Intra-Cellular Therapies (NASDAQ:ITCI) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research note published on Monday, Benzinga reports. They currently have a $130.00 price objective on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC reaffirmed a buy rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, August 7th. Mizuho boosted their price target on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a buy rating in a research report on Friday, June 21st. UBS Group lowered their price objective on Intra-Cellular Therapies from $83.00 to $79.00 and set a neutral rating on the stock in a research report on Thursday, August 8th. Piper Sandler raised Intra-Cellular Therapies from a neutral rating to an overweight rating and lifted their price objective for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Finally, The Goldman Sachs Group decreased their target price on Intra-Cellular Therapies from $77.00 to $74.00 and set a neutral rating on the stock in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $96.58.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI opened at $76.97 on Monday. Intra-Cellular Therapies has a 1 year low of $45.50 and a 1 year high of $84.89. The stock’s fifty day moving average price is $75.68 and its two-hundred day moving average price is $71.37. The company has a market cap of $8.13 billion, a P/E ratio of -66.35 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping the consensus estimate 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 return on equity of 11.48% and a negative net margin of 14.93%. The firm’s revenue was up 45.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.45) EPS. On average, analysts expect that Intra-Cellular Therapies will post -0.59 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sharon Mates sold 34,396 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $77,962,764.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction 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 directly owns 1,070,329 shares in the company, valued at approximately $77,962,764.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the completion of the sale, the executive vice president now directly owns 29,700 shares in the company, valued at approximately $2,229,876. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,778 shares of company stock valued at $13,374,538. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Kapitalo Investimentos Ltda purchased a new stake in Intra-Cellular Therapies in the 4th quarter worth approximately $26,000. Headlands Technologies LLC bought a new position in shares of Intra-Cellular Therapies during the first quarter valued at approximately $32,000. Fidelis Capital Partners LLC purchased a new stake in Intra-Cellular Therapies in the first quarter worth $53,000. Summit Securities Group LLC bought a new stake in Intra-Cellular Therapies in the second quarter valued at $56,000. Finally, Cape Investment Advisory Inc. bought a new stake in Intra-Cellular Therapies in the fourth quarter valued at $78,000. Hedge funds and other 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.