Intra-Cellular Therapies (NASDAQ:ITCI) Given New $103.00 Price Target at Robert W. Baird

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price raised by Robert W. Baird from $83.00 to $103.00 in a report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

Several other equities analysts have also issued reports on the company. Mizuho raised their price target on Intra-Cellular Therapies from $76.00 to $82.00 and gave the stock a buy rating in a research report on Friday, February 16th. The Goldman Sachs Group increased their price objective on Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a neutral rating in a research note on Wednesday. Canaccord Genuity Group decreased their target price on shares of 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. Bank of America increased their price target on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a buy rating in a research report on Wednesday. Finally, Cantor Fitzgerald restated an overweight rating and issued a $101.00 price objective on shares of Intra-Cellular Therapies in a research report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $86.17.

Intra-Cellular Therapies Stock Performance

ITCI stock opened at $76.69 on Wednesday. The firm has a market cap of $7.42 billion, a P/E ratio of -52.53 and a beta of 1.02. The firm’s fifty day moving average is $69.14 and its 200 day moving average is $63.73. Intra-Cellular Therapies has a 52 week low of $45.50 and a 52 week 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) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.14. The business had revenue of $132.10 million during the quarter, compared to analyst estimates of $135.97 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The company’s revenue was up 50.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.45) earnings per share. As a group, analysts forecast that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CFO Lawrence J. Hineline sold 13,337 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.43, for a total value of $925,987.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Intra-Cellular Therapies news, Director Joel S. Marcus sold 26,328 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the completion of the transaction, the director now owns 39,662 shares of the company’s stock, valued at $2,723,986.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Lawrence J. Hineline sold 13,337 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.43, for a total transaction of $925,987.91. The disclosure for this sale can be found here. Insiders have sold 168,487 shares of company stock worth $11,364,950 over the last 90 days. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Xponance Inc. grew its holdings in Intra-Cellular Therapies by 3.0% in the fourth quarter. Xponance Inc. now owns 5,676 shares of the biopharmaceutical company’s stock worth $407,000 after purchasing an additional 163 shares during the period. Regal Investment Advisors LLC boosted its position in shares of Intra-Cellular Therapies by 1.4% in the 3rd quarter. Regal Investment Advisors LLC now owns 13,610 shares of the biopharmaceutical company’s stock worth $709,000 after purchasing an additional 186 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Intra-Cellular Therapies by 0.8% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 26,796 shares of the biopharmaceutical company’s stock worth $1,396,000 after purchasing an additional 200 shares in the last quarter. Bailard Inc. grew its stake in shares of Intra-Cellular Therapies by 1.2% in the 4th quarter. Bailard Inc. now owns 17,080 shares of the biopharmaceutical company’s stock worth $1,223,000 after buying an additional 200 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in Intra-Cellular Therapies by 13.8% during the 3rd quarter. Global Retirement Partners LLC now owns 1,753 shares of the biopharmaceutical company’s stock valued at $89,000 after buying an additional 213 shares in the last quarter. 92.33% of the stock is currently 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.