Intra-Cellular Therapies (NASDAQ:ITCI) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research note issued to investors on Wednesday, Benzinga reports. Needham & Company LLC currently has a $100.00 price target on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada reaffirmed an outperform rating and set a $103.00 price objective on shares of Intra-Cellular Therapies in a research report on Tuesday, June 25th. JPMorgan Chase & Co. raised their price target on Intra-Cellular Therapies from $75.00 to $78.00 and gave the stock an overweight rating in a research report on Wednesday, June 12th. Mizuho boosted their price objective on Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a buy rating in a report on Friday, June 21st. The Goldman Sachs Group increased their target price on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a neutral rating in a research note on Wednesday, April 17th. Finally, Robert W. Baird lifted their target price on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an outperform rating in a research report on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Intra-Cellular Therapies presently has an average rating of Moderate Buy and a consensus target price of $96.73.

Intra-Cellular Therapies Stock Performance

Shares of Intra-Cellular Therapies stock traded down $0.81 during trading hours on Wednesday, hitting $73.61. The company’s stock had a trading volume of 519,649 shares, compared to its average volume of 1,006,532. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of -63.46 and a beta of 1.01. Intra-Cellular Therapies has a twelve month low of $45.50 and a twelve month high of $84.89. The firm has a fifty day moving average of $73.67 and a 200-day moving average of $70.58.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.03. The firm had revenue of $161.40 million for the quarter, compared to analyst estimates of $157.74 million. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. Intra-Cellular Therapies’s revenue was up 45.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.45) EPS. On average, sell-side analysts expect that Intra-Cellular Therapies will post -0.54 earnings per share for the current fiscal year.

Insider Transactions at Intra-Cellular Therapies

In related news, Director Rory B. Riggs sold 4,462 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $75.57, for a total value of $337,193.34. Following the sale, the director now owns 116,600 shares of the company’s stock, valued at $8,811,462. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Nostrand Robert L. Van sold 20,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 9,690 shares of the company’s stock, valued at approximately $735,567.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Rory B. Riggs sold 4,462 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the sale, the director now directly owns 116,600 shares in the company, valued at approximately $8,811,462. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Kapitalo Investimentos Ltda purchased a new position in Intra-Cellular Therapies during the 4th quarter worth approximately $26,000. Headlands Technologies LLC acquired a new stake in Intra-Cellular Therapies during the 1st quarter worth $32,000. Signaturefd LLC grew its position in Intra-Cellular Therapies by 85.7% during the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 239 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Intra-Cellular Therapies in the first quarter valued at about $53,000. Finally, Summit Securities Group LLC purchased a new position in shares of Intra-Cellular Therapies during the second quarter worth about $56,000. 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.