Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Raised to $95.00 at Morgan Stanley

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target boosted by Morgan Stanley from $92.00 to $95.00 in a research report released on Friday, Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

ITCI has been the subject of several other research reports. Royal Bank of Canada lifted their price objective on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an outperform rating in a research note on Friday, October 4th. Mizuho increased their price objective on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a buy rating in a research report on Friday, June 21st. Canaccord Genuity Group boosted their target price on Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a buy rating in a research report on Thursday, June 20th. JPMorgan Chase & Co. increased their price target on Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an overweight rating in a report on Wednesday, August 21st. Finally, Needham & Company LLC restated a buy rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Intra-Cellular Therapies has a consensus rating of Moderate Buy and a consensus price target of $96.62.

Intra-Cellular Therapies Stock Up 2.9 %

ITCI stock opened at $75.76 on Friday. The company’s fifty day simple moving average is $74.38 and its 200 day simple moving average is $72.13. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of -87.08 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The company had revenue of $161.40 million for the quarter, compared to the consensus estimate of $157.74 million. During the same period in the previous year, the business earned ($0.45) EPS. The firm’s revenue was up 45.7% compared to the same quarter last year. Research analysts expect that Intra-Cellular Therapies will post -0.59 earnings per share for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 53,013 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total value of $4,010,433.45. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at $80,970,388.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Sharon Mates sold 53,013 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total value of $4,010,433.45. Following the completion of the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $80,970,388.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of Intra-Cellular Therapies stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the sale, the executive vice president now owns 29,700 shares in the company, valued at $2,229,876. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 175,316 shares of company stock worth $13,037,345. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Hedge funds have recently added to or reduced their stakes in the stock. EFG Asset Management North America Corp. increased 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 worth $2,357,000 after purchasing an additional 163 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Intra-Cellular Therapies in the fourth quarter valued at $26,000. Lisanti Capital Growth LLC lifted its position in shares of Intra-Cellular Therapies by 0.8% during the 1st quarter. Lisanti Capital Growth LLC now owns 53,285 shares of the biopharmaceutical company’s stock valued at $3,687,000 after buying an additional 400 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Intra-Cellular Therapies by 13.9% during the 1st quarter. Tidal Investments LLC now owns 3,698 shares of the biopharmaceutical company’s stock worth $256,000 after acquiring an additional 450 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Intra-Cellular Therapies in the 1st quarter worth about $32,000. Institutional investors own 92.33% of the company’s stock.

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.