Brokerages Set Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) PT at $94.33

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $94.33.

Several analysts recently commented on ITCI shares. Needham & Company LLC lifted their price target on Intra-Cellular Therapies from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. The Goldman Sachs Group boosted their target price on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Mizuho raised their price target on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Bank of America upped their price objective 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, Cantor Fitzgerald reissued an “overweight” rating and set a $120.00 target price on shares of Intra-Cellular Therapies in a research note on Friday, June 14th.

Insider Buying and Selling at Intra-Cellular Therapies

In related news, Director Rory B. Riggs sold 4,462 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $75.57, for a total transaction of $337,193.34. Following the completion of the sale, the director now directly owns 116,600 shares in the company, valued at $8,811,462. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intra-Cellular Therapies news, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction on Monday, June 24th. The shares were sold at an average price of $75.57, for a total transaction of $337,193.34. Following the sale, the director now owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nostrand Robert L. Van sold 20,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the sale, the director now directly owns 9,690 shares of the company’s stock, valued at approximately $735,567.90. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC acquired a new position in Intra-Cellular Therapies during the third quarter worth $344,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Intra-Cellular Therapies in the third quarter valued at about $248,000. Envestnet Asset Management Inc. increased its position in Intra-Cellular Therapies by 56.4% during the third quarter. Envestnet Asset Management Inc. now owns 126,532 shares of the biopharmaceutical company’s stock worth $6,591,000 after purchasing an additional 45,616 shares during the last quarter. Hsbc Holdings PLC raised its stake in Intra-Cellular Therapies by 34.4% during the third quarter. Hsbc Holdings PLC now owns 4,918 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 1,259 shares during the period. Finally, Federated Hermes Inc. acquired a new position in Intra-Cellular Therapies in the 3rd quarter valued at about $457,000. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Intra-Cellular Therapies Trading Up 0.8 %

ITCI opened at $69.07 on Friday. The firm has a 50 day moving average of $69.01 and a two-hundred day moving average of $69.11. The firm has a market capitalization of $7.29 billion, a PE ratio of -59.54 and a beta of 1.01. 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 posted its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.15. The company had revenue of $144.90 million for the quarter, compared to analyst estimates of $141.41 million. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. The firm’s revenue was up 52.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.46) earnings per share. As a group, analysts predict that Intra-Cellular Therapies will post -0.51 EPS for the current fiscal year.

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.