A significant driver of top-line growth: Intra-Cellular Therapies Inc. (ITCI)

Intra-Cellular Therapies Inc. (NASDAQ: ITCI) stock fell -1.34% on Wednesday to $61.00 against a previous-day closing price of $61.83. With 0.56 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.88 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $62.22 whereas the lowest price it dropped to was $60.51. The 52-week range on ITCI shows that it touched its highest point at $66.56 and its lowest point at $42.01 during that stretch. It currently has a 1-year price target of $76.50. Beta for the stock currently stands at 1.12.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ITCI was down-trending over the past week, with a drop of -3.80%, but this was up by 0.35% over a month. Three-month performance surged to 28.02% while six-month performance rose 17.13%. The stock gained 4.43% in the past year, while it has gained 15.27% so far this year. A look at the trailing 12-month EPS for ITCI yields -2.41 with Next year EPS estimates of -0.62. For the next quarter, that number is -0.60. This implies an EPS growth rate of 22.10% for this year and 72.80% for next year.

Float and Shares Shorts:

At present, 95.14 million ITCI shares are outstanding with a float of 92.23 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.92 million, which was 3.04% higher than short shares on Mar 30, 2023. In addition to Dr. Sharon Mates Ph.D. as the firm’s Co-Founder, Chairman, CEO & Pres, Mr. Lawrence J. Hineline CPA, CPA serves as its Sr. VP of Fin., CFO, Treasurer & Assistant Sec.

Institutional Ownership:

Through their ownership of 93.96% of ITCI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.47% of ITCI, in contrast to 32.47% held by mutual funds. Shares owned by individuals account for 13.03%. As the largest shareholder in ITCI with 12.52% of the stake, Fidelity Management & Research Co holds 11,927,557 shares worth 11,927,557. A second-largest stockholder of ITCI, The Vanguard Group, Inc., holds 8,198,335 shares, controlling over 8.60% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ITCI, holding 6,169,834 shares or 6.48% stake. With a 3.37% stake in ITCI, the BB Biotech AG is the largest stakeholder. A total of 3,215,000 shares are owned by the mutual fund manager. The Fidelity Growth Company Fund, which owns about 3.10% of ITCI stock, is the second-largest Mutual Fund holder. It holds 2,953,043 shares valued at 183.53 million. Vanguard Total Stock Market ETF holds 2.78% of the stake in ITCI, owning 2,651,196 shares worth 164.77 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ITCI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ITCI analysts setting a high price target of $98.00 and a low target of $57.00, the average target price over the next 12 months is $73.79. Based on these targets, ITCI could surge 60.66% to reach the target high and fall by -6.56% to reach the target low. Reaching the average price target will result in a growth of 20.97% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded ITCI stock several times over the past three months with 13 Buys and 22 Sells. In these transactions, 169,436 shares were bought while 160,129 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has risen to 59 over the past year. The total number of shares bought during that period was 522,544 while 528,929 shares were sold.

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