Intra-Cellular Therapies (NASDAQ:ITCI) PT Raised to $100.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective raised by Needham & Company LLC from $94.00 to $100.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

ITCI has been the topic of a number of other research reports. Royal Bank of Canada reiterated an outperform rating and set a $103.00 price objective on shares of Intra-Cellular Therapies in a research note on Tuesday, June 25th. The Goldman Sachs Group lifted their price target on Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a neutral rating in a research report on Wednesday, April 17th. UBS Group restated a neutral rating and issued a $83.00 price objective (down previously from $85.00) on shares of Intra-Cellular Therapies in a report on Tuesday, June 25th. Bank of America lifted their target price on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Intra-Cellular Therapies from $75.00 to $78.00 and gave the stock an overweight rating in a research report on Wednesday, June 12th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Intra-Cellular Therapies currently has an average rating of Moderate Buy and a consensus target price of $94.83.

Intra-Cellular Therapies Stock Performance

Shares of ITCI stock opened at $80.84 on Monday. Intra-Cellular Therapies has a 1 year low of $45.50 and a 1 year high of $84.89. The firm has a market capitalization of $8.53 billion, a PE ratio of -69.69 and a beta of 1.01. The stock has a fifty day moving average of $71.22 and a two-hundred day moving average of $69.84.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.15. The business had revenue of $144.90 million for the quarter, compared to analysts’ expectations of $141.41 million. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. The company’s revenue was up 52.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.46) earnings per share. Equities research analysts predict that Intra-Cellular Therapies will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, Director Nostrand Robert L. Van sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $75.91, for a total value of $1,518,200.00. Following the completion of the transaction, the director now directly owns 9,690 shares in the company, valued at $735,567.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related 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 transaction of $337,193.34. Following the transaction, the director now directly owns 116,600 shares of the company’s stock, valued at $8,811,462. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nostrand Robert L. Van sold 20,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total value of $1,518,200.00. Following the completion of the sale, the director now directly owns 9,690 shares of the company’s stock, valued at $735,567.90. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of large investors have recently made changes to their positions in ITCI. Xponance Inc. boosted its holdings in shares of Intra-Cellular Therapies by 3.0% during the fourth quarter. Xponance Inc. now owns 5,676 shares of the biopharmaceutical company’s stock worth $407,000 after purchasing an additional 163 shares during the period. EFG Asset Management North America Corp. boosted its stake in shares of Intra-Cellular Therapies by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 34,452 shares of the biopharmaceutical company’s stock valued at $2,357,000 after buying an additional 163 shares during the period. Bailard Inc. grew its holdings in shares of Intra-Cellular Therapies by 1.2% during the 4th quarter. Bailard Inc. now owns 17,080 shares of the biopharmaceutical company’s stock valued at $1,223,000 after acquiring an additional 200 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Intra-Cellular Therapies by 16.3% in the fourth quarter. Parallel Advisors LLC now owns 1,564 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 219 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Intra-Cellular Therapies by 85.7% during the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 239 shares in the last quarter. Institutional investors and hedge funds 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.