Intra-Cellular Therapies (NASDAQ:ITCI) Given New $95.00 Price Target at Morgan Stanley

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price boosted by Morgan Stanley from $92.00 to $95.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently commented on the stock. Piper Sandler raised shares of Intra-Cellular Therapies from a neutral rating to an overweight rating and lifted their price objective for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. UBS Group lowered their price target on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a neutral rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group boosted their price objective on Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a buy rating in a report on Thursday, June 20th. Royal Bank of Canada increased their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an outperform rating in a research note on Friday, October 4th. Finally, Mizuho boosted their price target on Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a buy rating in a research note on Friday, June 21st. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Intra-Cellular Therapies has an average rating of Moderate Buy and an average target price of $96.62.

Intra-Cellular Therapies Price Performance

Intra-Cellular Therapies stock opened at $75.76 on Friday. The company’s 50-day moving average is $74.38 and its 200-day moving average is $72.13. The firm has a market capitalization of $8.01 billion, a PE ratio of -87.08 and a beta of 1.00. Intra-Cellular Therapies has a fifty-two week low of $45.50 and a fifty-two week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last released 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 return on equity of 11.48% and a negative net margin of 14.93%. The business’s revenue for the quarter was up 45.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.45) earnings per share. As a group, analysts expect that Intra-Cellular Therapies will post -0.59 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at approximately $2,229,876. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, 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 transaction, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,229,876. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 175,316 shares of company stock worth $13,037,345 over the last ninety days. Corporate insiders own 2.60% 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 stock. Kapitalo Investimentos Ltda bought a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth $26,000. Headlands Technologies LLC acquired a new stake in shares of Intra-Cellular Therapies during the first quarter valued at about $32,000. Fidelis Capital Partners LLC acquired a new position in shares of Intra-Cellular Therapies in the first quarter valued at approximately $53,000. Summit Securities Group LLC acquired a new position in shares of Intra-Cellular Therapies in the second quarter valued at approximately $56,000. Finally, CWM LLC grew its holdings in Intra-Cellular Therapies by 83.9% during the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 626 shares during the last quarter. 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.