Intra-Cellular Therapies’ (ITCI) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research report sent to investors on Wednesday morning, Benzinga reports. Cantor Fitzgerald currently has a $120.00 price objective on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on ITCI. Needham & Company LLC boosted their price target on shares of Intra-Cellular Therapies from $82.00 to $90.00 and gave the stock a buy rating in a research report on Monday. Royal Bank of Canada reiterated an outperform rating and issued a $86.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Bank of America boosted their target price on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a buy rating in a report on Wednesday, April 17th. Robert W. Baird boosted their target price on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an outperform rating in a report on Wednesday, April 17th. Finally, Mizuho boosted their target price on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a buy rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $90.17.

Intra-Cellular Therapies Stock Down 1.2 %

Shares of NASDAQ ITCI opened at $73.12 on Wednesday. The company’s 50-day simple moving average is $69.44 and its 200-day simple moving average is $64.58. Intra-Cellular Therapies has a 52-week low of $45.50 and a 52-week high of $84.89. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of -50.08 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The firm had revenue of $132.10 million for the quarter, compared to analyst estimates 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 in the previous year, the business posted ($0.45) earnings per share. Equities research analysts anticipate that Intra-Cellular Therapies will post -0.62 EPS for the current fiscal year.

Insider Activity

In other news, EVP Suresh K. Durgam sold 6,450 shares of Intra-Cellular Therapies stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $66.56, for a total transaction of $429,312.00. Following the sale, the executive vice president now owns 16,170 shares in the company, valued at $1,076,275.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of Intra-Cellular Therapies stock in a transaction that occurred 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 sale, the executive vice president now 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 is available through the SEC website. Also, CEO Sharon Mates sold 40,712 shares of Intra-Cellular Therapies stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $66.50, for a total value of $2,707,348.00. Following the completion of the sale, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $69,845,548.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,487 shares of company stock worth $11,364,950. 3.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Institutional investors have recently modified their holdings of the company. Avoro Capital Advisors LLC acquired a new position in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $161,543,000. Norges Bank acquired a new position in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $85,744,000. Avidity Partners Management LP acquired a new position in shares of Intra-Cellular Therapies during the 3rd quarter worth approximately $41,729,000. Polar Capital Holdings Plc raised its position in shares of Intra-Cellular Therapies by 150.0% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $52,090,000 after purchasing an additional 600,000 shares during the last quarter. Finally, Vanguard Group Inc. raised 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. Hedge funds and other institutional investors own 92.33% of the company’s stock.

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.