Morgan Stanley Increases Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $95.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target hoisted by equities research analysts at Morgan Stanley from $92.00 to $95.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective points to a potential upside of 25.40% from the stock’s previous close.

A number of other equities analysts also recently commented on ITCI. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, August 7th. Royal Bank of Canada boosted their target price 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. Piper Sandler upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $68.00 to $92.00 in a report on Friday, September 6th. JPMorgan Chase & Co. boosted their target price on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Canaccord Genuity Group upped their price objective on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.62.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI opened at $75.76 on Friday. Intra-Cellular Therapies has a 1-year low of $45.50 and a 1-year high of $84.89. The company has a 50-day moving average of $74.35 and a 200 day moving average of $72.22. The firm has a market cap of $8.00 billion, a PE ratio of -65.31 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. The company had revenue of $161.40 million during the quarter, compared to analyst estimates of $157.74 million. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The firm’s revenue for the quarter was up 45.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.45) earnings per share. Sell-side analysts anticipate that Intra-Cellular Therapies will post -0.59 EPS for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In related news, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total value of $4,010,433.45. Following the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $80,970,388.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value 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 approximately $2,229,876. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 175,316 shares of company stock worth $13,037,345 over the last quarter. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Hedge funds have recently bought and sold shares of the stock. Kapitalo Investimentos Ltda purchased a new stake in Intra-Cellular Therapies in the 4th quarter worth approximately $26,000. Headlands Technologies LLC purchased a new stake in Intra-Cellular Therapies in the 1st quarter worth approximately $32,000. Fidelis Capital Partners LLC purchased a new position in shares of Intra-Cellular Therapies during the 1st quarter valued at approximately $53,000. Summit Securities Group LLC purchased a new position in shares of Intra-Cellular Therapies during the 2nd quarter valued at approximately $56,000. Finally, CWM LLC lifted its position in shares of Intra-Cellular Therapies by 83.9% during the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 626 shares in the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

About Intra-Cellular Therapies

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.