Intra-Cellular Therapies (NASDAQ:ITCI) Shares Gap Up to $67.30

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $67.30, but opened at $70.00. Intra-Cellular Therapies shares last traded at $66.65, with a volume of 117,619 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently commented on ITCI. Mizuho increased their price target on Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $120.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, April 24th. Bank of America lifted their target price on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Robert W. Baird upped their target price on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group boosted their price target on Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.17.

Intra-Cellular Therapies Stock Performance

The business has a 50 day moving average price of $68.84 and a two-hundred day moving average price of $67.00. The company has a market cap of $7.06 billion, a P/E ratio of -57.32 and a beta of 1.01.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.15. The company had revenue of $144.90 million during the quarter, compared to analyst estimates of $141.41 million. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. The firm’s revenue was up 52.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.46) EPS. As a group, research analysts expect that Intra-Cellular Therapies, Inc. will post -0.53 EPS for the current year.

Insider Buying and Selling

In other news, Director Joel S. Marcus sold 26,328 shares of Intra-Cellular Therapies stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the sale, the director now owns 39,662 shares of the company’s stock, valued at approximately $2,723,986.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $1,576,556.10. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joel S. Marcus sold 26,328 shares of Intra-Cellular Therapies stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $68.68, for a total value of $1,808,207.04. Following the completion of the transaction, the director now directly owns 39,662 shares of the company’s stock, valued at approximately $2,723,986.16. The disclosure for this sale can be found here. Insiders sold 168,487 shares of company stock valued at $11,364,950 over the last quarter. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of hedge funds have recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda purchased a new stake in shares of Intra-Cellular Therapies during the fourth quarter valued at $26,000. Headlands Technologies LLC purchased a new stake in Intra-Cellular Therapies during the first quarter valued at $32,000. Signaturefd LLC boosted its position in Intra-Cellular Therapies by 85.7% in the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 239 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Intra-Cellular Therapies in the 1st quarter worth approximately $53,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Intra-Cellular Therapies in the third quarter worth approximately $45,000. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

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.