Intra-Cellular Therapies (NASDAQ:ITCI) Stock Rating Reaffirmed by Needham & Company LLC

Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They currently have a $90.00 target price on the biopharmaceutical company’s stock. Needham & Company LLC’s price target indicates a potential upside of 34.33% from the stock’s previous close.

ITCI has been the topic of several other reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Bank of America upped their target price on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. The Goldman Sachs Group lifted their price target on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Robert W. Baird raised their target price on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $120.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Intra-Cellular Therapies currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ ITCI opened at $67.00 on Tuesday. The company’s fifty day moving average is $69.03 and its two-hundred day moving average is $65.86. The firm has a market capitalization of $6.49 billion, a P/E ratio of -45.89 and a beta of 1.01. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.15. The business had revenue of $144.90 million for the quarter, compared to analyst estimates of $141.41 million. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The company’s quarterly revenue was up 52.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.46) EPS. On average, sell-side analysts forecast that Intra-Cellular Therapies will post -0.59 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Michael Halstead sold 7,907 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $69.53, for a total value of $549,773.71. Following the transaction, the executive vice president now owns 29,700 shares in the company, valued at $2,065,041. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Suresh K. Durgam sold 6,450 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $66.56, for a total transaction of $429,312.00. Following the sale, the executive vice president now directly owns 16,170 shares in the company, valued at approximately $1,076,275.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at approximately $2,065,041. The disclosure for this sale can be found here. Insiders have sold 168,487 shares of company stock valued at $11,364,950 in the last three months. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its stake in Intra-Cellular Therapies by 6.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 28,496 shares of the biopharmaceutical company’s stock worth $1,972,000 after buying an additional 1,700 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Intra-Cellular Therapies during the first quarter worth about $18,379,000. ProShare Advisors LLC lifted its stake in shares of Intra-Cellular Therapies by 9.1% in the first quarter. ProShare Advisors LLC now owns 23,621 shares of the biopharmaceutical company’s stock worth $1,635,000 after acquiring an additional 1,962 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Intra-Cellular Therapies by 232.0% in the first quarter. Russell Investments Group Ltd. now owns 50,845 shares of the biopharmaceutical company’s stock valued at $3,519,000 after purchasing an additional 35,528 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Intra-Cellular Therapies during the 1st quarter valued at approximately $32,000. 92.33% of the stock is owned by institutional investors and hedge funds.

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.