Intra-Cellular Therapies, Inc. (NASDAQ:ITCI – Get Rating) was the recipient of a significant decrease in short interest in May. As of May 31st, there was short interest totalling 3,120,000 shares, a decrease of 18.8% from the May 15th total of 3,840,000 shares. Based on an average daily trading volume, of 874,100 shares, the days-to-cover ratio is presently 3.6 days.
Shares of NASDAQ:ITCI traded down $3.10 during midday trading on Thursday, hitting $53.43. The company’s stock had a trading volume of 692,457 shares, compared to its average volume of 1,046,567. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of -14.62 and a beta of 1.28. The stock’s 50 day simple moving average is $56.49 and its 200 day simple moving average is $52.32. Intra-Cellular Therapies has a fifty-two week low of $28.40 and a fifty-two week high of $66.00.
Intra-Cellular Therapies (NASDAQ:ITCI – Get Rating) last released its earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.15. The business had revenue of $35.00 million for the quarter, compared to the consensus estimate of $33.52 million. Intra-Cellular Therapies had a negative return on equity of 53.93% and a negative net margin of 294.89%. The firm’s revenue for the quarter was up 120.1% compared to the same quarter last year. During the same period last year, the business earned ($0.65) earnings per share. Analysts forecast that Intra-Cellular Therapies will post -2.95 EPS for the current fiscal year.
In related news, Director Rory B. Riggs sold 20,637 shares of the firm’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $61.18, for a total value of $1,262,571.66. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joel S. Marcus sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $55.00, for a total value of $550,000.00. Following the completion of the sale, the director now owns 54,233 shares in the company, valued at $2,982,815. The disclosure for this sale can be found here. Insiders have sold 116,985 shares of company stock worth $7,370,792 in the last 90 days. 13.20% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its stake in Intra-Cellular Therapies by 56.5% in the 1st quarter. Bank of America Corp DE now owns 188,560 shares of the biopharmaceutical company’s stock worth $11,537,000 after purchasing an additional 68,112 shares during the period. Verition Fund Management LLC raised its holdings in Intra-Cellular Therapies by 88.9% in the 1st quarter. Verition Fund Management LLC now owns 176,801 shares of the biopharmaceutical company’s stock valued at $10,818,000 after acquiring an additional 83,201 shares during the period. Walleye Capital LLC grew its position in shares of Intra-Cellular Therapies by 290.0% during the 1st quarter. Walleye Capital LLC now owns 69,719 shares of the biopharmaceutical company’s stock worth $4,266,000 after purchasing an additional 51,841 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Intra-Cellular Therapies by 34.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 20,133 shares of the biopharmaceutical company’s stock worth $1,232,000 after purchasing an additional 5,189 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC grew its position in shares of Intra-Cellular Therapies by 4.2% during the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 20,733 shares of the biopharmaceutical company’s stock worth $1,269,000 after purchasing an additional 836 shares in the last quarter. Institutional investors own 73.40% of the company’s stock.
Several analysts have recently commented on the company. UBS Group assumed coverage on Intra-Cellular Therapies in a research report on Monday. They issued a “buy” rating and a $75.00 target price for the company. Needham & Company LLC increased their price objective on Intra-Cellular Therapies from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, February 25th. Piper Sandler initiated coverage on Intra-Cellular Therapies in a report on Friday, April 22nd. They set a “neutral” rating and a $59.00 price objective for the company. StockNews.com initiated coverage on Intra-Cellular Therapies in a report on Thursday, March 31st. They set a “sell” rating for the company. Finally, SVB Leerink increased their price objective on Intra-Cellular Therapies from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, April 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $62.25.
Intra-Cellular Therapies Company Profile (Get Rating)
Intra-Cellular Therapies, Inc, a biopharmaceutical company, develops novel drugs for the treatment of neuropsychiatric and neurologic diseases by targeting intracellular signaling mechanisms within the central nervous system in the United States. The company offers CAPLYTA for the treatment of schizophrenia in adults.
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