Intra-Cellular Therapies (NASDAQ:ITCI) PT Raised to $90.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target raised by TD Cowen from $80.00 to $90.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other research firms also recently commented on ITCI. Bank of America increased their target price 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. Needham & Company LLC reaffirmed a buy rating and set a $82.00 price objective on shares of Intra-Cellular Therapies in a report on Tuesday. Canaccord Genuity Group reduced their target price on Intra-Cellular Therapies from $101.00 to $100.00 and set a buy rating for the company in a report on Friday, February 23rd. 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 note on Friday, February 16th. Finally, Robert W. Baird boosted their price objective on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an outperform rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Intra-Cellular Therapies presently has an average rating of Moderate Buy and an average target price of $86.17.

Intra-Cellular Therapies Stock Performance

ITCI opened at $76.69 on Wednesday. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89. The company has a market cap of $7.42 billion, a P/E ratio of -52.53 and a beta of 1.02. The business’s 50-day simple moving average is $69.14 and its 200-day simple moving average is $63.73.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced 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. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The company had revenue of $132.10 million for the quarter, compared to analyst estimates of $135.97 million. During the same period in the prior year, the firm posted ($0.45) earnings per share. The firm’s revenue was up 50.3% on a year-over-year basis. As a group, analysts predict that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 40,712 shares of Intra-Cellular Therapies stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.50, for a total value of $2,707,348.00. Following the transaction, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $69,845,548.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 40,712 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $66.50, for a total transaction of $2,707,348.00. Following the completion of the transaction, the chief executive officer now owns 1,050,309 shares in the company, valued at approximately $69,845,548.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Lawrence J. Hineline sold 10,121 shares of Intra-Cellular Therapies stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.96, for a total transaction of $667,581.16. The disclosure for this sale can be found here. Insiders sold a total of 168,487 shares of company stock valued at $11,364,950 in the last ninety days. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in shares of Intra-Cellular Therapies by 11.7% in the first quarter. JPMorgan Chase & Co. now owns 157,144 shares of the biopharmaceutical company’s stock valued at $9,615,000 after buying an additional 16,454 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Intra-Cellular Therapies by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 385,508 shares of the biopharmaceutical company’s stock valued at $23,591,000 after acquiring an additional 18,999 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Intra-Cellular Therapies during the 1st quarter worth $349,000. PNC Financial Services Group Inc. grew its stake in shares of Intra-Cellular Therapies by 25.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,909 shares of the biopharmaceutical company’s stock worth $363,000 after purchasing an additional 1,204 shares during the period. Finally, Natixis Advisors L.P. increased its holdings in shares of Intra-Cellular Therapies by 71.3% in the 1st quarter. Natixis Advisors L.P. now owns 18,165 shares of the biopharmaceutical company’s stock valued at $1,112,000 after purchasing an additional 7,558 shares in 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.