Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Raised to $90.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price hoisted by Needham & Company LLC from $82.00 to $90.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other equities analysts also recently commented on the stock. Royal Bank of Canada reiterated an outperform rating and issued a $86.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Robert W. Baird boosted their target price on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an outperform rating in a report on Wednesday, April 17th. Mizuho boosted their price target on Intra-Cellular Therapies from $82.00 to $96.00 and gave the stock a buy rating in a research note on Monday. The Goldman Sachs Group boosted their price target on 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 dropped their price target on Intra-Cellular Therapies from $101.00 to $100.00 and set a buy rating on the stock in a research note on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $90.17.

Intra-Cellular Therapies Price Performance

ITCI stock opened at $73.12 on Monday. The business has a 50-day moving average price of $69.44 and a 200 day moving average price of $64.58. The company has a market capitalization of $7.08 billion, a P/E ratio of -50.08 and a beta of 1.02. Intra-Cellular Therapies has a 1-year low of $45.50 and a 1-year 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 analysts’ consensus estimates of ($0.44) by $0.14. The business had revenue of $132.10 million during 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 firm’s revenue was up 50.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.45) earnings per share. On average, analysts anticipate that Intra-Cellular Therapies will post -0.62 earnings per share for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In related news, EVP Michael Halstead sold 7,907 shares of the company’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 value of $549,773.71. Following the sale, the executive vice president now owns 29,700 shares in the company, valued at $2,065,041. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 22,590 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $69.79, for a total value of $1,576,556.10. Following the sale, the chief executive officer now owns 1,050,309 shares in the company, valued at approximately $73,301,065.11. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Michael Halstead sold 7,907 shares of the company’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 value of $549,773.71. Following the completion of the sale, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,065,041. The disclosure for this sale can be found here. Insiders have sold a total of 168,487 shares of company stock worth $11,364,950 over the last quarter. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Hedge funds have recently bought and sold shares of the stock. Xponance Inc. raised its stake in shares of Intra-Cellular Therapies by 3.0% during the 4th quarter. Xponance Inc. now owns 5,676 shares of the biopharmaceutical company’s stock worth $407,000 after buying an additional 163 shares during the period. Regal Investment Advisors LLC raised its stake in shares of Intra-Cellular Therapies by 1.4% during the 3rd quarter. Regal Investment Advisors LLC now owns 13,610 shares of the biopharmaceutical company’s stock worth $709,000 after buying an additional 186 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of Intra-Cellular Therapies by 0.8% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 26,796 shares of the biopharmaceutical company’s stock worth $1,396,000 after buying an additional 200 shares during the period. Bailard Inc. raised its stake in shares of Intra-Cellular Therapies by 1.2% during the 4th quarter. Bailard Inc. now owns 17,080 shares of the biopharmaceutical company’s stock worth $1,223,000 after buying an additional 200 shares during the period. Finally, Global Retirement Partners LLC raised its stake in shares of Intra-Cellular Therapies by 13.8% during the 3rd quarter. Global Retirement Partners LLC now owns 1,753 shares of the biopharmaceutical company’s stock worth $89,000 after buying an additional 213 shares during the period. Hedge funds and other institutional investors own 92.33% of the company’s stock.

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.