Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Receives $94.33 Average PT from Analysts

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has received an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $94.33.

Several equities analysts have issued reports on ITCI shares. Needham & Company LLC boosted their price objective on shares of Intra-Cellular Therapies from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. TD Cowen increased their price target on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. lifted their price objective on Intra-Cellular Therapies from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, June 12th. The Goldman Sachs Group boosted their target price on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Finally, Robert W. Baird raised their price target on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th.

Intra-Cellular Therapies Stock Performance

Shares of ITCI opened at $69.07 on Friday. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of -59.54 and a beta of 1.01. Intra-Cellular Therapies has a fifty-two week low of $45.50 and a fifty-two week high of $84.89. The firm has a 50-day simple moving average of $69.01 and a 200-day simple moving average of $69.11.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data 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 company had revenue of $144.90 million during the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was up 52.0% on a year-over-year basis. During the same period last year, the firm earned ($0.46) EPS. Equities research analysts forecast that Intra-Cellular Therapies will post -0.51 EPS for the current year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, Director Rory B. Riggs sold 4,462 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the sale, the director now owns 116,600 shares of the company’s stock, valued at $8,811,462. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Nostrand Robert L. Van sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the completion of the transaction, the director now directly owns 9,690 shares of the company’s stock, valued at approximately $735,567.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the transaction, the director now owns 116,600 shares of the company’s stock, valued at $8,811,462. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Several hedge funds have recently bought and sold shares of ITCI. Kapitalo Investimentos Ltda purchased a new stake in shares of Intra-Cellular Therapies in the fourth quarter valued at $26,000. Headlands Technologies LLC purchased a new position in Intra-Cellular Therapies in the 1st quarter valued at about $32,000. Signaturefd LLC boosted its stake in shares of Intra-Cellular Therapies by 85.7% during the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 239 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Intra-Cellular Therapies during the first quarter worth about $53,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Intra-Cellular Therapies during the third quarter worth about $45,000. Hedge funds and other institutional investors 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.