Needham & Company LLC Reaffirms “Buy” Rating for Intra-Cellular Therapies (NASDAQ:ITCI)

Needham & Company LLC restated their buy rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research note released on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $82.00 price objective on the biopharmaceutical company’s stock.

Several other analysts have also recently commented on the company. Mizuho raised their target price on Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a buy rating in a research report on Friday, February 16th. Bank of America raised their target price on Intra-Cellular Therapies from $74.00 to $82.00 and gave the company a buy rating in a research report on Tuesday, January 2nd. Robert W. Baird started coverage on Intra-Cellular Therapies in a research report on Wednesday, January 3rd. They set an outperform rating and a $83.00 price target on the stock. The Goldman Sachs Group lifted their price target on Intra-Cellular Therapies from $58.00 to $64.00 and gave the company a neutral rating in a research report on Thursday, January 18th. Finally, Canaccord Genuity Group lowered their price target on Intra-Cellular Therapies from $101.00 to $100.00 and set a buy rating on the stock in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $86.17.

Intra-Cellular Therapies Price Performance

ITCI opened at $72.00 on Tuesday. Intra-Cellular Therapies has a 12 month low of $45.50 and a 12 month high of $84.89. The stock has a market cap of $6.97 billion, a P/E ratio of -49.31 and a beta of 1.02. The stock’s 50 day moving average price is $69.31 and its 200 day moving average price is $63.82.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.14. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The firm had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $135.97 million. During the same period last year, the firm earned ($0.45) EPS. The firm’s revenue was up 50.3% compared to the same quarter last year. Equities analysts anticipate that Intra-Cellular Therapies will post -0.69 EPS for the current year.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 40,712 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $66.50, for a total transaction of $2,707,348.00. Following the completion of the sale, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at approximately $69,845,548.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Suresh K. Durgam sold 6,450 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total value of $429,312.00. Following the completion of the sale, the executive vice president now owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sharon Mates sold 40,712 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $66.50, for a total value of $2,707,348.00. Following the completion of the sale, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at approximately $69,845,548.50. The disclosure for this sale can be found here. Insiders sold a total of 168,487 shares of company stock valued at $11,364,950 in the last three months. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wasatch Advisors LP boosted its position in shares of Intra-Cellular Therapies by 6.3% in the first quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock worth $266,748,000 after buying an additional 227,439 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in shares of Intra-Cellular Therapies by 14.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 16,651 shares of the biopharmaceutical company’s stock worth $1,152,000 after buying an additional 2,090 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Intra-Cellular Therapies in the fourth quarter worth $26,000. HighPoint Advisor Group LLC acquired a new stake in shares of Intra-Cellular Therapies in the fourth quarter worth $217,000. Finally, Vanguard Group Inc. boosted its position in Intra-Cellular Therapies by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock valued at $651,334,000 after purchasing an additional 554,577 shares during the last quarter. Institutional investors and hedge funds 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.