Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Raised to $113.00 at Canaccord Genuity Group

Intra-Cellular Therapies (NASDAQ:ITCIFree Report) had its price objective boosted by Canaccord Genuity Group from $107.00 to $113.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other brokerages also recently weighed in on ITCI. Needham & Company LLC boosted their price target on Intra-Cellular Therapies from $90.00 to $94.00 and gave the stock a buy rating in a research report on Tuesday, June 18th. Cantor Fitzgerald reissued an overweight rating and set a $120.00 price target on shares of Intra-Cellular Therapies in a research report on Friday, June 14th. Robert W. Baird upped their target price on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an outperform rating in a research report on Wednesday, April 17th. Royal Bank of Canada reaffirmed an outperform rating and issued a $86.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Finally, TD Cowen upped their target price on Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $92.67.

View Our Latest Stock Report on ITCI

Intra-Cellular Therapies Stock Performance

NASDAQ:ITCI opened at $76.58 on Thursday. The stock’s 50-day simple moving average is $69.53 and its 200 day simple moving average is $68.75. The company has a market cap of $8.08 billion, a P/E ratio of -66.02 and a beta of 0.97. Intra-Cellular Therapies has a 52-week low of $45.50 and a 52-week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCIGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.15. The firm had revenue of $144.90 million for the quarter, compared to the consensus estimate of $141.41 million. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The business’s revenue was up 52.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.46) earnings per share. As a group, equities analysts predict that Intra-Cellular Therapies will post -0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intra-Cellular Therapies

Institutional investors have recently made changes to their positions in the stock. Avoro Capital Advisors LLC bought a new stake in Intra-Cellular Therapies during the fourth quarter worth $161,543,000. Norges Bank bought a new stake in Intra-Cellular Therapies during the fourth quarter worth $85,744,000. Avidity Partners Management LP bought a new stake in Intra-Cellular Therapies during the third quarter worth $41,729,000. Polar Capital Holdings Plc lifted its stake in Intra-Cellular Therapies by 150.0% during the third quarter. Polar Capital Holdings Plc now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $52,090,000 after purchasing an additional 600,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Intra-Cellular Therapies by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock worth $651,334,000 after purchasing an additional 554,577 shares during the last quarter. 92.33% of the stock is currently owned by institutional investors.

Intra-Cellular Therapies Company Profile

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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.

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