Intra-Cellular Therapies (NASDAQ:ITCI) Given New $107.00 Price Target at Canaccord Genuity Group

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price increased by Canaccord Genuity Group from $100.00 to $107.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also issued reports on the stock. 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. Robert W. Baird increased their price objective on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an outperform rating in a report on Wednesday, April 17th. Mizuho increased their price objective on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a buy rating in a report on Monday. Royal Bank of Canada reissued an outperform rating and issued a $86.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Finally, TD Cowen boosted 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 report 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 MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $88.58.

Intra-Cellular Therapies Trading Down 0.7 %

Intra-Cellular Therapies stock opened at $74.01 on Tuesday. The firm has a 50 day moving average of $69.41 and a 200 day moving average of $64.52. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of -50.69 and a beta of 1.02. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89.

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, 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 during the quarter, compared to analyst estimates of $135.97 million. During the same period in the prior year, the firm posted ($0.45) EPS. The firm’s quarterly revenue was up 50.3% compared to the same quarter last year. On average, analysts predict that Intra-Cellular Therapies will post -0.67 EPS for the current year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, EVP Michael Halstead sold 7,907 shares of Intra-Cellular Therapies stock in a transaction on Monday, February 26th. The shares were 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 directly owns 29,700 shares of the company’s stock, valued at $2,065,041. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Intra-Cellular Therapies 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 completion of the transaction, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at $68,490,649.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Halstead sold 7,907 shares of Intra-Cellular Therapies 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 transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,065,041. The disclosure for this sale can be found here. Insiders 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

Large investors have recently made changes to their positions in the stock. Quantum Private Wealth LLC boosted its stake in shares of Intra-Cellular Therapies by 64.7% during the fourth quarter. Quantum Private Wealth LLC now owns 23,705 shares of the biopharmaceutical company’s stock valued at $1,698,000 after purchasing an additional 9,308 shares during the period. HealthInvest Partners AB purchased a new stake in shares of Intra-Cellular Therapies during the fourth quarter valued at $877,000. Phocas Financial Corp. purchased a new stake in shares of Intra-Cellular Therapies during the fourth quarter valued at $1,949,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Intra-Cellular Therapies by 209.4% during the third 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 purchasing an additional 104,700 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Intra-Cellular Therapies by 36.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 974,914 shares of the biopharmaceutical company’s stock valued at $50,783,000 after purchasing an additional 259,424 shares during the period. 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.