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

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) shares gapped down before the market opened 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.

Analysts Set New Price Targets

Several analysts have recently issued reports on ITCI shares. Canaccord Genuity Group reduced their target price on Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. TD Cowen increased their target price on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and set a $101.00 target price on shares of Intra-Cellular Therapies in a report on Friday, February 23rd. Needham & Company LLC reissued a “buy” rating and set a $82.00 target price on shares of Intra-Cellular Therapies in a report on Tuesday. Finally, Robert W. Baird increased their target price on Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.17.

Intra-Cellular Therapies Price Performance

The stock has a market capitalization of $7.01 billion, a P/E ratio of -49.57 and a beta of 1.02. The firm has a 50-day simple moving average of $69.31 and a 200 day simple moving average of $63.87.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.14. The firm had revenue of $132.10 million during the quarter, compared to the consensus estimate of $135.97 million. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The business’s quarterly revenue was up 50.3% on a year-over-year basis. During the same period last year, the company earned ($0.45) earnings per share. Sell-side analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 22,590 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $69.79, for a total value 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Lawrence J. Hineline sold 10,121 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $65.96, for a total transaction of $667,581.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sharon Mates sold 22,590 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $69.79, for a total value of $1,576,556.10. Following the transaction, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $73,301,065.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,487 shares of company stock worth $11,364,950. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds have recently made changes to their positions in the stock. Quantum Private Wealth LLC raised its position in shares of Intra-Cellular Therapies by 64.7% during the fourth quarter. Quantum Private Wealth LLC now owns 23,705 shares of the biopharmaceutical company’s stock worth $1,698,000 after acquiring an additional 9,308 shares during the last quarter. HealthInvest Partners AB bought a new stake in Intra-Cellular Therapies in the fourth quarter worth approximately $877,000. Phocas Financial Corp. bought a new stake in Intra-Cellular Therapies in the fourth quarter worth approximately $1,949,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Intra-Cellular Therapies by 209.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 154,700 shares of the biopharmaceutical company’s stock worth $8,058,000 after purchasing an additional 104,700 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Intra-Cellular Therapies by 36.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 974,914 shares of the biopharmaceutical company’s stock worth $50,783,000 after purchasing an additional 259,424 shares in the last quarter. 92.33% of the stock is currently owned by 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.