TD Cowen Increases Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $90.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective upped by research analysts at TD Cowen from $80.00 to $90.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s target price points to a potential upside of 25.00% from the stock’s current price.

ITCI has been the subject of several other research reports. Robert W. Baird increased their target price on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $101.00 target price on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. Needham & Company LLC reiterated a “buy” rating and set a $82.00 price target on shares of Intra-Cellular Therapies in a research note on Tuesday. Finally, Mizuho increased their price objective on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.17.

Intra-Cellular Therapies Stock Down 6.1 %

ITCI opened at $72.00 on Wednesday. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89. The firm has a market capitalization 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 two-hundred day moving average price is $63.82.

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. The business 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%. Intra-Cellular Therapies’s quarterly revenue was up 50.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.45) earnings per share. As a group, analysts anticipate that Intra-Cellular Therapies will post -0.69 earnings per share for the current year.

Insider Transactions at Intra-Cellular Therapies

In related news, EVP Suresh K. Durgam sold 6,450 shares of Intra-Cellular Therapies stock in a transaction dated 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 approximately $1,076,275.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Michael Halstead sold 7,345 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $65.97, for a total value of $484,549.65. Following the completion of the sale, the executive vice president now directly owns 19,803 shares in the company, valued at $1,306,403.91. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Suresh K. Durgam sold 6,450 shares of Intra-Cellular Therapies stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 168,487 shares of company stock valued at $11,364,950. 3.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantum Private Wealth LLC grew its stake in shares of Intra-Cellular Therapies by 64.7% during the fourth quarter. Quantum Private Wealth LLC now owns 23,705 shares of the biopharmaceutical company’s stock valued at $1,698,000 after purchasing an additional 9,308 shares during the last quarter. HealthInvest Partners AB acquired a new stake in shares of Intra-Cellular Therapies in the 4th quarter valued at $877,000. Phocas Financial Corp. acquired a new position in shares of Intra-Cellular Therapies during the fourth quarter valued at $1,949,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Intra-Cellular Therapies by 209.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 154,700 shares of the biopharmaceutical company’s stock valued at $8,058,000 after acquiring an additional 104,700 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Intra-Cellular Therapies by 36.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 974,914 shares of the biopharmaceutical company’s stock valued at $50,783,000 after acquiring an additional 259,424 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.