Intra-Cellular Therapies (NASDAQ:ITCI) PT Raised to $90.00 at Needham & Company LLC

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target increased by Needham & Company LLC from $82.00 to $90.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other analysts have also issued reports on ITCI. Royal Bank of Canada reaffirmed an outperform rating and set a $86.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Cantor Fitzgerald reaffirmed an overweight rating and set a $101.00 target price on shares of Intra-Cellular Therapies in a research report on Friday, February 23rd. Mizuho boosted their price objective on Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a buy rating in a report on Monday. Bank of America boosted their price objective on Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a buy rating in a report on Wednesday, April 17th. Finally, Robert W. Baird boosted their price objective on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an outperform rating in a report on Wednesday, April 17th. Two investment 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 a consensus price target of $90.17.

Intra-Cellular Therapies Price Performance

Shares of ITCI opened at $73.12 on Monday. The stock’s 50-day moving average is $69.44 and its two-hundred day moving average is $64.58. The stock has a market cap of $7.08 billion, a PE ratio of -50.08 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 announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The business had revenue of $132.10 million for the quarter, compared to analyst estimates of $135.97 million. During the same period in the previous year, the company earned ($0.45) earnings per share. The company’s revenue for the quarter was up 50.3% compared to the same quarter last year. On average, research analysts anticipate that Intra-Cellular Therapies will post -0.62 earnings per share for the current year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total value of $429,312.00. Following the completion of the sale, the executive vice president now directly owns 16,170 shares in the company, valued at $1,076,275.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total value of $429,312.00. Following the completion of the sale, the executive vice president now directly owns 16,170 shares in the company, valued at $1,076,275.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Halstead sold 7,907 shares of the company’s stock in a transaction that occurred on 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 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 worth $11,364,950 over the last ninety days. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Kapitalo Investimentos Ltda bought a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at $26,000. Signaturefd LLC increased 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 buying an additional 239 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Intra-Cellular Therapies in the third quarter valued at $45,000. Cape Investment Advisory Inc. bought a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at $78,000. Finally, Parallel Advisors LLC increased its holdings in shares of Intra-Cellular Therapies by 16.3% in the fourth quarter. Parallel Advisors LLC now owns 1,564 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 219 shares in the last quarter. Institutional investors 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.