Intra-Cellular Therapies’ (ITCI) Neutral Rating Reaffirmed at Piper Sandler

Piper Sandler restated their neutral rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report released on Tuesday morning,Benzinga reports. They currently have a $132.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $107.00.

Several other research firms have also recently weighed in on ITCI. JPMorgan Chase & Co. upped their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada upped their price target on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Needham & Company LLC reissued a “hold” rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday. Morgan Stanley upped their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Intra-Cellular Therapies has an average rating of “Moderate Buy” and a consensus target price of $100.31.

Intra-Cellular Therapies Stock Down 0.4 %

Shares of NASDAQ:ITCI opened at $126.26 on Tuesday. Intra-Cellular Therapies has a 12-month low of $62.78 and a 12-month high of $128.00. The company’s 50 day moving average price is $88.60 and its two-hundred day moving average price is $80.33. The firm has a market cap of $13.39 billion, a PE ratio of -145.12 and a beta of 0.70.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data 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 company had revenue of $175.40 million for the quarter, compared to the consensus estimate 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 was up 39.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.25) EPS. On average, research analysts expect that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insider Activity

In related news, President Michael Halstead sold 22,869 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Intra-Cellular Therapies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITCI. True Wealth Design LLC acquired a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth approximately $32,000. GAMMA Investing LLC raised its stake in Intra-Cellular Therapies by 46.3% during the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 240 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Intra-Cellular Therapies in the third quarter valued at $74,000. Wilmington Savings Fund Society FSB bought a new stake in Intra-Cellular Therapies during the third quarter valued at $97,000. Finally, Quarry LP grew its holdings in Intra-Cellular Therapies by 260.0% during the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock worth $132,000 after acquiring an additional 1,300 shares during the period. Institutional investors and hedge funds 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.