The Goldman Sachs Group Boosts Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $77.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective hoisted by investment analysts at The Goldman Sachs Group from $67.00 to $77.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 6.94% from the stock’s previous close.

Several other research firms have also weighed in on ITCI. Royal Bank of Canada restated an “outperform” rating and set a $86.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Mizuho raised their price objective on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Canaccord Genuity Group reduced their price objective on shares of Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Robert W. Baird started coverage on shares of Intra-Cellular Therapies in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $83.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 price objective on shares of Intra-Cellular Therapies in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $86.17.

Intra-Cellular Therapies Stock Down 6.1 %

Shares of ITCI opened at $72.00 on Wednesday. The firm has a 50-day moving average price of $69.31 and a 200 day moving average price of $63.82. The firm has a market capitalization of $6.97 billion, a PE ratio of -49.31 and a beta of 1.02. Intra-Cellular Therapies has a 52-week low of $45.50 and a 52-week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data 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. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The company had revenue of $132.10 million during the quarter, compared to analyst estimates of $135.97 million. During the same quarter last year, the firm posted ($0.45) EPS. The business’s revenue for the quarter was up 50.3% on a year-over-year basis. On average, equities analysts expect that Intra-Cellular Therapies will post -0.69 EPS for the current year.

Insider Transactions at Intra-Cellular Therapies

In other news, EVP Suresh K. Durgam sold 6,450 shares of the 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 sale, the executive vice president now directly owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Suresh K. Durgam sold 6,450 shares of the 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 sale, the executive vice president now directly owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sharon Mates sold 22,590 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the completion of the sale, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at $73,301,065.11. The disclosure for this sale can be found here. Insiders sold 168,487 shares of company stock valued at $11,364,950 over the last three months. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kapitalo Investimentos Ltda bought a new position in Intra-Cellular Therapies during the fourth quarter valued at approximately $26,000. Lazard Asset Management LLC bought a new position in Intra-Cellular Therapies during the second quarter valued at approximately $29,000. Signaturefd LLC raised its position in Intra-Cellular Therapies by 85.7% during the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 239 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Intra-Cellular Therapies during the third quarter valued at approximately $45,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in Intra-Cellular Therapies during the fourth quarter valued at approximately $47,000. Institutional investors own 92.33% of the company’s stock.

About Intra-Cellular Therapies

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.