Intra-Cellular Therapies (NASDAQ:ITCI) Sets New 1-Year High – Here’s Why

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) reached a new 52-week high on Thursday . The company traded as high as $128.03 and last traded at $128.02, with a volume of 240208 shares. The stock had previously closed at $127.97.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ITCI shares. Leerink Partnrs cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler reissued a “neutral” rating and set a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Needham & Company LLC reissued a “hold” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, January 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $132.00 target price (up previously from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Finally, Canaccord Genuity Group cut shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and raised their target price for the company from $119.00 to $132.00 in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Intra-Cellular Therapies presently has an average rating of “Moderate Buy” and a consensus price target of $103.62.

Intra-Cellular Therapies Price Performance

The firm’s fifty day simple moving average is $104.06 and its 200 day simple moving average is $87.27. The company has a market capitalization of $13.61 billion, a price-to-earnings ratio of -147.20 and a beta of 0.72.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Several institutional investors have recently made changes to their positions in ITCI. True Wealth Design LLC acquired a new stake in shares of Intra-Cellular Therapies during the third quarter worth approximately $32,000. GAMMA Investing LLC boosted its holdings in shares of Intra-Cellular Therapies by 46.3% during the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 240 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Intra-Cellular Therapies during the third quarter worth approximately $74,000. Venturi Wealth Management LLC acquired a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth approximately $96,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Intra-Cellular Therapies during the third quarter worth approximately $97,000. 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.