Cantor Fitzgerald Reaffirms Overweight Rating for Intra-Cellular Therapies (NASDAQ:ITCI)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report released on Wednesday, Benzinga reports. They currently have a $120.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald also issued estimates for Intra-Cellular Therapies’ FY2024 earnings at ($0.82) EPS.

A number of other brokerages have also issued reports on ITCI. Canaccord Genuity Group upped their target price on shares of Intra-Cellular Therapies from $100.00 to $107.00 and gave the company a buy rating in a research note on Tuesday. Royal Bank of Canada reiterated an outperform rating and issued a $86.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. TD Cowen raised their price objective on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. The Goldman Sachs Group lifted 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. Finally, Robert W. Baird increased their target price on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an outperform rating in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $90.17.

Intra-Cellular Therapies Price Performance

Intra-Cellular Therapies stock opened at $73.26 on Wednesday. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89. The stock’s 50 day moving average price is $69.33 and its 200 day moving average price is $64.78.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The business had revenue of $132.10 million for the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 50.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.45) earnings per share. As a group, research analysts predict that Intra-Cellular Therapies will post -0.59 earnings per share for the current year.

Insider Transactions at Intra-Cellular Therapies

In related news, Director Joel S. Marcus sold 26,328 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the transaction, the director now owns 39,662 shares in the company, valued at $2,723,986.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Intra-Cellular Therapies news, Director Joel S. Marcus sold 26,328 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $68.68, for a total value of $1,808,207.04. Following the sale, the director now directly owns 39,662 shares in the company, valued at $2,723,986.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sharon Mates sold 40,712 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $66.50, for a total transaction of $2,707,348.00. Following the transaction, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at approximately $69,845,548.50. 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 Investors Weigh In On Intra-Cellular Therapies

A number of large investors have recently made changes to their positions in the company. Global Retirement Partners LLC lifted its position in Intra-Cellular Therapies by 13.8% in the 3rd quarter. Global Retirement Partners LLC now owns 1,753 shares of the biopharmaceutical company’s stock worth $89,000 after buying an additional 213 shares in the last quarter. Handelsbanken Fonder AB raised its stake 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 purchasing an additional 2,000 shares in the last quarter. Raymond James & Associates grew its stake in shares of Intra-Cellular Therapies by 4.0% in the 3rd quarter. Raymond James & Associates now owns 149,445 shares of the biopharmaceutical company’s stock valued at $7,785,000 after buying an additional 5,716 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Intra-Cellular Therapies by 1.6% in the third 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 during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Intra-Cellular Therapies by 23.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,764 shares of the biopharmaceutical company’s stock valued at $717,000 after acquiring an additional 2,651 shares during the last quarter. 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.