Intra-Cellular Therapies’ (ITCI) Neutral Rating Reiterated at Piper Sandler

Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “neutral” rating reissued by Piper Sandler in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $132.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $107.00. Piper Sandler’s price objective points to a potential upside of 3.93% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Morgan Stanley boosted their target price on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Royal Bank of Canada raised their price objective 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Intra-Cellular Therapies currently has an average rating of “Moderate Buy” and a consensus price target of $100.31.

Intra-Cellular Therapies Price Performance

Shares of NASDAQ ITCI traded down $0.18 during midday trading on Tuesday, hitting $127.01. 10,020,610 shares of the company’s stock were exchanged, compared to its average volume of 6,502,880. Intra-Cellular Therapies has a twelve month low of $62.78 and a twelve month high of $128.00. The firm has a market cap of $13.47 billion, a P/E ratio of -145.99 and a beta of 0.70. The stock’s 50 day moving average price is $86.39 and its 200-day moving average price is $79.26.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The business had revenue of $175.40 million for the quarter, compared to analyst estimates of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. Intra-Cellular Therapies’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same period last year, the business posted ($0.25) earnings per share. On average, analysts expect that Intra-Cellular Therapies will post -0.64 EPS for the current fiscal year.

Insider Activity

In other 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 directly owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ITCI. Barclays PLC raised its holdings in shares of Intra-Cellular Therapies by 282.0% in the 3rd quarter. Barclays PLC now owns 34,453 shares of the biopharmaceutical company’s stock worth $2,521,000 after acquiring an additional 25,435 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Intra-Cellular Therapies by 31.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock valued at $33,258,000 after purchasing an additional 109,892 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Intra-Cellular Therapies by 3.3% during the third quarter. Principal Financial Group Inc. now owns 597,713 shares of the biopharmaceutical company’s stock valued at $43,735,000 after buying an additional 18,865 shares during the last quarter. TimesSquare Capital Management LLC raised its position in Intra-Cellular Therapies by 6.5% in the 3rd quarter. TimesSquare Capital Management LLC now owns 438,083 shares of the biopharmaceutical company’s stock valued at $32,055,000 after buying an additional 26,600 shares during the last quarter. Finally, Cynosure Group LLC grew its stake in shares of Intra-Cellular Therapies by 161.0% in the 3rd quarter. Cynosure Group LLC now owns 14,442 shares of the biopharmaceutical company’s stock worth $1,057,000 after acquiring an additional 8,909 shares in the last quarter. 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.