Cantor Fitzgerald Upgrades Intra-Cellular Therapies (NASDAQ:ITCI) to “Strong-Buy”

Cantor Fitzgerald upgraded shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a hold rating to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

Several other research analysts have also issued reports on the stock. Morgan Stanley increased their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Piper Sandler reaffirmed a “neutral” rating and set a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday. Needham & Company LLC reissued a “hold” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Monday. Baird R W downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Royal Bank of Canada lifted their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intra-Cellular Therapies has a consensus rating of “Moderate Buy” and an average price target of $100.31.

Intra-Cellular Therapies Stock Performance

ITCI stock opened at $126.89 on Tuesday. The company has a market capitalization of $13.45 billion, a price-to-earnings ratio of -145.85 and a beta of 0.70. The business’s 50 day moving average price is $87.14 and its two-hundred day moving average price is $79.68. Intra-Cellular Therapies has a fifty-two week low of $62.78 and a fifty-two week high of $128.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The firm had revenue of $175.40 million during the quarter, compared to analysts’ expectations of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. Intra-Cellular Therapies’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.25) earnings per share. Sell-side analysts forecast that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. True Wealth Design LLC purchased a new stake in shares of Intra-Cellular Therapies in the 3rd quarter worth $32,000. GAMMA Investing LLC grew its holdings in Intra-Cellular Therapies by 46.3% during the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 240 shares during the period. Capital Performance Advisors LLP purchased a new stake in Intra-Cellular Therapies in the third quarter worth about $74,000. Wilmington Savings Fund Society FSB bought a new position in shares of Intra-Cellular Therapies in the third quarter worth about $97,000. Finally, Quarry LP raised its stake in shares of Intra-Cellular Therapies by 260.0% in the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 1,300 shares during the period. 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.