Short Interest in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Grows By 44.4%

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) saw a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 2,310,000 shares, a growth of 44.4% from the January 31st total of 1,600,000 shares. Based on an average trading volume of 2,460,000 shares, the days-to-cover ratio is currently 0.9 days.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ITCI. Piper Sandler reiterated a “neutral” rating and set a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday, January 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intra-Cellular Therapies in a research report on Friday, February 21st. Baird R W lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Leerink Partnrs lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Canaccord Genuity Group downgraded Intra-Cellular Therapies from a “buy” rating to a “hold” rating and increased their price target for the company from $119.00 to $132.00 in a report on Friday, January 31st. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $106.08.

Intra-Cellular Therapies Stock Performance

Shares of ITCI opened at $131.24 on Wednesday. Intra-Cellular Therapies has a one year low of $63.30 and a one year high of $131.36. The stock has a 50-day moving average price of $116.44 and a 200 day moving average price of $92.52. The company has a market capitalization of $13.95 billion, a P/E ratio of -150.85 and a beta of 0.72.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. As a group, equities research analysts forecast that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Intra-Cellular Therapies in the 4th quarter valued at about $7,951,000. GF Fund Management CO. LTD. acquired a new stake in Intra-Cellular Therapies during the fourth quarter valued at approximately $186,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Intra-Cellular Therapies by 3.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 335,319 shares of the biopharmaceutical company’s stock valued at $28,006,000 after buying an additional 12,111 shares in the last quarter. Two Sigma Advisers LP bought a new position in Intra-Cellular Therapies during the 4th quarter worth approximately $11,966,000. Finally, Two Sigma Investments LP grew its position in shares of Intra-Cellular Therapies by 507.9% in the 4th quarter. Two Sigma Investments LP now owns 142,791 shares of the biopharmaceutical company’s stock worth $11,926,000 after acquiring an additional 119,301 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors.

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.