Robert W. Baird Increases Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $103.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target lifted by stock analysts at Robert W. Baird from $83.00 to $103.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Robert W. Baird’s price target would indicate a potential upside of 43.06% from the stock’s current price.

A number of other brokerages also recently commented on ITCI. Canaccord Genuity Group cut their price objective on Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. 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. Needham & Company LLC restated a “buy” rating and set a $82.00 price objective on shares of Intra-Cellular Therapies in a report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $101.00 target price on shares of Intra-Cellular Therapies in a report on Friday, February 23rd. Finally, The Goldman Sachs Group boosted their price target on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.17.

Intra-Cellular Therapies Stock Down 6.1 %

Shares of ITCI stock opened at $72.00 on Wednesday. The stock has a 50-day simple moving average of $69.31 and a 200 day simple moving average of $63.82. Intra-Cellular Therapies has a fifty-two week low of $45.50 and a fifty-two week high of $84.89. The stock has a market capitalization of $6.97 billion, a P/E ratio of -49.31 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.14. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The company had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $135.97 million. During the same quarter in the previous year, the company posted ($0.45) EPS. The business’s revenue was up 50.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Intra-Cellular Therapies will post -0.69 earnings per share for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, EVP Michael Halstead sold 7,907 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.53, for a total transaction of $549,773.71. Following the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at approximately $2,065,041. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Michael Halstead sold 7,907 shares of Intra-Cellular Therapies stock in a transaction dated 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 sale, the executive vice president now directly owns 29,700 shares in the company, valued at approximately $2,065,041. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sharon Mates sold 22,590 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at approximately $73,301,065.11. The disclosure for this sale can be found here. In the last quarter, insiders have sold 168,487 shares of company stock worth $11,364,950. 3.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several institutional investors and hedge funds have recently modified their holdings of ITCI. Vanguard Group Inc. raised its holdings 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 buying an additional 554,577 shares in the last quarter. BlackRock Inc. lifted its holdings in Intra-Cellular Therapies by 13.1% in the 1st quarter. BlackRock Inc. now owns 6,470,417 shares of the biopharmaceutical company’s stock worth $395,924,000 after purchasing an additional 748,651 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Intra-Cellular Therapies in the 1st quarter worth approximately $248,502,000. Wasatch Advisors LP grew its holdings 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 valued at $266,748,000 after purchasing an additional 227,439 shares during the last quarter. Finally, Avoro Capital Advisors LLC acquired a new position in Intra-Cellular Therapies during the fourth quarter valued at approximately $161,543,000. 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.