Intra-Cellular Therapies (NASDAQ:ITCI) PT Raised to $90.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price increased by investment analysts at Needham & Company LLC from $82.00 to $90.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 21.61% from the stock’s previous close.

Several other research analysts have also commented on ITCI. TD Cowen lifted their price target on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Canaccord Genuity Group reduced their price target on Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Bank of America lifted their price target on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Mizuho boosted their price objective on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a “buy” rating in a report on Monday. Finally, The Goldman Sachs Group boosted their price objective on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Intra-Cellular Therapies has an average rating of “Moderate Buy” and an average target price of $88.58.

Intra-Cellular Therapies Stock Performance

Shares of ITCI stock opened at $74.01 on Monday. The stock’s fifty day moving average is $69.41 and its two-hundred day moving average is $64.52. The firm has a market capitalization of $7.16 billion, a P/E ratio of -50.69 and a beta of 1.02. Intra-Cellular Therapies has a fifty-two week low of $45.50 and a fifty-two week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.14. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The business had revenue of $132.10 million for the quarter, compared to analyst estimates of $135.97 million. During the same quarter in the previous year, the firm earned ($0.45) EPS. The company’s quarterly revenue was up 50.3% compared to the same quarter last year. On average, equities analysts forecast that Intra-Cellular Therapies will post -0.67 earnings per share for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 22,590 shares of Intra-Cellular Therapies stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $69.79, for a total value of $1,576,556.10. Following the completion of the transaction, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at approximately $73,301,065.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Intra-Cellular Therapies news, CFO Lawrence J. Hineline sold 13,337 shares of Intra-Cellular Therapies stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $69.43, for a total value of $925,987.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sharon Mates sold 22,590 shares of Intra-Cellular Therapies stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.79, for a total value of $1,576,556.10. Following the completion of the transaction, 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 a total of 168,487 shares of company stock valued at $11,364,950 in the last three months. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. PFG Investments LLC grew its position in shares of Intra-Cellular Therapies by 392.9% during the first quarter. PFG Investments LLC now owns 13,800 shares of the biopharmaceutical company’s stock worth $955,000 after buying an additional 11,000 shares in the last quarter. Raymond James & Associates grew its position in shares of Intra-Cellular Therapies by 12.4% during the first quarter. Raymond James & Associates now owns 156,046 shares of the biopharmaceutical company’s stock worth $10,798,000 after buying an additional 17,191 shares in the last quarter. Wasatch Advisors LP grew its position in shares of Intra-Cellular Therapies by 6.3% during the first quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock worth $266,748,000 after buying an additional 227,439 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Intra-Cellular Therapies by 14.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 16,651 shares of the biopharmaceutical company’s stock worth $1,152,000 after buying an additional 2,090 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Intra-Cellular Therapies during the fourth quarter worth about $26,000. 92.33% of the stock is owned by institutional investors and hedge funds.

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.