Intra-Cellular Therapies (NASDAQ:ITCI) PT Raised to $90.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target boosted by Needham & Company LLC from $82.00 to $90.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s price target indicates a potential upside of 21.61% from the company’s current price.

Several other analysts have also recently commented on ITCI. TD Cowen upped their target price on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $101.00 target price on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. The Goldman Sachs Group upped their target price on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Bank of America boosted their price target on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, Canaccord Genuity Group cut their price target on shares of Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.58.

Intra-Cellular Therapies Trading Down 0.7 %

NASDAQ:ITCI opened at $74.01 on Monday. Intra-Cellular Therapies has a 1 year low of $45.50 and a 1 year high of $84.89. The firm has a 50 day moving average of $69.41 and a 200-day moving average of $64.52. The stock has a market capitalization of $7.16 billion, a P/E ratio of -50.69 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $135.97 million. During the same quarter in the previous year, the company posted ($0.45) earnings per share. Intra-Cellular Therapies’s quarterly revenue was up 50.3% compared to the same quarter last year. As a group, analysts forecast that Intra-Cellular Therapies will post -0.67 EPS for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 20,565 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,050,309 shares in the company, valued at approximately $68,490,649.89. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Sharon Mates sold 20,565 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $68,490,649.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Lawrence J. Hineline sold 13,337 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $69.43, for a total transaction of $925,987.91. The disclosure for this sale can be found here. Insiders have sold a total of 168,487 shares of company stock valued at $11,364,950 in the last three months. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Intra-Cellular Therapies

Hedge funds have recently added to or reduced their stakes in the stock. Kapitalo Investimentos Ltda acquired a new stake in Intra-Cellular Therapies in the fourth quarter valued at approximately $26,000. Signaturefd LLC raised its stake in Intra-Cellular Therapies by 85.7% during the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 239 shares during the last quarter. Neo Ivy Capital Management bought a new position in Intra-Cellular Therapies during the third quarter worth $45,000. Cape Investment Advisory Inc. acquired a new stake in Intra-Cellular Therapies in the fourth quarter worth $78,000. Finally, CI Investments Inc. grew its holdings in Intra-Cellular Therapies by 1,191.6% in the third quarter. CI Investments Inc. now owns 1,692 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 1,561 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.

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.