Canaccord Genuity Group Increases Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $107.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price upped by Canaccord Genuity Group from $100.00 to $107.00 in a research note released on Tuesday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biopharmaceutical company’s stock.

A number of other brokerages also recently weighed in on ITCI. Bank of America lifted their target price on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Mizuho lifted their price target on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a buy rating in a research note on Monday, April 22nd. The Goldman Sachs Group lifted their price target on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a neutral rating in a research note on Wednesday, April 17th. Needham & Company LLC lifted their price target on shares of Intra-Cellular Therapies from $82.00 to $90.00 and gave the company a buy rating in a research note on Monday, April 22nd. Finally, Robert W. Baird lifted 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 note on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Intra-Cellular Therapies currently has a consensus rating of Moderate Buy and a consensus price target of $90.17.

Intra-Cellular Therapies Stock Performance

ITCI stock opened at $73.26 on Tuesday. The company has a fifty day moving average price of $69.33 and a 200-day moving average price of $64.78. The company has a market capitalization of $7.09 billion, a P/E ratio of -50.18 and a beta of 1.02. Intra-Cellular Therapies has a 52-week low of $45.50 and a 52-week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $132.10 million during the quarter, compared to the consensus estimate of $135.97 million. During the same quarter last year, the firm earned ($0.45) earnings per share. Intra-Cellular Therapies’s quarterly revenue was up 50.3% on a year-over-year basis. As a group, sell-side analysts forecast that Intra-Cellular Therapies will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sharon Mates sold 20,565 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the transaction, the chief executive officer now directly owns 1,050,309 shares in the company, valued at $68,490,649.89. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Intra-Cellular Therapies news, CFO Lawrence J. Hineline sold 13,337 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.43, for a total value of $925,987.91. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sharon Mates sold 20,565 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the completion of the transaction, the chief executive officer now owns 1,050,309 shares in the company, valued at $68,490,649.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,487 shares of company stock worth $11,364,950. 3.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITCI. Global Retirement Partners LLC raised its position in shares of Intra-Cellular Therapies by 13.8% in the third 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% in the third quarter. SG Americas Securities LLC now owns 59,439 shares of the biopharmaceutical company’s stock valued at $3,096,000 after purchasing an additional 34,485 shares during the period. Handelsbanken Fonder AB raised its position in shares of Intra-Cellular Therapies by 13.0% in the third quarter. Handelsbanken Fonder AB now owns 17,400 shares of the biopharmaceutical company’s stock valued at $906,000 after purchasing an additional 2,000 shares during the period. Raymond James & Associates raised its position in shares of Intra-Cellular Therapies by 4.0% in the third quarter. Raymond James & Associates now owns 149,445 shares of the biopharmaceutical company’s stock valued at $7,785,000 after purchasing an additional 5,716 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of 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 valued at $21,061,000 after purchasing an additional 6,182 shares during the period. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

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.