Intra-Cellular Therapies (NASDAQ:ITCI) Rating Reiterated by Cantor Fitzgerald

Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “overweight” rating restated by equities research analysts at Cantor Fitzgerald in a note issued to investors on Wednesday, Benzinga reports. They presently have a $120.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 66.37% from the stock’s previous close.

Several other equities analysts have also weighed in on the company. Canaccord Genuity Group lifted their price objective on Intra-Cellular Therapies from $100.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. TD Cowen upped their target price on Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Bank of America increased 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, Robert W. Baird boosted their target price on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.17.

Intra-Cellular Therapies Stock Down 1.4 %

NASDAQ ITCI opened at $72.13 on Wednesday. Intra-Cellular Therapies has a fifty-two week low of $45.50 and a fifty-two week high of $84.89. The business has a fifty day moving average of $69.38 and a 200-day moving average of $64.63. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of -49.40 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share 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 company had revenue of $132.10 million for the quarter, compared to analyst estimates of $135.97 million. During the same quarter in the prior year, the company posted ($0.45) EPS. The business’s revenue for the quarter was up 50.3% compared to the same quarter last year. As a group, analysts anticipate that Intra-Cellular Therapies will post -0.62 EPS for the current year.

Insider Buying and Selling

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 22,590 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the transaction, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at approximately $73,301,065.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Lawrence J. Hineline sold 10,121 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $65.96, for a total transaction of $667,581.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sharon Mates sold 22,590 shares of the firm’s 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 directly 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. Insiders sold 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 corporate insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several hedge funds have recently modified their holdings of the stock. Kapitalo Investimentos Ltda purchased a new stake in shares of Intra-Cellular Therapies in the fourth quarter valued at $26,000. Signaturefd LLC grew its position in Intra-Cellular Therapies by 85.7% in the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $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 worth $45,000. Cape Investment Advisory Inc. acquired a new position in shares of Intra-Cellular Therapies during the 4th quarter valued at about $78,000. Finally, CI Investments Inc. grew its holdings in Intra-Cellular Therapies by 1,191.6% during the third quarter. CI Investments Inc. now owns 1,692 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 1,561 shares during the last quarter. 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.