Intra-Cellular Therapies’ (ITCI) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report published on Wednesday morning, Benzinga reports. They currently have a $120.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald also issued estimates for Intra-Cellular Therapies’ FY2024 earnings at ($0.82) EPS.

Other equities research analysts also recently issued reports about the company. Mizuho increased their price target on Intra-Cellular Therapies from $82.00 to $96.00 and gave the stock a buy rating in a research report on Monday, April 22nd. Royal Bank of Canada reaffirmed an outperform rating and set a $86.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Needham & Company LLC boosted their target price on shares of Intra-Cellular Therapies from $82.00 to $90.00 and gave the company a buy rating in a research note on Monday, April 22nd. The Goldman Sachs Group increased their target price on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a neutral rating in a research note on Wednesday, April 17th. Finally, Canaccord Genuity Group raised their target price on Intra-Cellular Therapies from $100.00 to $107.00 and gave the company a buy rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $90.17.

Intra-Cellular Therapies Stock Up 1.6 %

Intra-Cellular Therapies stock opened at $73.26 on Wednesday. The stock has a 50-day moving average price of $69.33 and a 200 day moving average price of $64.78. Intra-Cellular Therapies has a 52 week low of $45.50 and a 52 week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.14. The business had revenue of $132.10 million during the quarter, compared to analysts’ expectations of $135.97 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The business’s quarterly revenue was up 50.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.45) EPS. Research analysts anticipate that Intra-Cellular Therapies will post -0.59 EPS for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 22,590 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the completion of the sale, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $73,301,065.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sharon Mates sold 22,590 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the transaction, the chief executive officer now directly owns 1,050,309 shares in the company, valued at $73,301,065.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Halstead sold 7,907 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $69.53, for a total transaction of $549,773.71. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at $2,065,041. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,487 shares of company stock worth $11,364,950. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Quantum Private Wealth LLC raised its stake in Intra-Cellular Therapies by 64.7% during the fourth quarter. Quantum Private Wealth LLC now owns 23,705 shares of the biopharmaceutical company’s stock worth $1,698,000 after purchasing an additional 9,308 shares during the period. HealthInvest Partners AB acquired a new position in Intra-Cellular Therapies in the fourth quarter valued at approximately $877,000. Phocas Financial Corp. purchased a new position in Intra-Cellular Therapies in the fourth quarter worth approximately $1,949,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Intra-Cellular Therapies by 209.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 154,700 shares of the biopharmaceutical company’s stock worth $8,058,000 after acquiring an additional 104,700 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Intra-Cellular Therapies by 36.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 974,914 shares of the biopharmaceutical company’s stock valued at $50,783,000 after purchasing an additional 259,424 shares during the period. Institutional investors and hedge funds 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.