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

Needham & Company LLC reaffirmed their buy rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research report released on Tuesday, Benzinga reports. They currently have a $82.00 target price on the biopharmaceutical company’s stock.

A number of other research firms also recently weighed in on ITCI. Robert W. Baird assumed coverage on Intra-Cellular Therapies in a research note on Wednesday, January 3rd. They issued an outperform rating and a $83.00 price target on the stock. The Goldman Sachs Group increased their price target on Intra-Cellular Therapies from $58.00 to $64.00 and gave the company a neutral rating in a research note on Thursday, January 18th. Mizuho increased their price target on Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a buy rating in a research note on Friday, February 16th. Canaccord Genuity Group cut their price target on Intra-Cellular Therapies from $101.00 to $100.00 and set a buy rating on the stock in a research note on Friday, February 23rd. Finally, Royal Bank of Canada reissued an outperform rating and issued a $86.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $86.17.

Intra-Cellular Therapies Price Performance

ITCI stock opened at $72.00 on Tuesday. The company has a 50 day moving average price of $69.31 and a 200 day moving average price 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 PE ratio of -49.31 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share 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 firm had revenue of $132.10 million during the quarter, compared to analysts’ expectations of $135.97 million. During the same quarter in the previous year, the company posted ($0.45) EPS. Intra-Cellular Therapies’s revenue was up 50.3% on a year-over-year basis. As a group, equities analysts expect that Intra-Cellular Therapies will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 transaction of $429,312.00. Following the sale, the executive vice president now owns 16,170 shares of the company’s stock, valued at approximately $1,076,275.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 20,565 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the completion of the transaction, the chief executive officer now owns 1,050,309 shares in the company, valued at approximately $68,490,649.89. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Suresh K. Durgam sold 6,450 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $66.56, for a total value of $429,312.00. Following the transaction, the executive vice president now owns 16,170 shares of the company’s stock, valued at approximately $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 company insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds have recently modified their holdings of the stock. Kapitalo Investimentos Ltda bought a new position in shares of Intra-Cellular Therapies in the 4th quarter valued at about $26,000. Lazard Asset Management LLC bought a new position in Intra-Cellular Therapies during the second quarter worth about $29,000. Signaturefd LLC grew its holdings in Intra-Cellular Therapies by 85.7% during the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 239 shares during the period. Neo Ivy Capital Management bought a new position in Intra-Cellular Therapies during the third quarter worth about $45,000. Finally, Coppell Advisory Solutions Corp. bought a new position in Intra-Cellular Therapies during the fourth quarter worth about $47,000. Institutional investors 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.