Canaccord Genuity Group Increases Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $107.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective boosted by Canaccord Genuity Group from $100.00 to $107.00 in a report released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the company. Robert W. Baird increased their target price on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an outperform rating in a research report on Wednesday, April 17th. Bank of America increased their target price on Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Needham & Company LLC increased their price objective on Intra-Cellular Therapies from $82.00 to $90.00 and gave the company a buy rating in a research note on Monday. Royal Bank of Canada reissued an outperform rating and issued a $86.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Finally, Mizuho increased their price objective on Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a buy rating in a research note on Monday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $88.58.

Intra-Cellular Therapies Price Performance

Shares of NASDAQ:ITCI opened at $74.01 on Tuesday. Intra-Cellular Therapies has a 1 year low of $45.50 and a 1 year high of $84.89. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of -50.69 and a beta of 1.02. The business’s 50 day moving average price is $69.41 and its 200-day moving average price is $64.52.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $135.97 million. During the same quarter last year, the firm posted ($0.45) EPS. The business’s revenue was up 50.3% on a year-over-year basis. On average, sell-side analysts expect that Intra-Cellular Therapies will post -0.67 earnings per share for the current year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, 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 sale, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at approximately $2,065,041. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total value of $429,312.00. Following the completion of the sale, the executive vice president now directly owns 16,170 shares of the company’s stock, valued at approximately $1,076,275.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,065,041. The disclosure for this sale can be found here. Insiders sold 168,487 shares of company stock valued at $11,364,950 in the last three months. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Intra-Cellular Therapies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Intra-Cellular Therapies by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock worth $651,334,000 after purchasing an additional 554,577 shares during the last quarter. Wasatch Advisors LP increased its position in shares of Intra-Cellular Therapies by 6.3% during the 1st quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock worth $266,748,000 after purchasing an additional 227,439 shares during the last quarter. Avoro Capital Advisors LLC acquired a new stake in shares of Intra-Cellular Therapies during the 4th quarter worth about $161,543,000. JPMorgan Chase & Co. increased its position in shares of Intra-Cellular Therapies by 4.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,063,802 shares of the biopharmaceutical company’s stock worth $107,503,000 after purchasing an additional 86,388 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Intra-Cellular Therapies by 6.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,815,954 shares of the biopharmaceutical company’s stock worth $94,593,000 after purchasing an additional 114,370 shares during the last quarter. 92.33% of the stock is owned by institutional investors and hedge funds.

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.