Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Raised to $90.00 at TD Cowen

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target increased by TD Cowen from $80.00 to $90.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other analysts have also recently commented on ITCI. Royal Bank of Canada reaffirmed an outperform rating and set a $86.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Canaccord Genuity Group cut their price target on shares of Intra-Cellular Therapies from $101.00 to $100.00 and set a buy rating on the stock in a research report on Friday, February 23rd. Mizuho upped their price target on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a buy rating in a research report on Friday, February 16th. Robert W. Baird upped their price target on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an outperform rating in a research report on Wednesday. Finally, Needham & Company LLC reaffirmed a buy rating and set a $82.00 price target on shares of Intra-Cellular Therapies in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $86.17.

Intra-Cellular Therapies Price Performance

Shares of Intra-Cellular Therapies stock opened at $72.37 on Wednesday. Intra-Cellular Therapies has a twelve month low of $45.50 and a twelve month high of $84.89. The company’s fifty day moving average is $69.31 and its 200 day moving average is $63.87.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share 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 company had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $135.97 million. During the same quarter in the previous year, the firm posted ($0.45) earnings per share. Intra-Cellular Therapies’s revenue for the quarter was up 50.3% on a year-over-year basis. Analysts expect that Intra-Cellular Therapies will post -0.69 EPS for the current year.

Insider Activity

In other news, CEO Sharon Mates sold 22,590 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the transaction, the chief executive officer now owns 1,050,309 shares in the company, valued at $73,301,065.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Suresh K. Durgam sold 6,450 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value of $429,312.00. Following the sale, the executive vice president now owns 16,170 shares in the company, valued at approximately $1,076,275.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sharon Mates sold 22,590 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the completion of the sale, the chief executive officer now owns 1,050,309 shares in the company, valued at approximately $73,301,065.11. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,487 shares of company stock worth $11,364,950. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of institutional investors and hedge funds have recently made changes to their positions in ITCI. Kapitalo Investimentos Ltda acquired a new stake in shares of Intra-Cellular Therapies in the 4th quarter worth about $26,000. Lazard Asset Management LLC acquired a new stake in shares of Intra-Cellular Therapies in the 2nd quarter worth about $29,000. Signaturefd LLC raised its holdings in shares of Intra-Cellular Therapies by 85.7% in the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 239 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Intra-Cellular Therapies in the 3rd quarter valued at about $45,000. Finally, Coppell Advisory Solutions Corp. purchased a new stake in Intra-Cellular Therapies in the 4th quarter valued at about $47,000. Institutional investors and hedge funds 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.