Intra-Cellular Therapies Inc. (ITCI) Clearly Signals Buy-Into the Stock: Don’t ignore the signals

Intra-Cellular Therapies Inc. (NASDAQ: ITCI) stock fell -2.04% on Monday to $53.91 against a previous-day closing price of $55.03. With 0.74 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.64 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $54.82 whereas the lowest price it dropped to was $52.75. The 52-week range on ITCI shows that it touched its highest point at $67.05 and its lowest point at $42.01 during that stretch. It currently has a 1-year price target of $78.00. Beta for the stock currently stands at 1.10.

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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 -8.13%, but this was down by -2.53% over a month. Three-month performance dropped to -15.70% while six-month performance rose 17.22%. The stock gained 6.69% in the past year, while it has gained 1.87% so far this year. A look at the trailing 12-month EPS for ITCI yields -1.94 with Next year EPS estimates of -0.69. For the next quarter, that number is -0.56. This implies an EPS growth rate of 22.10% for this year and 66.70% for next year.

Float and Shares Shorts:

At present, 95.95 million ITCI shares are outstanding with a float of 93.47 million shares on hand for trading. On Aug 30, 2023, short shares totaled 2.55 million, which was 2.66% higher than short shares on Jul 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 94.03% of ITCI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 54.18% of ITCI, in contrast to 34.39% held by mutual funds. Shares owned by individuals account for 12.92%. As the largest shareholder in ITCI with 11.62% of the stake, Fidelity Management & Research Co holds 11,169,305 shares worth 11,169,305. A second-largest stockholder of ITCI, The Vanguard Group, Inc., holds 8,234,656 shares, controlling over 8.57% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ITCI, holding 6,457,100 shares or 6.72% stake. With a 3.28% stake in ITCI, the BB Biotech AG is the largest stakeholder. A total of 3,150,000 shares are owned by the mutual fund manager. The Fidelity Growth Company Fund, which owns about 3.05% of ITCI stock, is the second-largest Mutual Fund holder. It holds 2,933,339 shares valued at 162.86 million. Vanguard Total Stock Market ETF holds 2.78% of the stake in ITCI, owning 2,670,176 shares worth 148.25 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ITCI reported revenue of $55.07M and operating income of -$87.92M. The EBITDA in the recently reported quarter was -$87.92M and diluted EPS was -$0.92.

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 $100.00 and a low target of $59.00, the average target price over the next 12 months is $78.67. Based on these targets, ITCI could surge 85.49% to reach the target high and rise by 9.44% to reach the target low. Reaching the average price target will result in a growth of 45.93% 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 3 Buys and 2 Sells. In these transactions, 55,664 shares were bought while 57,142 shares were sold. The number of buy transactions has increased to 38 while that of sell transactions has risen to 58 over the past year. The total number of shares bought during that period was 629,665 while 612,925 shares were sold.

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