Intra-Cellular Therapies’ (ITCI) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report released on Wednesday, Benzinga reports. Needham & Company LLC currently has a $100.00 price target on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently commented on ITCI. Cantor Fitzgerald reaffirmed an overweight rating and set a $120.00 target price on shares of Intra-Cellular Therapies in a research note on Friday, June 14th. Canaccord Genuity Group lifted their price objective on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a buy rating in a research note on Thursday, June 20th. Royal Bank of Canada reissued an outperform rating and set a $103.00 target price on shares of Intra-Cellular Therapies in a research note on Tuesday, June 25th. TD Cowen lifted 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 note on Wednesday, April 17th. Finally, UBS Group reiterated a neutral rating and set a $83.00 price objective (down previously from $85.00) on shares of Intra-Cellular Therapies in a report on Tuesday, June 25th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $96.73.

Intra-Cellular Therapies Trading Down 1.1 %

NASDAQ:ITCI traded down $0.81 on Wednesday, reaching $73.61. 519,649 shares of the stock traded hands, compared to its average volume of 1,006,532. Intra-Cellular Therapies has a 1-year low of $45.50 and a 1-year high of $84.89. The company’s 50 day moving average is $73.67 and its 200-day moving average is $70.58. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of -63.46 and a beta of 1.01.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. The business had revenue of $161.40 million during 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 quarterly revenue was up 45.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.45) earnings per share. On average, equities research analysts forecast that Intra-Cellular Therapies will post -0.54 EPS for the current fiscal 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 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 completion of the sale, the director now directly owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intra-Cellular Therapies news, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $75.57, for a total transaction of $337,193.34. Following the transaction, the director now owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nostrand Robert L. Van sold 20,000 shares of the company’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 value 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 $735,567.90. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Intra-Cellular Therapies by 1.4% during the first quarter. Vanguard Group Inc. now owns 9,225,981 shares of the biopharmaceutical company’s stock worth $638,438,000 after buying an additional 131,679 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of Intra-Cellular Therapies by 6.3% during the 1st quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock worth $266,748,000 after purchasing an additional 227,439 shares during the last quarter. Avoro Capital Advisors LLC increased its stake in shares of Intra-Cellular Therapies by 9.7% during the 1st quarter. Avoro Capital Advisors LLC now owns 2,475,000 shares of the biopharmaceutical company’s stock worth $171,270,000 after purchasing an additional 219,445 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Intra-Cellular Therapies by 12.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock worth $120,723,000 after purchasing an additional 191,416 shares during the period. Finally, Norges Bank purchased a new position in Intra-Cellular Therapies in the fourth quarter valued at approximately $85,744,000. 92.33% of the stock is owned by hedge funds and other institutional investors.

About Intra-Cellular Therapies

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.