Brokerages Set Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Target Price at $97.23

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have received a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $97.23.

A number of analysts have recently commented on the company. UBS Group cut their price objective on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Morgan Stanley boosted their price target on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, The Goldman Sachs Group dropped their price target on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $2,505,404.64. Following the completion of the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $77,962,764.36. This trade represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Several large investors have recently modified their holdings of the business. Franklin Resources Inc. lifted its stake in shares of Intra-Cellular Therapies by 9.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company’s stock valued at $129,463,000 after purchasing an additional 155,655 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Intra-Cellular Therapies during the 3rd quarter worth about $97,000. Arete Wealth Advisors LLC lifted its stake in Intra-Cellular Therapies by 22.0% during the 3rd quarter. Arete Wealth Advisors LLC now owns 25,067 shares of the biopharmaceutical company’s stock worth $1,834,000 after acquiring an additional 4,517 shares in the last quarter. Geode Capital Management LLC lifted its stake in Intra-Cellular Therapies by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,708,301 shares of the biopharmaceutical company’s stock worth $125,029,000 after acquiring an additional 22,128 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in Intra-Cellular Therapies by 36.3% during the 3rd quarter. M&T Bank Corp now owns 6,163 shares of the biopharmaceutical company’s stock worth $451,000 after acquiring an additional 1,642 shares in the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

Intra-Cellular Therapies Trading Up 0.2 %

Shares of NASDAQ:ITCI opened at $86.59 on Monday. Intra-Cellular Therapies has a 12-month low of $58.78 and a 12-month high of $93.45. The company has a market capitalization of $9.18 billion, a PE ratio of -99.34 and a beta of 0.97. The business has a 50 day moving average of $79.67 and a two-hundred day moving average of $75.13.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The firm’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.25) earnings per share. Equities research analysts predict that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

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.