Intra-Cellular Therapies (NASDAQ:ITCI) Given New $74.00 Price Target at The Goldman Sachs Group

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target trimmed by The Goldman Sachs Group from $77.00 to $74.00 in a report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued research reports about the stock. TD Cowen raised their price target on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a buy rating in a research report on Wednesday, April 17th. UBS Group reissued a neutral rating and issued a $83.00 target price (down previously from $85.00) on shares of Intra-Cellular Therapies in a report on Tuesday, June 25th. JPMorgan Chase & Co. upped their price target on Intra-Cellular Therapies from $75.00 to $78.00 and gave the company an overweight rating in a report on Wednesday, June 12th. Canaccord Genuity Group lifted their price objective on Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a buy rating in a report on Thursday, June 20th. Finally, Royal Bank of Canada restated an outperform rating and set a $103.00 target price on shares of Intra-Cellular Therapies in a research note on Tuesday, June 25th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $96.73.

Intra-Cellular Therapies Trading Down 1.1 %

Intra-Cellular Therapies stock traded down $0.81 during mid-day trading on Thursday, hitting $73.61. The company had a trading volume of 519,549 shares, compared to its average volume of 1,006,532. Intra-Cellular Therapies has a 12 month low of $45.50 and a 12 month high of $84.89. The company has a market capitalization of $7.77 billion, a PE ratio of -63.09 and a beta of 1.01. The stock’s 50 day moving average price is $73.54 and its two-hundred day moving average price is $70.54.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.02. The company had revenue of $161.40 million for the quarter, compared to the consensus estimate of $157.74 million. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. Intra-Cellular Therapies’s revenue for the quarter was up 45.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.45) EPS. Equities research analysts anticipate that Intra-Cellular Therapies will post -0.54 EPS for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

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

Institutional Trading of Intra-Cellular Therapies

Several institutional investors and hedge funds have recently modified their holdings of ITCI. Renaissance Technologies LLC lifted its holdings in Intra-Cellular Therapies by 130.0% in the 2nd quarter. Renaissance Technologies LLC now owns 222,400 shares of the biopharmaceutical company’s stock worth $15,232,000 after purchasing an additional 125,700 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Intra-Cellular Therapies by 21.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 35,492 shares of the biopharmaceutical company’s stock worth $2,431,000 after buying an additional 6,382 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Intra-Cellular Therapies by 1.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 52,499 shares of the biopharmaceutical company’s stock worth $3,714,000 after acquiring an additional 502 shares during the last quarter. First Turn Management LLC grew its stake in Intra-Cellular Therapies by 68.0% during the second quarter. First Turn Management LLC now owns 347,343 shares of the biopharmaceutical company’s stock valued at $23,790,000 after acquiring an additional 140,636 shares in the last quarter. Finally, Nicholas Investment Partners LP increased its holdings in Intra-Cellular Therapies by 112.1% in the 2nd quarter. Nicholas Investment Partners LP now owns 151,409 shares of the biopharmaceutical company’s stock valued at $10,370,000 after acquiring an additional 80,038 shares during the last quarter. 92.33% of the stock is currently owned by 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.