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

Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $82.00 price objective on the biopharmaceutical company’s stock. Needham & Company LLC’s price objective points to a potential upside of 6.92% from the company’s previous close.

ITCI has been the subject of several other research reports. 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. Mizuho boosted their price target on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. The Goldman Sachs Group raised their price objective 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. Bank of America boosted their price objective on Intra-Cellular Therapies from $74.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Finally, Robert W. Baird assumed coverage on shares of Intra-Cellular Therapies in a report on Wednesday, January 3rd. They set an “outperform” rating and a $83.00 price target for the company. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.17.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI opened at $76.69 on Tuesday. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89. The company has a market cap of $7.42 billion, a PE ratio of -52.53 and a beta of 1.02. The firm’s 50 day simple moving average is $69.14 and its 200 day simple moving average is $63.73.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating 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 business had revenue of $132.10 million for the quarter, compared to analyst estimates of $135.97 million. During the same quarter in the previous year, the business earned ($0.45) earnings per share. Intra-Cellular Therapies’s revenue for the quarter was up 50.3% on a year-over-year basis. Equities research analysts expect that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insider Buying and Selling

In other Intra-Cellular Therapies news, EVP Michael Halstead sold 7,907 shares of the 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 directly owns 29,700 shares in the company, valued at $2,065,041. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Lawrence J. Hineline sold 13,337 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $69.43, for a total transaction of $925,987.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael Halstead sold 7,907 shares of the 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 sale, the executive vice president now directly owns 29,700 shares in the company, valued at $2,065,041. The disclosure for this sale can be found here. Insiders sold a total of 168,487 shares of company stock worth $11,364,950 in the last 90 days. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several large investors have recently bought and sold shares of ITCI. Kapitalo Investimentos Ltda purchased a new stake in shares of Intra-Cellular Therapies in the fourth quarter valued at about $26,000. Lazard Asset Management LLC acquired a new position in Intra-Cellular Therapies in the 2nd quarter valued at about $29,000. Signaturefd LLC grew its stake in shares of Intra-Cellular Therapies by 85.7% in the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 239 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Intra-Cellular Therapies during the 3rd quarter valued at approximately $45,000. Finally, Coppell Advisory Solutions Corp. acquired a new position 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.

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.