Intra-Cellular Therapies (NASDAQ:ITCI) PT Raised to $91.00 at Bank of America

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price upped by stock analysts at Bank of America from $82.00 to $91.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s target price points to a potential upside of 26.39% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Robert W. Baird initiated coverage on shares of Intra-Cellular Therapies in a report on Wednesday, January 3rd. They set an “outperform” rating and a $83.00 price objective for the company. Canaccord Genuity Group cut their price objective on shares of Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $101.00 price objective on shares of Intra-Cellular Therapies in a report on Friday, February 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $86.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Finally, Mizuho increased their price objective on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a “buy” rating in a report on Friday, February 16th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.17.

Intra-Cellular Therapies Trading Down 6.1 %

NASDAQ ITCI opened at $72.00 on Wednesday. Intra-Cellular Therapies has a 12 month low of $45.50 and a 12 month high of $84.89. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of -49.31 and a beta of 1.02. The company’s 50 day moving average is $69.31 and its two-hundred day moving average is $63.82.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates 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 business earned ($0.45) EPS. The firm’s revenue was up 50.3% compared to the same quarter last year. Sell-side analysts forecast that Intra-Cellular Therapies will post -0.69 EPS for the current year.

Insider Activity at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 22,590 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.79, for a total value of $1,576,556.10. Following the completion of the transaction, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at $73,301,065.11. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Joel S. Marcus sold 26,328 shares of Intra-Cellular Therapies stock in a transaction on 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 completion of the sale, the director now directly owns 39,662 shares in the company, valued at $2,723,986.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sharon Mates sold 22,590 shares of Intra-Cellular Therapies stock in a transaction on Monday, February 26th. The stock was sold at an average price of $69.79, for a total value of $1,576,556.10. Following the sale, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $73,301,065.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,487 shares of company stock valued at $11,364,950. 3.40% of the stock is owned by corporate insiders.

Institutional Trading of Intra-Cellular Therapies

Several institutional investors and hedge funds have recently made changes to their positions in ITCI. Kapitalo Investimentos Ltda bought a new stake in shares of Intra-Cellular Therapies in the fourth quarter valued at about $26,000. Lazard Asset Management LLC bought a new stake in shares of Intra-Cellular Therapies in the second quarter valued at about $29,000. Signaturefd LLC raised its holdings in shares of 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 shares of Intra-Cellular Therapies in the third quarter valued at about $45,000. Finally, Coppell Advisory Solutions Corp. bought a new stake in shares of Intra-Cellular Therapies in the fourth quarter valued at about $47,000. 92.33% of the stock is currently owned by institutional investors.

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.