Intra-Cellular Therapies’ (ITCI) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report published on Tuesday morning, Benzinga reports. They currently have a $90.00 target price on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on the stock. Bank of America boosted their target price on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. 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 report on Wednesday, April 17th. Royal Bank of Canada restated an outperform rating and set a $86.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Cantor Fitzgerald reiterated an overweight rating and issued a $120.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, April 24th. Finally, Canaccord Genuity Group raised their target price on shares of Intra-Cellular Therapies from $100.00 to $107.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $90.17.

Intra-Cellular Therapies Trading Up 0.3 %

NASDAQ:ITCI opened at $71.21 on Tuesday. The stock has a market capitalization of $6.89 billion, a P/E ratio of -48.77 and a beta of 1.01. Intra-Cellular Therapies has a 1 year low of $45.50 and a 1 year high of $84.89. The firm has a 50 day moving average of $69.11 and a 200-day moving average of $65.85.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping 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 company had revenue of $132.10 million for the quarter, compared to analyst estimates of $135.97 million. During the same quarter in the previous year, the firm earned ($0.45) earnings per share. The business’s revenue was up 50.3% on a year-over-year basis. As a group, analysts forecast that Intra-Cellular Therapies will post -0.59 EPS for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, EVP Michael Halstead sold 7,907 shares of Intra-Cellular Therapies stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.53, for a total transaction of $549,773.71. Following the transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,065,041. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 20,565 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $65.21, for a total value of $1,341,043.65. Following the transaction, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $68,490,649.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Halstead sold 7,907 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $69.53, for a total transaction of $549,773.71. Following the sale, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at approximately $2,065,041. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,487 shares of company stock valued at $11,364,950. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of large investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in shares of Intra-Cellular Therapies during the first quarter worth about $32,000. Sei Investments Co. grew its stake in shares of Intra-Cellular Therapies by 9.8% during the 1st quarter. Sei Investments Co. now owns 128,311 shares of the biopharmaceutical company’s stock worth $8,880,000 after acquiring an additional 11,488 shares in the last quarter. Quantum Private Wealth LLC raised its holdings in shares of Intra-Cellular Therapies by 56.9% in the first quarter. Quantum Private Wealth LLC now owns 37,199 shares of the biopharmaceutical company’s stock valued at $2,574,000 after purchasing an additional 13,494 shares during the last quarter. Swiss National Bank lifted its position in shares of Intra-Cellular Therapies by 0.3% in the first quarter. Swiss National Bank now owns 170,900 shares of the biopharmaceutical company’s stock worth $11,826,000 after purchasing an additional 500 shares in the last quarter. Finally, ClariVest Asset Management LLC acquired a new position in Intra-Cellular Therapies during the first quarter worth $344,000. Institutional investors own 92.33% of the company’s stock.

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.