Intra-Cellular Therapies (NASDAQ:ITCI) PT Raised to $107.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective lifted by research analysts at Canaccord Genuity Group from $100.00 to $107.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 46.33% from the company’s previous close.

Several other research firms also recently issued reports on ITCI. Mizuho lifted their price target on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $86.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. TD Cowen lifted their price target on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Robert W. Baird lifted their price target on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Finally, The Goldman Sachs Group raised their price objective on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.17.

Intra-Cellular Therapies Trading Down 1.2 %

Shares of ITCI stock opened at $73.12 on Tuesday. Intra-Cellular Therapies has a 52 week low of $45.50 and a 52 week high of $84.89. The company has a market cap of $7.08 billion, a PE ratio of -50.08 and a beta of 1.02. The company’s fifty day simple moving average is $69.44 and its 200-day simple moving average is $64.58.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $132.10 million for the quarter, compared to the consensus estimate of $135.97 million. During the same quarter in the previous year, the firm posted ($0.45) EPS. The firm’s quarterly revenue was up 50.3% on a year-over-year basis. Equities research analysts expect that Intra-Cellular Therapies will post -0.62 EPS for the current fiscal year.

Insider Activity

In other news, CEO Sharon Mates sold 20,565 shares of Intra-Cellular Therapies stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.21, for a total value of $1,341,043.65. 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 $68,490,649.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Sharon Mates sold 20,565 shares of Intra-Cellular Therapies stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.21, for a total value of $1,341,043.65. 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 $68,490,649.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Halstead sold 7,907 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.53, for a total transaction of $549,773.71. Following the transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,065,041. The disclosure for this sale can be found here. In the last three months, insiders sold 168,487 shares of company stock valued at $11,364,950. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ITCI. Global Retirement Partners LLC boosted its stake in Intra-Cellular Therapies by 13.8% during the 3rd quarter. Global Retirement Partners LLC now owns 1,753 shares of the biopharmaceutical company’s stock valued at $89,000 after purchasing an additional 213 shares during the period. SG Americas Securities LLC raised its position in shares of Intra-Cellular Therapies by 138.2% during the 3rd quarter. SG Americas Securities LLC now owns 59,439 shares of the biopharmaceutical company’s stock worth $3,096,000 after buying an additional 34,485 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Intra-Cellular Therapies by 13.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 17,400 shares of the biopharmaceutical company’s stock worth $906,000 after buying an additional 2,000 shares in the last quarter. Raymond James & Associates raised its position in shares of Intra-Cellular Therapies by 4.0% during the 3rd quarter. Raymond James & Associates now owns 149,445 shares of the biopharmaceutical company’s stock worth $7,785,000 after buying an additional 5,716 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Intra-Cellular Therapies by 1.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 404,329 shares of the biopharmaceutical company’s stock worth $21,061,000 after buying an additional 6,182 shares in the last quarter. 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.