Intra-Cellular Therapies (NASDAQ:ITCI) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research note published on Tuesday, Benzinga reports. The firm currently has a $82.00 price target on the biopharmaceutical company’s stock.

A number of other analysts have also recently commented on ITCI. Bank of America upped their price target on Intra-Cellular Therapies from $74.00 to $82.00 and gave the stock a buy rating in a research report on Tuesday, January 2nd. Robert W. Baird began coverage on Intra-Cellular Therapies in a research report on Wednesday, January 3rd. They issued an outperform rating and a $83.00 price target for the company. Royal Bank of Canada restated an outperform rating and issued a $86.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. The Goldman Sachs Group upped their price target on Intra-Cellular Therapies from $58.00 to $64.00 and gave the stock a neutral rating in a research report on Thursday, January 18th. Finally, Canaccord Genuity Group reduced their price target on Intra-Cellular Therapies from $101.00 to $100.00 and set a buy rating for the company in a research report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $81.42.

Intra-Cellular Therapies Stock Performance

Intra-Cellular Therapies stock opened at $79.84 on Tuesday. The stock has a market cap of $7.73 billion, a PE ratio of -54.68 and a beta of 1.02. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89. The stock has a fifty day moving average of $68.95 and a 200 day moving average of $63.53.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. The company had revenue of $132.10 million during the quarter, compared to analysts’ expectations of $135.97 million. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. Intra-Cellular Therapies’s revenue for the quarter was up 50.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.45) earnings per share. As a group, sell-side analysts predict that Intra-Cellular Therapies will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 20,565 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the completion of the transaction, the chief executive officer now owns 1,050,309 shares in the company, valued at approximately $68,490,649.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Lawrence J. Hineline sold 13,337 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $69.43, for a total value of $925,987.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sharon Mates sold 20,565 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $65.21, for a total value of $1,341,043.65. Following the completion of the transaction, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at approximately $68,490,649.89. The disclosure for this sale can be found here. Insiders sold 236,404 shares of company stock worth $15,792,460 in the last quarter. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Institutional investors and hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Intra-Cellular Therapies by 209.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 154,700 shares of the biopharmaceutical company’s stock worth $8,058,000 after acquiring an additional 104,700 shares during the last quarter. Phocas Financial Corp. bought a new stake in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $1,949,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Intra-Cellular Therapies by 36.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,914 shares of the biopharmaceutical company’s stock worth $50,783,000 after acquiring an additional 259,424 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Intra-Cellular Therapies by 5.1% during the 3rd quarter. American Century Companies Inc. now owns 441,410 shares of the biopharmaceutical company’s stock worth $22,993,000 after acquiring an additional 21,604 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Intra-Cellular Therapies by 56.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 126,532 shares of the biopharmaceutical company’s stock valued at $6,591,000 after purchasing an additional 45,616 shares in the last quarter. 92.33% of the stock is owned by 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.