Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Raised to $96.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price upped by Mizuho from $82.00 to $96.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Mizuho’s price objective points to a potential upside of 29.71% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Robert W. Baird increased their price target on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Canaccord Genuity Group lowered their price objective on Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $86.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. The Goldman Sachs Group lifted their price target on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Finally, Bank of America boosted their target price on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.58.

Intra-Cellular Therapies Trading Down 0.7 %

Shares of Intra-Cellular Therapies stock opened at $74.01 on Monday. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89. The company has a market cap of $7.16 billion, a price-to-earnings ratio of -50.69 and a beta of 1.02. The company’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 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 the consensus estimate of $135.97 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. Intra-Cellular Therapies’s quarterly revenue was up 50.3% on a year-over-year basis. During the same period last year, the firm posted ($0.45) earnings per share. On average, sell-side analysts predict that Intra-Cellular Therapies will post -0.67 earnings per share for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In related news, EVP Suresh K. Durgam sold 6,450 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total transaction of $429,312.00. Following the completion of the transaction, the executive vice president now directly owns 16,170 shares in the company, valued at approximately $1,076,275.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Sharon Mates sold 22,590 shares of the company’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 transaction of $1,576,556.10. Following the sale, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at approximately $73,301,065.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Suresh K. Durgam sold 6,450 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value of $429,312.00. Following the transaction, the executive vice president now owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The disclosure for this sale can be found here. Insiders sold a total of 168,487 shares of company stock worth $11,364,950 in the last three months. 3.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Kapitalo Investimentos Ltda bought a new position in shares of Intra-Cellular Therapies during the 4th quarter valued at approximately $26,000. Signaturefd LLC increased its stake 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 purchasing an additional 239 shares during the period. Neo Ivy Capital Management purchased a new stake in Intra-Cellular Therapies in the third quarter worth $45,000. Cape Investment Advisory Inc. purchased a new stake in Intra-Cellular Therapies in the fourth quarter worth $78,000. Finally, Parallel Advisors LLC increased its stake in shares of Intra-Cellular Therapies by 16.3% during the fourth quarter. Parallel Advisors LLC now owns 1,564 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 219 shares during the period. 92.33% of the stock is currently owned by institutional investors.

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.