Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Receives $97.23 Consensus Price Target from Analysts

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $97.23.

A number of brokerages recently commented on ITCI. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Morgan Stanley increased their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, September 16th.

Intra-Cellular Therapies Price Performance

ITCI opened at $85.24 on Friday. The stock has a market capitalization of $9.04 billion, a P/E ratio of -97.98 and a beta of 0.95. The company’s 50 day simple moving average is $83.84 and its 200-day simple moving average is $77.58. Intra-Cellular Therapies has a one year low of $62.78 and a one year high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced 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 firm had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The firm’s quarterly revenue was up 39.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.25) earnings per share. As a group, analysts anticipate that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insider Activity

In other Intra-Cellular Therapies news, 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 sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. This trade represents a 4.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP raised its holdings in shares of Intra-Cellular Therapies by 3.5% in the third quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company’s stock valued at $281,601,000 after purchasing an additional 130,351 shares during the last quarter. Avoro Capital Advisors LLC increased its stake in Intra-Cellular Therapies by 21.2% in the 2nd quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock valued at $205,470,000 after buying an additional 525,000 shares during the last quarter. Bellevue Group AG lifted its position in Intra-Cellular Therapies by 0.6% during the 3rd quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company’s stock worth $181,873,000 after buying an additional 14,342 shares in the last quarter. State Street Corp lifted its position in Intra-Cellular Therapies by 3.1% during the 3rd quarter. State Street Corp now owns 1,858,915 shares of the biopharmaceutical company’s stock worth $136,017,000 after buying an additional 56,664 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Intra-Cellular Therapies by 9.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company’s stock worth $129,463,000 after buying an additional 155,655 shares during the last quarter. 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.