Intra-Cellular Therapies (NASDAQ:ITCI) PT Raised to $100.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target lifted by Needham & Company LLC from $94.00 to $100.00 in a research note released on Monday, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other analysts also recently weighed in on ITCI. Canaccord Genuity Group increased their price target on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a buy rating in a research report on Thursday, June 20th. Royal Bank of Canada reissued an outperform rating and set a $103.00 price target on shares of Intra-Cellular Therapies in a research report on Tuesday, June 25th. Mizuho upped their price objective 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 lifted their target price on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. increased their price target on Intra-Cellular Therapies from $75.00 to $78.00 and gave the stock an overweight rating in a report on Wednesday, June 12th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Intra-Cellular Therapies presently has an average rating of Moderate Buy and a consensus price target of $94.83.

Intra-Cellular Therapies Stock Performance

Shares of ITCI stock opened at $80.84 on Monday. The firm’s 50 day moving average price is $71.22 and its two-hundred day moving average price is $69.84. Intra-Cellular Therapies has a 52-week low of $45.50 and a 52-week high of $84.89. The stock has a market cap of $8.53 billion, a PE ratio of -69.69 and a beta of 1.01.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.15. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The business had revenue of $144.90 million during the quarter, compared to analysts’ expectations of $141.41 million. During the same period in the previous year, the firm earned ($0.46) earnings per share. The firm’s quarterly revenue was up 52.0% compared to the same quarter last year. As a group, sell-side analysts predict that Intra-Cellular Therapies will post -0.53 earnings per share for the current fiscal year.

Insider Transactions at Intra-Cellular Therapies

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

Hedge Funds Weigh In On Intra-Cellular Therapies

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Intra-Cellular Therapies by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 9,225,981 shares of the biopharmaceutical company’s stock valued at $638,438,000 after acquiring an additional 131,679 shares during the period. Wasatch Advisors LP grew its holdings in Intra-Cellular Therapies by 6.3% during the first quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock worth $266,748,000 after purchasing an additional 227,439 shares during the period. Avoro Capital Advisors LLC increased its position in Intra-Cellular Therapies by 9.7% during the first quarter. Avoro Capital Advisors LLC now owns 2,475,000 shares of the biopharmaceutical company’s stock worth $171,270,000 after buying an additional 219,445 shares during the last quarter. Clearbridge Investments LLC raised its stake in Intra-Cellular Therapies by 12.3% in the first quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock valued at $120,723,000 after buying an additional 191,416 shares during the period. Finally, Norges Bank acquired a new stake in shares of Intra-Cellular Therapies in the fourth quarter valued at approximately $85,744,000. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Intra-Cellular Therapies Company Profile

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.