Analysts’ Recent Ratings Changes for Intra-Cellular Therapies (ITCI)

Several analysts have recently updated their ratings and price targets for Intra-Cellular Therapies (NASDAQ: ITCI):

• 4/24/2024 – Intra-Cellular Therapies had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $120.00 price target on the stock.
• 4/23/2024 – Intra-Cellular Therapies had its price target raised by analysts at Canaccord Genuity Group Inc. from $100.00 to $107.00. They now have a “buy” rating on the stock.
• 4/22/2024 – Intra-Cellular Therapies had its price target raised by analysts at Needham & Company LLC from $82.00 to $90.00. They now have a “buy” rating on the stock.
• 4/22/2024 – Intra-Cellular Therapies had its price target raised by analysts at Mizuho from $82.00 to $96.00. They now have a “buy” rating on the stock.
• 4/17/2024 – Intra-Cellular Therapies had its price target raised by analysts at Robert W. Baird from $83.00 to $103.00. They now have an “outperform” rating on the stock.
• 4/17/2024 – Intra-Cellular Therapies had its price target raised by analysts at The Goldman Sachs Group, Inc. from $67.00 to $77.00. They now have a “neutral” rating on the stock.
• 4/17/2024 – Intra-Cellular Therapies had its price target raised by analysts at TD Cowen from $80.00 to $90.00. They now have a “buy” rating on the stock.
• 4/17/2024 – Intra-Cellular Therapies had its price target raised by analysts at Bank of America Co. from $82.00 to $91.00. They now have a “buy” rating on the stock.
• 4/16/2024 – Intra-Cellular Therapies had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $82.00 price target on the stock.
• 4/5/2024 – Intra-Cellular Therapies had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $82.00 price target on the stock.
• 4/3/2024 – Intra-Cellular Therapies had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $86.00 price target on the stock.

Intra-Cellular Therapies Stock Down 1.1 %

Shares of NASDAQ ITCI traded down $0.76 during midday trading on Tuesday, hitting $71.54. The stock had a trading volume of 394,663 shares, compared to its average volume of 927,393. Intra-Cellular Therapies, Inc. has a 1-year low of $45.50 and a 1-year high of $84.89. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of -49.00 and a beta of 1.02. The company has a fifty day moving average price of $69.27 and a 200 day moving average price of $65.07.

Intra-Cellular Therapies (NASDAQ:ITCI) last released 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 company had revenue of $132.10 million during the quarter, compared to analyst estimates 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 prior year, the business earned ($0.45) earnings per share. On average, research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.59 EPS for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, EVP Michael Halstead sold 7,907 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $69.53, for a total value of $549,773.71. Following the completion of the sale, the executive vice president now owns 29,700 shares of the company’s stock, valued at $2,065,041. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sharon Mates sold 20,565 shares of Intra-Cellular Therapies stock in a transaction on 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 sale, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at approximately $68,490,649.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Halstead sold 7,907 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,065,041. The disclosure for this sale can be found here. Insiders have sold 168,487 shares of company stock valued at $11,364,950 over the last three months. 3.40% of the stock is owned by company insiders.

Institutional Trading of Intra-Cellular Therapies

Hedge funds and other institutional investors have recently modified their holdings of the business. Quantum Private Wealth LLC increased its holdings in Intra-Cellular Therapies by 64.7% during the 4th quarter. Quantum Private Wealth LLC now owns 23,705 shares of the biopharmaceutical company’s stock worth $1,698,000 after purchasing an additional 9,308 shares during the last quarter. HealthInvest Partners AB bought a new stake in shares of Intra-Cellular Therapies in the fourth quarter worth $877,000. Phocas Financial Corp. acquired a new stake in Intra-Cellular Therapies in the fourth quarter valued at $1,949,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Intra-Cellular Therapies by 209.4% during the 3rd 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 last quarter. Finally, abrdn plc bought a new position in shares of Intra-Cellular Therapies during the fourth quarter worth about $4,204,000. 92.33% of the stock is owned by hedge funds and other institutional investors.

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.