Intra-Cellular Therapies Inc. [NASDAQ: ITCI] stock went on an upward path that rose over 1.45% on Wednesday, amounting to a one-week price decrease of less than -12.42%. The company report on January 4, 2022 that Intra-Cellular Therapies Prices Public Offering of Common Stock.
Intra-Cellular Therapies, Inc. (Nasdaq: ITCI), a biopharmaceutical company focused on the development and commercialization of therapeutics for central nervous system (CNS) disorders, today announced the pricing of its previously announced underwritten public offering of 9,523,810 shares of its common stock at a public offering price of $42.00 per share. All of the shares in the offering will be sold by Intra-Cellular Therapies, with gross proceeds to Intra-Cellular Therapies expected to be $400.0 million before deducting underwriting discounts and commissions and offering expenses. Intra-Cellular Therapies has granted the underwriters a 30-day option to purchase up to an additional 1,428,571 shares on the same terms and conditions. The offering is expected to close on January 7, 2022, subject to the satisfaction of customary closing conditions.
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J.P. Morgan, SVB Leerink, BofA Securities, Evercore ISI and RBC Capital Markets are acting as joint book-running managers for the offering. Cantor and Canaccord Genuity are acting as co-lead managers for the offering. Needham & Company is acting as co-manager for the offering.
Over the last 12 months, ITCI stock rose by 37.95%. The one-year Intra-Cellular Therapies Inc. stock forecast points to a potential upside of 24.86. The average equity rating for ITCI stock is currently 1.50, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.68 billion, with 81.36 million shares outstanding and 77.48 million shares in the current float. Compared to the average trading volume of 715.33K shares, ITCI stock reached a trading volume of 7173883 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Intra-Cellular Therapies Inc. [ITCI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ITCI shares is $60.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ITCI stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Needham have made an estimate for Intra-Cellular Therapies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 23, 2021. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on December 15, 2020, representing the official price target for Intra-Cellular Therapies Inc. stock. Previously, the target price had yet another raise to $38, while Goldman analysts kept a Buy rating on ITCI stock.
The Average True Range (ATR) for Intra-Cellular Therapies Inc. is set at 3.58, with the Price to Sales ratio for ITCI stock in the period of the last 12 months amounting to 52.10. The Price to Book ratio for the last quarter was 7.58, with the Price to Cash per share for the same quarter was set at 5.88.
ITCI Stock Performance Analysis:
Intra-Cellular Therapies Inc. [ITCI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.42. With this latest performance, ITCI shares gained by 28.78% in over the last four-week period, additionally plugging by 12.37% over the last 6 months – not to mention a rise of 37.95% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ITCI stock in for the last two-week period is set at 50.00, with the RSI for the last a single of trading hit 44.60, and the three-weeks RSI is set at 52.10 for Intra-Cellular Therapies Inc. [ITCI]. The present Moving Average for the last 50 days of trading for this stock 43.11, while it was recorded at 49.30 for the last single week of trading, and 37.89 for the last 200 days.
Insight into Intra-Cellular Therapies Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Intra-Cellular Therapies Inc. [ITCI] shares currently have an operating margin of -1013.58 and a Gross Margin at +91.69. Intra-Cellular Therapies Inc.’s Net Margin is presently recorded at -995.07.
Return on Total Capital for ITCI is now -51.15, given the latest momentum, and Return on Invested Capital for the company is -50.70. Return on Equity for this stock declined to -53.30, with Return on Assets sitting at -46.88. When it comes to the capital structure of this company, Intra-Cellular Therapies Inc. [ITCI] has a Total Debt to Total Equity ratio set at 4.44. Additionally, ITCI Total Debt to Total Capital is recorded at 4.25, with Total Debt to Total Assets ending up at 4.06. Long-Term Debt to Equity for the company is recorded at 3.59, with the Long-Term Debt to Total Capital now at 3.44.
Reflecting on the efficiency of the workforce at the company, Intra-Cellular Therapies Inc. [ITCI] managed to generate an average of -$592,704 per employee. Receivables Turnover for the company is 4.24 with a Total Asset Turnover recorded at a value of 0.05.Intra-Cellular Therapies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.50 and a Current Ratio set at 10.70.
Intra-Cellular Therapies Inc. [ITCI] Insider Position Details
There are presently around $3,034 million, or 91.90% of ITCI stock, in the hands of institutional investors. The top three institutional holders of ITCI stocks are: FMR LLC with ownership of 11,080,996, which is approximately -8.594% of the company’s market cap and around 1.50% of the total institutional ownership; WASATCH ADVISORS INC, holding 8,123,004 shares of the stock with an approximate value of $362.94 million in ITCI stocks shares; and VANGUARD GROUP INC, currently with $307.92 million in ITCI stock with ownership of nearly 0.925% of the company’s market capitalization.
Positions in Intra-Cellular Therapies Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 95 institutional holders increased their position in Intra-Cellular Therapies Inc. [NASDAQ:ITCI] by around 5,466,754 shares. Additionally, 72 investors decreased positions by around 4,205,899 shares, while 33 investors held positions by with 58,243,611 shares. The mentioned changes placed institutional holdings at 67,916,264 shares, according to the latest SEC report filing. ITCI stock had 19 new institutional investments in for a total of 463,714 shares, while 27 institutional investors sold positions of 867,801 shares during the same period.