Bank of America Raises Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $91.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective boosted by investment analysts at Bank of America from $82.00 to $91.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s target price points to a potential upside of 26.39% from the company’s current price.

Several other equities analysts have also recently issued reports on ITCI. Mizuho lifted their price objective on Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Royal Bank of Canada restated an “outperform” rating and set a $86.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $101.00 target price on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. Canaccord Genuity Group decreased their target price on Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $82.00 target price on shares of Intra-Cellular Therapies in a research note on Tuesday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.17.

Intra-Cellular Therapies Price Performance

NASDAQ ITCI opened at $72.00 on Wednesday. The company has a market cap of $6.97 billion, a P/E ratio of -49.31 and a beta of 1.02. The stock has a 50-day moving average of $69.31 and a two-hundred day moving average of $63.82. Intra-Cellular Therapies has a 1-year low of $45.50 and a 1-year high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.14. The company had revenue of $132.10 million during the quarter, compared to the consensus estimate of $135.97 million. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. Intra-Cellular Therapies’s revenue was up 50.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.45) EPS. On average, analysts anticipate that Intra-Cellular Therapies will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total value of $429,312.00. Following the completion of the sale, the executive vice president now owns 16,170 shares in the company, valued at $1,076,275.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Michael Halstead sold 7,907 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $69.53, for a total value of $549,773.71. Following the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at $2,065,041. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Suresh K. Durgam sold 6,450 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value of $429,312.00. Following the completion of the transaction, the executive vice president now directly owns 16,170 shares in the company, valued at approximately $1,076,275.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,487 shares of company stock worth $11,364,950. 3.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP increased its holdings in shares of Intra-Cellular Therapies by 6.3% in the first quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock valued at $266,748,000 after purchasing an additional 227,439 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Intra-Cellular Therapies by 14.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 16,651 shares of the biopharmaceutical company’s stock valued at $1,152,000 after purchasing an additional 2,090 shares during the period. Kapitalo Investimentos Ltda acquired a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at approximately $26,000. HighPoint Advisor Group LLC acquired a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at approximately $217,000. Finally, Vanguard Group Inc. increased its holdings in shares of Intra-Cellular Therapies by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock valued at $651,334,000 after purchasing an additional 554,577 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.

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.