Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Increased to $107.00 by Analysts at Canaccord Genuity Group

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target lifted by analysts at Canaccord Genuity Group from $100.00 to $107.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 46.33% from the company’s previous close.

Several other brokerages also recently commented on ITCI. Mizuho raised their target price on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the stock a “buy” rating in a report on Monday. Needham & Company LLC lifted their price objective on shares of Intra-Cellular Therapies from $82.00 to $90.00 and gave the company a “buy” rating in a report on Monday. The Goldman Sachs Group lifted their price objective on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $101.00 price objective on shares of Intra-Cellular Therapies in a report on Friday, February 23rd. Finally, Robert W. Baird lifted their price objective on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.17.

Intra-Cellular Therapies Stock Performance

Shares of ITCI stock opened at $73.12 on Tuesday. The company has a market capitalization of $7.08 billion, a P/E ratio of -50.08 and a beta of 1.02. The company’s 50 day moving average price is $69.44 and its two-hundred day moving average price is $64.58. 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 earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.14. The firm had revenue of $132.10 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted ($0.45) EPS. Analysts forecast that Intra-Cellular Therapies will post -0.62 earnings per share for the current year.

Insider Activity at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 22,590 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.79, for a total value of $1,576,556.10. Following the completion of the transaction, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at $73,301,065.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of Intra-Cellular Therapies stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $66.56, for a total transaction of $429,312.00. Following the completion of the transaction, the executive vice president now directly owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sharon Mates sold 22,590 shares of Intra-Cellular Therapies stock in a transaction on Monday, February 26th. The stock was 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 of the company’s stock, valued at $73,301,065.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,487 shares of company stock valued at $11,364,950. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PFG Investments LLC boosted its position in Intra-Cellular Therapies by 392.9% during the first quarter. PFG Investments LLC now owns 13,800 shares of the biopharmaceutical company’s stock worth $955,000 after purchasing an additional 11,000 shares during the period. Raymond James & Associates boosted its position in Intra-Cellular Therapies by 12.4% during the first quarter. Raymond James & Associates now owns 156,046 shares of the biopharmaceutical company’s stock worth $10,798,000 after purchasing an additional 17,191 shares during the period. Wasatch Advisors LP boosted its position in Intra-Cellular Therapies by 6.3% during the first quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock worth $266,748,000 after purchasing an additional 227,439 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in Intra-Cellular Therapies by 14.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 16,651 shares of the biopharmaceutical company’s stock worth $1,152,000 after purchasing an additional 2,090 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new position in Intra-Cellular Therapies during the fourth quarter worth $26,000. 92.33% of the stock is owned by 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.