellular Therapies Stock Performance

The company's 50 day moving average price is $68.95 and its 200-day moving average price is $63.53. The company has a market cap of $7.73 billion, a price-to-earnings ratio of -54.68 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.14. The company had revenue of $132.10 million for the quarter, compared to analysts' expectations of $135.97 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The business's revenue was up 50.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.45) EPS. As a group, sell-side analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 22,590 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $69.79, for a total value of $1,576,556.10. Following the transaction, the chief executive officer now directly owns 1,050,309 shares of the company's stock, valued at $73,301,065.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sharon Mates sold 22,590 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the completion of the sale, the chief executive officer now directly owns 1,050,309 shares in the company, valued at $73,301,065.11. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Suresh K. Durgam sold 6,450 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total transaction of $429,312.00. Following the sale, the executive vice president now owns 16,170 shares of the company's stock, valued at $1,076,275.20. The disclosure for this sale can be found here. Insiders have sold a total of 236,404 shares of company stock valued at $15,792,460 over the last ninety days. Corporate insiders own 3.40% of the company's stock.

Institutional Trading of Intra-Cellular Therapies

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Intra-Cellular Therapies by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company's stock valued at $651,334,000 after acquiring an additional 554,577 shares during the last quarter. BlackRock Inc. raised its position in shares of Intra-Cellular Therapies by 13.1% in the first quarter. BlackRock Inc. now owns 6,470,417 shares of the biopharmaceutical company's stock valued at $395,924,000 after purchasing an additional 748,651 shares during the period. Wellington Management Group LLP bought a new position in shares of Intra-Cellular Therapies in the first quarter valued at approximately $248,502,000. Avoro Capital Advisors LLC bought a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at approximately $161,543,000. Finally, State Street Corp raised its position in shares of Intra-Cellular Therapies by 3.9% in the second quarter. State Street Corp now owns 2,105,705 shares of the biopharmaceutical company's stock valued at $133,333,000 after purchasing an additional 79,477 shares during the period. 92.33% of the stock is currently owned by institutional investors and hedge funds.

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.