JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Intra-Cellular Therapies (NASDAQ:ITCI) Stock

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target upped by stock analysts at JPMorgan Chase & Co. from $81.00 to $89.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 2.84% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. UBS Group dropped their price objective on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $68.00 to $92.00 in a report on Friday, September 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. The Goldman Sachs Group cut their target price on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Morgan Stanley raised their target price on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intra-Cellular Therapies currently has a consensus rating of “Moderate Buy” and an average price target of $97.23.

Intra-Cellular Therapies Stock Up 2.1 %

NASDAQ ITCI opened at $86.54 on Monday. The business’s fifty day simple moving average is $75.18 and its 200-day simple moving average is $73.21. The firm has a market cap of $9.17 billion, a PE ratio of -99.47 and a beta of 0.97. Intra-Cellular Therapies has a 52 week low of $50.87 and a 52 week high of $88.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The firm had revenue of $175.40 million for the quarter, compared to analysts’ expectations of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. Intra-Cellular Therapies’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same period last year, the firm earned ($0.25) earnings per share. Research analysts expect that Intra-Cellular Therapies will post -0.63 EPS for the current year.

Insider Buying and Selling

In other news, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at $77,962,764.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the completion of the sale, the executive vice president now owns 29,700 shares in the company, valued at $2,229,876. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 175,316 shares of company stock valued at $13,037,345 over the last quarter. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Headlands Technologies LLC acquired a new stake in Intra-Cellular Therapies during the 1st quarter valued at $32,000. Fidelis Capital Partners LLC purchased a new stake in Intra-Cellular Therapies during the 1st quarter worth about $53,000. Summit Securities Group LLC purchased a new stake in Intra-Cellular Therapies during the 2nd quarter worth about $56,000. Capital Performance Advisors LLP purchased a new position in Intra-Cellular Therapies in the 3rd quarter valued at about $74,000. Finally, CWM LLC lifted its holdings in Intra-Cellular Therapies by 83.9% in the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 626 shares in the last quarter. 92.33% of the stock is owned by hedge funds and other 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.