Intra-Cellular Therapies’ (ITCI) Buy Rating Reaffirmed at Needham & Company LLC

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

Several other equities analysts have also recently commented on ITCI. The Goldman Sachs Group cut their price target on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada raised their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. boosted their price target on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. UBS Group reduced their price objective on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Intra-Cellular Therapies currently has an average rating of “Moderate Buy” and an average price target of $96.62.

Intra-Cellular Therapies Trading Up 11.4 %

Shares of ITCI stock opened at $85.47 on Wednesday. The firm has a market capitalization of $9.02 billion, a P/E ratio of -73.68 and a beta of 1.00. Intra-Cellular Therapies has a 1 year low of $46.10 and a 1 year high of $88.00. The firm’s fifty day simple moving average is $74.53 and its 200 day simple moving average is $72.96.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.03. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The company had revenue of $161.40 million for the quarter, compared to the consensus estimate of $157.74 million. During the same quarter in the previous year, the firm posted ($0.45) EPS. The business’s revenue was up 45.7% compared to the same quarter last year. Equities research analysts anticipate that Intra-Cellular Therapies will post -0.6 EPS for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 34,396 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Mark Neumann sold 18,714 shares of Intra-Cellular Therapies stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,229,876. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sharon Mates sold 34,396 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $77,962,764.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 175,316 shares of company stock worth $13,037,345 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

Institutional investors have recently modified their holdings of the stock. Perceptive Advisors LLC increased its holdings in shares of Intra-Cellular Therapies by 62.6% in the second quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock valued at $117,557,000 after purchasing an additional 661,052 shares in the last quarter. Millennium Management LLC boosted its position in Intra-Cellular Therapies by 214.5% in the 2nd quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock valued at $60,895,000 after buying an additional 606,358 shares during the last quarter. Avoro Capital Advisors LLC increased its stake in shares of Intra-Cellular Therapies by 21.2% in the 2nd quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock valued at $205,470,000 after buying an additional 525,000 shares during the period. Marshall Wace LLP bought a new stake in shares of Intra-Cellular Therapies during the second quarter worth $34,178,000. Finally, Hood River Capital Management LLC acquired a new position in shares of Intra-Cellular Therapies during the second quarter valued at $33,390,000. 92.33% of the stock is 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.