Intra-Cellular Therapies (NASDAQ:ITCI) Sets New 12-Month High – Still a Buy?

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)’s share price hit a new 52-week high on Monday . The company traded as high as $131.67 and last traded at $131.66, with a volume of 1836929 shares. The stock had previously closed at $131.60.

Wall Street Analysts Forecast Growth

ITCI has been the topic of several research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $132.00 price objective (up from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Mizuho downgraded Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $140.00 to $132.00 in a report on Monday, February 24th. Cantor Fitzgerald upgraded Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Leerink Partnrs lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Canaccord Genuity Group downgraded shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and upped their target price for the company from $119.00 to $132.00 in a research note on Friday, January 31st. Ten equities 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $106.08.

Intra-Cellular Therapies Price Performance

The firm has a market capitalization of $14.00 billion, a price-to-earnings ratio of -151.38 and a beta of 0.69. The stock has a 50 day moving average of $128.79 and a 200 day moving average of $98.59.

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

Institutional Investors Weigh In On Intra-Cellular Therapies

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Intra-Cellular Therapies by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 9,721,360 shares of the biopharmaceutical company’s stock worth $811,928,000 after acquiring an additional 93,107 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of Intra-Cellular Therapies by 3.5% in the 3rd quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company’s stock worth $281,601,000 after purchasing an additional 130,351 shares during the last quarter. Norges Bank acquired a new position in Intra-Cellular Therapies during the 4th quarter valued at approximately $268,347,000. Invesco Ltd. grew its stake in Intra-Cellular Therapies by 2.9% during the 4th quarter. Invesco Ltd. now owns 3,077,174 shares of the biopharmaceutical company’s stock worth $257,006,000 after buying an additional 87,582 shares during the last quarter. Finally, Bellevue Group AG increased its position in Intra-Cellular Therapies by 0.6% in the third quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company’s stock worth $181,873,000 after buying an additional 14,342 shares during the period. Institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Company Profile

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.