The Goldman Sachs Group Increases Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $77.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price hoisted by The Goldman Sachs Group from $67.00 to $77.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the biopharmaceutical company’s stock.

ITCI has been the subject of a number of other reports. Needham & Company LLC reissued a buy rating and issued a $82.00 target price on shares of Intra-Cellular Therapies in a report on Tuesday. Royal Bank of Canada reissued an outperform rating and issued a $86.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Mizuho raised their price target on Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a buy rating in a report on Friday, February 16th. Bank of America raised their price target on Intra-Cellular Therapies from $74.00 to $82.00 and gave the company a buy rating in a report on Tuesday, January 2nd. Finally, Canaccord Genuity Group dropped their price target 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. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $86.17.

Intra-Cellular Therapies Stock Up 0.5 %

Intra-Cellular Therapies stock opened at $72.37 on Wednesday. The business has a 50 day moving average price of $69.31 and a two-hundred day moving average price of $63.87. 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. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The firm had revenue of $132.10 million during the quarter, compared to analysts’ expectations of $135.97 million. During the same quarter in the prior year, the firm posted ($0.45) EPS. The company’s revenue for the quarter was up 50.3% on a year-over-year basis. Equities research analysts forecast that Intra-Cellular Therapies will post -0.69 EPS for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 22,590 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 22,590 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Halstead sold 7,907 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $69.53, for a total value of $549,773.71. Following the completion of the transaction, the executive vice president now owns 29,700 shares in the company, valued at $2,065,041. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,487 shares of company stock worth $11,364,950. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Xponance Inc. boosted its position in shares of Intra-Cellular Therapies by 3.0% in the 4th 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 last quarter. 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 during 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 during the last quarter. Bailard Inc. raised its stake in Intra-Cellular Therapies by 1.2% during 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 period. Finally, Global Retirement Partners LLC raised its stake 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 worth $89,000 after buying an additional 213 shares during the period. 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.