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

Cantor Fitzgerald reissued their overweight rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research note issued to investors on Monday, Benzinga reports. The firm currently has a $130.00 price objective on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently commented on the company. UBS Group decreased their target price on Intra-Cellular Therapies from $83.00 to $79.00 and set a neutral rating for the company in a research note on Thursday, August 8th. Canaccord Genuity Group raised their price objective on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a buy rating in a research report on Thursday, June 20th. Royal Bank of Canada dropped their target price on shares of Intra-Cellular Therapies from $107.00 to $106.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their target price on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an overweight rating in a research note on Wednesday, August 21st. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Intra-Cellular Therapies currently has a consensus rating of Moderate Buy and an average target price of $96.58.

Intra-Cellular Therapies Stock Performance

Intra-Cellular Therapies stock opened at $76.97 on Monday. The firm has a 50 day moving average price of $75.68 and a two-hundred day moving average price of $71.37. Intra-Cellular Therapies has a 52-week low of $45.50 and a 52-week high of $84.89. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of -66.35 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results 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. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The business had revenue of $161.40 million for the quarter, compared to analyst estimates of $157.74 million. During the same quarter in the previous year, the business earned ($0.45) earnings per share. Intra-Cellular Therapies’s revenue for the quarter was up 45.7% on a year-over-year basis. As a group, equities research analysts predict that Intra-Cellular Therapies will post -0.59 EPS for the current fiscal year.

Insider Activity

In related news, Director Rory B. Riggs sold 4,462 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $75.57, for a total transaction of $337,193.34. Following the transaction, the director now directly owns 116,600 shares in the company, valued at $8,811,462. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Rory B. Riggs sold 4,462 shares of the 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 of the company’s stock, valued at $8,811,462. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of Intra-Cellular Therapies stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the sale, the executive vice president now owns 29,700 shares in the company, valued at $2,229,876. The disclosure for this sale can be found here. Insiders sold a total of 179,778 shares of company stock worth $13,374,538 over the last quarter. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of hedge funds and other institutional investors have recently made changes to their positions in ITCI. Kapitalo Investimentos Ltda purchased a new stake in Intra-Cellular Therapies during the fourth quarter worth about $26,000. Headlands Technologies LLC purchased a new stake in shares of Intra-Cellular Therapies during the 1st quarter worth approximately $32,000. Fidelis Capital Partners LLC bought a new stake in shares of Intra-Cellular Therapies in the 1st quarter worth approximately $53,000. Summit Securities Group LLC purchased a new position in Intra-Cellular Therapies in the second quarter valued at approximately $56,000. Finally, Cape Investment Advisory Inc. purchased a new position in Intra-Cellular Therapies in the fourth quarter valued at approximately $78,000. 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.