Intra-Cellular Therapies (NASDAQ:ITCI) Reaches New 52-Week High – Here’s What Happened

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $131.35 and last traded at $131.28, with a volume of 7155386 shares changing hands. The stock had previously closed at $128.20.

Analyst Ratings Changes

A number of brokerages recently issued reports on ITCI. Baird R W lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Cantor Fitzgerald upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Mizuho lowered shares of Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $140.00 to $132.00 in a report on Monday, February 24th. Piper Sandler reiterated a “neutral” rating and issued a $132.00 price objective (up previously from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday, January 14th. Finally, StockNews.com began coverage on shares of Intra-Cellular Therapies in a report on Tuesday. They issued a “hold” rating for the company. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Intra-Cellular Therapies presently has a consensus rating of “Hold” and a consensus target price of $106.08.

Intra-Cellular Therapies Trading Down 0.0 %

The firm’s 50-day moving average is $117.36 and its 200-day moving average is $92.79. The firm has a market cap of $13.95 billion, a price-to-earnings ratio of -150.79 and a beta of 0.72.

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

Institutional Trading of Intra-Cellular Therapies

Several hedge funds have recently bought and sold shares of ITCI. Accredited Wealth Management LLC acquired a new stake in Intra-Cellular Therapies in the 4th quarter valued at $28,000. True Wealth Design LLC purchased a new position in Intra-Cellular Therapies during the 3rd quarter worth $32,000. GAMMA Investing LLC boosted its holdings in Intra-Cellular Therapies by 46.3% during the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 240 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Intra-Cellular Therapies during the 3rd quarter worth $74,000. Finally, Venturi Wealth Management LLC purchased a new position in Intra-Cellular Therapies during the 4th quarter worth $96,000. Institutional investors and hedge funds 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.