Intra-Cellular Therapies (NASDAQ:ITCI) Shares Gap Down to $76.69

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) gapped down prior to trading on Thursday . The stock had previously closed at $76.69, but opened at $74.40. Intra-Cellular Therapies shares last traded at $73.10, with a volume of 1,015,719 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ITCI shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $101.00 price target on shares of Intra-Cellular Therapies in a report on Friday, February 23rd. Mizuho increased their price objective on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Canaccord Genuity Group dropped their price objective on shares of Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Bank of America increased their price objective 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $86.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.17.

Intra-Cellular Therapies Stock Down 4.8 %

The stock has a market cap of $7.07 billion, a price-to-earnings ratio of -50.38 and a beta of 1.02. The stock’s fifty day moving average is $69.31 and its 200-day moving average is $63.82.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.14. The company had revenue of $132.10 million during 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 quarterly revenue was up 50.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.45) earnings per share. As a group, equities research analysts predict that Intra-Cellular Therapies, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 20,565 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the completion of the transaction, the chief executive officer now owns 1,050,309 shares in the company, valued at approximately $68,490,649.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Sharon Mates sold 20,565 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the completion of the transaction, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $68,490,649.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Suresh K. Durgam sold 6,450 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $66.56, for a total value of $429,312.00. Following the transaction, the executive vice president now directly owns 16,170 shares of the company’s stock, valued at approximately $1,076,275.20. The disclosure for this sale can be found here. Insiders sold 168,487 shares of company stock worth $11,364,950 over the last quarter. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. boosted its stake in Intra-Cellular Therapies by 14.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 16,651 shares of the biopharmaceutical company’s stock worth $1,152,000 after buying an additional 2,090 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Intra-Cellular Therapies in the fourth quarter worth approximately $26,000. HighPoint Advisor Group LLC bought a new position in shares of Intra-Cellular Therapies in the fourth quarter worth approximately $217,000. Vanguard Group Inc. grew its holdings in shares of 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 worth $651,334,000 after purchasing an additional 554,577 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Intra-Cellular Therapies by 52.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 578,615 shares of the biopharmaceutical company’s stock worth $41,440,000 after purchasing an additional 199,503 shares during the last quarter. Hedge funds and other institutional investors 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.