Intra-Cellular Therapies (NASDAQ:ITCI) PT Raised to $108.00 at Royal Bank of Canada

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price hoisted by Royal Bank of Canada from $106.00 to $108.00 in a report issued on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the biopharmaceutical company’s stock.

Several other equities research analysts also recently commented on ITCI. The Goldman Sachs Group dropped their target price on Intra-Cellular Therapies from $77.00 to $74.00 and set a neutral rating on the stock in a report on Thursday, August 8th. Needham & Company LLC reissued a buy rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, August 7th. Mizuho upped their target price on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a buy rating in a research note on Friday, June 21st. JPMorgan Chase & Co. lifted their price target 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, Cantor Fitzgerald reissued an overweight rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Intra-Cellular Therapies currently has a consensus rating of Moderate Buy and an average price target of $96.75.

Intra-Cellular Therapies Stock Up 0.9 %

Intra-Cellular Therapies stock opened at $72.89 on Friday. The firm has a fifty day moving average of $74.85 and a 200-day moving average of $72.07. Intra-Cellular Therapies has a 52-week low of $45.50 and a 52-week high of $84.89. The firm has a market capitalization of $7.70 billion, a P/E ratio of -62.84 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly 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. The firm had revenue of $161.40 million during the quarter, compared to the consensus estimate of $157.74 million. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The firm’s quarterly revenue was up 45.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.45) EPS. On average, research analysts expect that Intra-Cellular Therapies will post -0.59 EPS for the current fiscal year.

Insider Transactions at Intra-Cellular Therapies

In related news, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,229,876. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sharon Mates sold 53,013 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $80,970,388.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 transaction of $1,405,047.12. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 175,316 shares of company stock valued at $13,037,345. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Handelsbanken Fonder AB grew its position in shares of Intra-Cellular Therapies by 23.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 26,300 shares of the biopharmaceutical company’s stock valued at $1,924,000 after buying an additional 5,000 shares during the last quarter. Ghisallo Capital Management LLC acquired a new position in Intra-Cellular Therapies in the second quarter valued at approximately $3,424,000. Perceptive Advisors LLC grew its holdings in shares of Intra-Cellular Therapies by 62.6% during the second quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock valued at $117,557,000 after purchasing an additional 661,052 shares during the last quarter. Creative Planning raised its position in shares of Intra-Cellular Therapies by 45.9% during the 2nd quarter. Creative Planning now owns 19,611 shares of the biopharmaceutical company’s stock worth $1,343,000 after purchasing an additional 6,172 shares during the period. Finally, Driehaus Capital Management LLC bought a new stake in shares of Intra-Cellular Therapies in the 2nd quarter worth approximately $14,755,000. 92.33% of the stock is currently owned by institutional investors.

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.