Intra-Cellular Therapies (NASDAQ:ITCI) PT Raised to $77.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price boosted by equities researchers at The Goldman Sachs Group from $67.00 to $77.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 6.94% from the company’s previous close.

A number of other analysts also recently commented on ITCI. Cantor Fitzgerald reissued an “overweight” rating and set a $101.00 price objective on shares of Intra-Cellular Therapies in a report on Friday, February 23rd. Canaccord Genuity Group decreased their price objective on shares of Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Bank of America boosted their price objective on shares of Intra-Cellular Therapies from $74.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. 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. Finally, Mizuho boosted their price objective on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.17.

Intra-Cellular Therapies Stock Down 6.1 %

Shares of NASDAQ:ITCI opened at $72.00 on Wednesday. The company has a market cap of $6.97 billion, a price-to-earnings ratio of -49.31 and a beta of 1.02. The firm’s 50-day simple moving average is $69.31 and its 200-day simple moving average is $63.82. Intra-Cellular Therapies has a fifty-two week low of $45.50 and a fifty-two week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating 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%. The business’s quarterly revenue was up 50.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.45) earnings per share. On average, research analysts forecast that Intra-Cellular Therapies will post -0.69 EPS for the current year.

Insider Activity

In other news, EVP Michael Halstead sold 7,907 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $69.53, 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 $2,065,041. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Sharon Mates sold 40,712 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $66.50, for a total value of $2,707,348.00. Following the completion of the transaction, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $69,845,548.50. The transaction 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 business’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 transaction of $549,773.71. Following the completion of the transaction, the executive vice president now directly 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 sold a total of 168,487 shares of company stock valued at $11,364,950 over the last 90 days. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Institutional investors have recently bought and sold shares of the stock. Kapitalo Investimentos Ltda purchased a new stake in Intra-Cellular Therapies in the fourth quarter valued at approximately $26,000. Lazard Asset Management LLC purchased a new stake in Intra-Cellular Therapies in the second quarter valued at approximately $29,000. Signaturefd LLC grew its holdings in Intra-Cellular Therapies by 85.7% in the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 239 shares during the period. Neo Ivy Capital Management purchased a new stake in Intra-Cellular Therapies in the third quarter valued at approximately $45,000. Finally, Coppell Advisory Solutions Corp. purchased a new stake in Intra-Cellular Therapies in the fourth quarter valued at approximately $47,000. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

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.