Intra-Cellular Therapies’ (ITCI) “Overweight” Rating Reiterated at Cantor Fitzgerald

Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a report released on Wednesday, Benzinga reports. They presently have a $120.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 66.37% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Robert W. Baird upped their target price on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. TD Cowen boosted their target price on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Bank of America raised their price target on Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Mizuho lifted their price target on Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a “buy” rating in a research report on Monday. Finally, The Goldman Sachs Group upped their price objective on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Two investment 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $90.17.

Intra-Cellular Therapies Price Performance

Shares of ITCI opened at $72.13 on Wednesday. Intra-Cellular Therapies has a 1 year low of $45.50 and a 1 year high of $84.89. The stock’s fifty day moving average price is $69.38 and its two-hundred day moving average price is $64.63. The firm has a market cap of $6.98 billion, a PE ratio of -49.40 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data 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. The business had revenue of $132.10 million for 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 firm’s quarterly revenue was up 50.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.45) EPS. Sell-side analysts anticipate that Intra-Cellular Therapies will post -0.62 earnings per share for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 22,590 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $69.79, for a total value of $1,576,556.10. Following the completion of the sale, 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 document filed with the SEC, which is available at this hyperlink. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 22,590 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 1,050,309 shares in the company, valued at $73,301,065.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joel S. Marcus sold 26,328 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the sale, the director now directly owns 39,662 shares of the company’s stock, valued at approximately $2,723,986.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,487 shares of company stock valued at $11,364,950. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ITCI. Kapitalo Investimentos Ltda bought a new position in shares of Intra-Cellular Therapies in the 4th quarter worth approximately $26,000. Signaturefd LLC raised its holdings in Intra-Cellular Therapies by 85.7% in the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 239 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Intra-Cellular Therapies in the 3rd quarter worth approximately $45,000. Cape Investment Advisory Inc. purchased a new position in shares of Intra-Cellular Therapies in the fourth quarter worth $78,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Intra-Cellular Therapies by 16.3% during the 4th quarter. Parallel Advisors LLC now owns 1,564 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 219 shares during the last quarter. 92.33% of the stock is owned by hedge funds and other 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.