The Goldman Sachs Group Increases Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $77.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target boosted by The Goldman Sachs Group from $67.00 to $77.00 in a research report released on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Needham & Company LLC reaffirmed a buy rating and issued a $82.00 target price on shares of Intra-Cellular Therapies in a research note on Tuesday. Canaccord Genuity Group lowered their target price on shares of 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. Robert W. Baird assumed coverage on shares of Intra-Cellular Therapies in a research note on Wednesday, January 3rd. They set an outperform rating and a $83.00 price target on the stock. Cantor Fitzgerald reissued an overweight rating and set a $101.00 price target on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. Finally, Royal Bank of Canada reissued an outperform rating and set 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 company’s stock. Based on data from MarketBeat, Intra-Cellular Therapies presently has an average rating of Moderate Buy and an average price target of $86.17.

Intra-Cellular Therapies Stock Down 3.9 %

Shares of ITCI opened at $76.69 on Wednesday. The firm’s 50 day simple moving average is $69.14 and its 200 day simple moving average is $63.73. Intra-Cellular Therapies has a 1-year low of $45.50 and a 1-year high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates 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%. Intra-Cellular Therapies’s quarterly revenue was up 50.3% on a year-over-year basis. During the same period last year, the firm posted ($0.45) earnings per share. On average, sell-side analysts anticipate that Intra-Cellular Therapies will post -0.69 EPS for the current year.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 20,565 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $65.21, for a total value of $1,341,043.65. Following the transaction, the chief executive officer now owns 1,050,309 shares in the company, valued at $68,490,649.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Joel S. Marcus sold 26,328 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 39,662 shares in the company, valued at $2,723,986.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sharon Mates sold 20,565 shares of the firm’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,487 shares of company stock worth $11,364,950. Insiders own 3.40% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Several large investors have recently added to or reduced their stakes in ITCI. Kapitalo Investimentos Ltda bought a new stake in Intra-Cellular Therapies in the fourth quarter valued at $26,000. Lazard Asset Management LLC bought a new stake in Intra-Cellular Therapies in the second quarter valued at $29,000. Signaturefd LLC boosted 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 acquiring an additional 239 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Intra-Cellular Therapies in the third quarter valued at $45,000. Finally, Coppell Advisory Solutions Corp. bought a new stake in Intra-Cellular Therapies in the fourth quarter valued at $47,000. Institutional investors own 92.33% of the company’s stock.

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.