Robert W. Baird Boosts Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $103.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective increased by Robert W. Baird from $83.00 to $103.00 in a research note published on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the biopharmaceutical company’s stock.

Several other equities analysts have also recently issued reports on ITCI. Cantor Fitzgerald reiterated an overweight rating and issued a $101.00 price objective on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. Bank of America boosted their target price on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a buy rating in a research note on Wednesday. Mizuho boosted their target price on Intra-Cellular Therapies from $76.00 to $82.00 and gave the stock 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. Finally, The Goldman Sachs Group boosted their target price on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a neutral rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $86.17.

Intra-Cellular Therapies Trading Up 0.5 %

Shares of ITCI opened at $72.37 on Wednesday. The stock has a 50-day simple moving average of $69.31 and a 200-day simple moving average of $63.87. 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 announced its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.14. The business had revenue of $132.10 million during the quarter, compared to analysts’ expectations of $135.97 million. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The business’s quarterly revenue was up 50.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.45) EPS. As a group, equities analysts predict that Intra-Cellular Therapies will post -0.69 earnings per share for the current 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

Institutional investors have recently modified their holdings of the stock. Quantum Private Wealth LLC increased its holdings in shares of Intra-Cellular Therapies by 64.7% in the fourth quarter. Quantum Private Wealth LLC now owns 23,705 shares of the biopharmaceutical company’s stock valued at $1,698,000 after purchasing an additional 9,308 shares during the period. HealthInvest Partners AB acquired a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at approximately $877,000. Phocas Financial Corp. acquired a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at approximately $1,949,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Intra-Cellular Therapies by 209.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 154,700 shares of the biopharmaceutical company’s stock valued at $8,058,000 after purchasing an additional 104,700 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Intra-Cellular Therapies by 36.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 974,914 shares of the biopharmaceutical company’s stock valued at $50,783,000 after purchasing an additional 259,424 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.