Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Receives $60.43 Average PT from Analysts

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCIGet Rating) have earned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $60.43.

A number of analysts have weighed in on ITCI shares. Needham & Company LLC raised their price target on Intra-Cellular Therapies from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, February 25th. SVB Leerink lifted their target price on Intra-Cellular Therapies from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, April 21st. StockNews.com initiated coverage on Intra-Cellular Therapies in a research report on Thursday, March 31st. They set a “sell” rating on the stock. The Goldman Sachs Group initiated coverage on Intra-Cellular Therapies in a research report on Wednesday, February 16th. They set a “buy” rating and a $64.00 target price on the stock. Finally, Piper Sandler initiated coverage on Intra-Cellular Therapies in a research report on Friday, April 22nd. They set a “neutral” rating and a $59.00 target price on the stock.

Shares of NASDAQ ITCI opened at $59.10 on Friday. The stock has a market cap of $5.57 billion, a P/E ratio of -16.28 and a beta of 1.28. Intra-Cellular Therapies has a 12-month low of $28.40 and a 12-month high of $66.00. The business’s fifty day simple moving average is $57.87 and its 200-day simple moving average is $50.12.

Intra-Cellular Therapies (NASDAQ:ITCIGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.14. Intra-Cellular Therapies had a negative return on equity of 53.93% and a negative net margin of 294.89%. The company had revenue of $35.00 million for the quarter, compared to analysts’ expectations of $33.52 million. During the same period last year, the firm earned ($0.65) earnings per share. Intra-Cellular Therapies’s quarterly revenue was up 120.1% on a year-over-year basis. As a group, sell-side analysts expect that Intra-Cellular Therapies will post -2.98 earnings per share for the current fiscal year.

In other Intra-Cellular Therapies news, Director Joel S. Marcus sold 10,000 shares of Intra-Cellular Therapies stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $55.00, for a total value of $550,000.00. Following the sale, the director now owns 54,233 shares of the company’s stock, valued at approximately $2,982,815. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Suresh K. Durgam sold 4,177 shares of Intra-Cellular Therapies stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $55.29, for a total value of $230,946.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 290,157 shares of company stock worth $17,074,262. Corporate insiders own 13.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in ITCI. Morgan Stanley boosted its holdings in Intra-Cellular Therapies by 51.4% in the 2nd quarter. Morgan Stanley now owns 663,263 shares of the biopharmaceutical company’s stock valued at $27,074,000 after purchasing an additional 225,202 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Intra-Cellular Therapies by 54.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,233 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 1,137 shares in the last quarter. Swiss National Bank boosted its stake in shares of Intra-Cellular Therapies by 0.6% during the 3rd quarter. Swiss National Bank now owns 152,500 shares of the biopharmaceutical company’s stock worth $5,685,000 after acquiring an additional 900 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Intra-Cellular Therapies by 4.6% during the 3rd quarter. Principal Financial Group Inc. now owns 31,372 shares of the biopharmaceutical company’s stock worth $1,170,000 after acquiring an additional 1,392 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Intra-Cellular Therapies by 0.3% during the 3rd quarter. BlackRock Inc. now owns 5,736,396 shares of the biopharmaceutical company’s stock worth $213,852,000 after acquiring an additional 17,547 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors.

Intra-Cellular Therapies Company Profile (Get Rating)

Intra-Cellular Therapies, Inc, a biopharmaceutical company, develops novel drugs for the treatment of neuropsychiatric and neurologic diseases by targeting intracellular signaling mechanisms within the central nervous system in the United States. The company offers CAPLYTA for the treatment of schizophrenia in adults.

Further Reading

Analyst Recommendations for Intra-Cellular Therapies (NASDAQ:ITCI)

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