Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Raised to $108.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective boosted by Royal Bank of Canada from $106.00 to $108.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on the stock. Needham & Company LLC reaffirmed a buy rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an overweight rating and set a $130.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Mizuho lifted their target price on Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a buy rating in a research note on Friday, June 21st. Canaccord Genuity Group upped their price target on Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a buy rating in a research note on Thursday, June 20th. Finally, UBS Group lowered their price objective on shares of 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. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $96.75.

Intra-Cellular Therapies Stock Up 0.9 %

NASDAQ:ITCI opened at $72.89 on Friday. Intra-Cellular Therapies has a 52-week low of $45.50 and a 52-week high of $84.89. The stock’s 50 day moving average price is $74.85 and its 200 day moving average price is $72.07. The company has a market capitalization of $7.70 billion, a PE ratio of -62.84 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. The business had revenue of $161.40 million for the quarter, compared to analysts’ expectations of $157.74 million. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The company’s quarterly revenue was up 45.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.45) EPS. As a group, sell-side analysts anticipate that Intra-Cellular Therapies will post -0.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Mark Neumann sold 18,714 shares of the stock in a transaction dated Friday, August 16th. The shares were 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 owns 29,700 shares in the company, valued at $2,229,876. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction that occurred 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sharon Mates sold 53,013 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $80,970,388.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,316 shares of company stock worth $13,037,345. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Kapitalo Investimentos Ltda purchased a new position in Intra-Cellular Therapies during the 4th quarter valued at about $26,000. Headlands Technologies LLC acquired a new position in shares of Intra-Cellular Therapies during the 1st quarter worth approximately $32,000. Fidelis Capital Partners LLC purchased a new stake in Intra-Cellular Therapies in the 1st quarter valued at approximately $53,000. Summit Securities Group LLC acquired a new stake in Intra-Cellular Therapies during the 2nd quarter valued at $56,000. Finally, CWM LLC increased its position in Intra-Cellular Therapies by 83.9% during the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 626 shares in the last quarter. 92.33% of the stock is currently owned by hedge funds and other 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.