Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Raised to $100.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective raised by Needham & Company LLC from $94.00 to $100.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

ITCI has been the topic of several other reports. JPMorgan Chase & Co. raised their target price on Intra-Cellular Therapies from $75.00 to $78.00 and gave the stock an overweight rating in a report on Wednesday, June 12th. Royal Bank of Canada reaffirmed an outperform rating and set a $103.00 target price on shares of Intra-Cellular Therapies in a report on Tuesday, June 25th. Mizuho raised their target price on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a buy rating in a report on Friday, June 21st. TD Cowen raised their target price on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Finally, Bank of America raised their target price on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $94.83.

Intra-Cellular Therapies Stock Performance

Shares of ITCI stock opened at $77.27 on Monday. The stock’s 50-day simple moving average is $70.94 and its 200-day simple moving average is $69.76. The firm has a market capitalization of $8.16 billion, a PE ratio of -66.61 and a beta of 1.01. Intra-Cellular Therapies has a fifty-two week low of $45.50 and a fifty-two week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.15. The business had revenue of $144.90 million for the quarter, compared to analyst estimates of $141.41 million. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The company’s revenue was up 52.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.46) earnings per share. Sell-side analysts forecast that Intra-Cellular Therapies will post -0.53 earnings per share for the current year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, Director Nostrand Robert L. Van sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the transaction, the director now owns 9,690 shares in the company, valued at $735,567.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Nostrand Robert L. Van sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total value of $1,518,200.00. Following the transaction, the director now owns 9,690 shares in the company, valued at $735,567.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rory B. Riggs sold 4,462 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $75.57, for a total value of $337,193.34. Following the completion of the transaction, the director now owns 116,600 shares in the company, valued at approximately $8,811,462. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Intra-Cellular Therapies by 0.5% during the third quarter. Vanguard Group Inc. now owns 8,539,725 shares of the biopharmaceutical company’s stock worth $444,834,000 after buying an additional 43,689 shares in the last quarter. Raymond James Trust N.A. purchased a new position in Intra-Cellular Therapies during the fourth quarter worth approximately $224,000. Assenagon Asset Management S.A. lifted its position in Intra-Cellular Therapies by 56.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 763,974 shares of the biopharmaceutical company’s stock worth $54,716,000 after buying an additional 275,368 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Intra-Cellular Therapies by 351.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,133 shares of the biopharmaceutical company’s stock worth $797,000 after buying an additional 8,668 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its position in Intra-Cellular Therapies by 42.7% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 9,168 shares of the biopharmaceutical company’s stock worth $657,000 after buying an additional 2,743 shares in 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.