Intra-Cellular Therapies’ (ITCI) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report released on Wednesday morning, MarketBeat.com reports. They currently have a $132.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $108.00.

A number of other research firms have also recently commented on ITCI. Needham & Company LLC reiterated a “hold” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, January 13th. Leerink Partnrs downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Cantor Fitzgerald upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Morgan Stanley lifted their target price on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.15.

Intra-Cellular Therapies Trading Up 0.2 %

Shares of ITCI opened at $127.35 on Wednesday. Intra-Cellular Therapies has a 12-month low of $62.78 and a 12-month high of $128.00. The stock has a market cap of $13.50 billion, a P/E ratio of -146.38 and a beta of 0.70. The company has a 50-day moving average of $93.20 and a two-hundred day moving average of $82.72.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The business had revenue of $175.40 million for the quarter, compared to analysts’ expectations of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The company’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same period last year, the business earned ($0.25) earnings per share. As a group, analysts forecast that Intra-Cellular Therapies will post -0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank boosted its stake in shares of Intra-Cellular Therapies by 117.3% in the second quarter. Amalgamated Bank now owns 6,922 shares of the biopharmaceutical company’s stock valued at $474,000 after purchasing an additional 3,736 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in Intra-Cellular Therapies by 20.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,312 shares of the biopharmaceutical company’s stock valued at $432,000 after buying an additional 1,052 shares during the last quarter. Sei Investments Co. boosted its position in Intra-Cellular Therapies by 25.1% in the 2nd quarter. Sei Investments Co. now owns 160,487 shares of the biopharmaceutical company’s stock valued at $10,992,000 after buying an additional 32,176 shares during the last quarter. Xponance Inc. boosted its position in Intra-Cellular Therapies by 135.6% in the 2nd quarter. Xponance Inc. now owns 13,329 shares of the biopharmaceutical company’s stock valued at $913,000 after buying an additional 7,671 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Intra-Cellular Therapies in the 2nd quarter valued at about $34,178,000. Hedge funds and other 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.