Bank of America Increases Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $91.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price hoisted by Bank of America from $82.00 to $91.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also weighed in on the company. Canaccord Genuity Group lowered their price objective on Intra-Cellular Therapies from $101.00 to $100.00 and set a buy rating on the stock in a research note on Friday, February 23rd. Robert W. Baird initiated coverage on Intra-Cellular Therapies in a research note on Wednesday, January 3rd. They issued an outperform rating and a $83.00 price objective on the stock. Royal Bank of Canada reiterated an outperform rating and issued a $86.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Mizuho upped their price objective on Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a buy rating in a research note on Friday, February 16th. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $101.00 price objective on shares of Intra-Cellular Therapies in a research note 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.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $86.17.

Intra-Cellular Therapies Stock Down 3.9 %

Intra-Cellular Therapies stock opened at $76.69 on Wednesday. The business has a 50 day moving average price of $69.14 and a two-hundred day moving average price of $63.73. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of -52.53 and a beta of 1.02. Intra-Cellular Therapies has a 12 month low of $45.50 and a 12 month high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.14. The firm 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%. The company’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.45) EPS. On average, analysts expect that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Suresh K. Durgam sold 6,450 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total transaction of $429,312.00. Following the sale, the executive vice president now directly owns 16,170 shares in the company, valued at approximately $1,076,275.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total transaction of $429,312.00. Following the transaction, the executive vice president now owns 16,170 shares of the company’s stock, valued at approximately $1,076,275.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sharon Mates sold 22,590 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $69.79, for a total value of $1,576,556.10. Following the transaction, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $73,301,065.11. The disclosure for this sale can be found here. Insiders have sold a total of 168,487 shares of company stock worth $11,364,950 in the last three months. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Kapitalo Investimentos Ltda acquired a new position in Intra-Cellular Therapies during the 4th quarter worth $26,000. Lazard Asset Management LLC acquired a new position in Intra-Cellular Therapies during the 2nd quarter worth $29,000. Signaturefd LLC lifted its holdings in Intra-Cellular Therapies by 85.7% during the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 239 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Intra-Cellular Therapies during the 3rd quarter worth $45,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in shares of Intra-Cellular Therapies in the 4th quarter valued at $47,000. Institutional investors and hedge funds own 92.33% of the company’s stock.

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.