Intra-Cellular Therapies (NASDAQ:ITCI) Receives Buy Rating from Needham & Company LLC

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

ITCI has been the subject of a number of other reports. Morgan Stanley upped their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their target price on Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. 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 report on Thursday, August 8th. Finally, Royal Bank of Canada increased their price objective 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. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $96.62.

Intra-Cellular Therapies Stock Performance

Intra-Cellular Therapies stock opened at $85.47 on Wednesday. Intra-Cellular Therapies has a 1 year low of $46.10 and a 1 year high of $88.00. The firm’s 50 day moving average price is $74.53 and its two-hundred day moving average price is $72.96. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of -73.68 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The business had revenue of $161.40 million for the quarter, compared to analysts’ expectations of $157.74 million. During the same period in the previous year, the firm posted ($0.45) EPS. The company’s quarterly revenue was up 45.7% on a year-over-year basis. As a group, equities analysts predict that Intra-Cellular Therapies will post -0.6 EPS for the current fiscal year.

Insider Transactions at Intra-Cellular Therapies

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new stake in Intra-Cellular Therapies during the first quarter worth approximately $32,000. Fidelis Capital Partners LLC bought a new stake in shares of Intra-Cellular Therapies during the 1st quarter worth $53,000. Summit Securities Group LLC acquired a new position in Intra-Cellular Therapies in the 2nd quarter valued at $56,000. CWM LLC raised its holdings in Intra-Cellular Therapies by 83.9% in 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 period. Finally, EntryPoint Capital LLC lifted its position in Intra-Cellular Therapies by 138.7% during the 1st quarter. EntryPoint Capital LLC now owns 2,167 shares of the biopharmaceutical company’s stock worth $150,000 after acquiring an additional 1,259 shares during the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

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.