Intra-Cellular Therapies (NASDAQ:ITCI) PT Raised to $90.00 at Needham & Company LLC

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target raised by Needham & Company LLC from $82.00 to $90.00 in a research report sent to investors on Monday, Benzinga reports. Needham & Company LLC currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Bank of America raised their target price on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Cantor Fitzgerald reiterated an overweight rating and set a $101.00 price target on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. The Goldman Sachs Group lifted their price target on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a neutral rating in a research note on Wednesday, April 17th. TD Cowen lifted their price target on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Finally, Robert W. Baird lifted their price target on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an outperform rating in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intra-Cellular Therapies currently has a consensus rating of Moderate Buy and a consensus price target of $90.17.

Intra-Cellular Therapies Stock Performance

Shares of ITCI stock opened at $72.13 on Monday. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89. The firm’s 50 day moving average is $69.38 and its 200 day moving average is $64.63.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results 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 last year, the company posted ($0.45) earnings per share. The firm’s quarterly revenue was up 50.3% on a year-over-year basis. On average, analysts predict that Intra-Cellular Therapies will post -0.62 earnings per share for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, Director Joel S. Marcus sold 26,328 shares of Intra-Cellular Therapies stock in a transaction on Monday, February 26th. The shares were sold at an average price of $68.68, for a total value of $1,808,207.04. Following the sale, the director now directly owns 39,662 shares in the company, valued at approximately $2,723,986.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sharon Mates sold 20,565 shares of Intra-Cellular Therapies stock in a transaction dated Monday, March 11th. The shares were 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 directly owns 1,050,309 shares of the company’s stock, 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, Director Joel S. Marcus sold 26,328 shares of Intra-Cellular Therapies stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the transaction, the director now directly owns 39,662 shares of the company’s stock, valued at $2,723,986.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,487 shares of company stock worth $11,364,950. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several large investors have recently added to or reduced their stakes in the stock. Kapitalo Investimentos Ltda purchased a new stake in shares of Intra-Cellular Therapies in the 4th quarter worth approximately $26,000. Signaturefd LLC raised its stake in shares of Intra-Cellular Therapies by 85.7% during the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 239 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Intra-Cellular Therapies during the 3rd quarter worth approximately $45,000. Cape Investment Advisory Inc. bought a new position in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $78,000. Finally, Parallel Advisors LLC raised its stake in shares of Intra-Cellular Therapies by 16.3% during the 4th quarter. Parallel Advisors LLC now owns 1,564 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 219 shares in the last quarter. 92.33% of the stock is owned by hedge funds and other institutional investors.

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.