Intra-Cellular Therapies (NASDAQ:ITCI) Given New $77.00 Price Target at The Goldman Sachs Group

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target upped by The Goldman Sachs Group from $67.00 to $77.00 in a research note issued to investors on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the biopharmaceutical company’s stock.

Other equities analysts have also issued reports about the stock. Bank of America raised their price target on shares of Intra-Cellular Therapies from $74.00 to $82.00 and gave the stock a buy rating in a research report on Tuesday, January 2nd. Royal Bank of Canada reissued an outperform rating and issued a $86.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Robert W. Baird assumed coverage on shares of Intra-Cellular Therapies in a report on Wednesday, January 3rd. They issued an outperform rating and a $83.00 target price on the stock. Mizuho raised their target price on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a buy rating in a report on Friday, February 16th. Finally, Cantor Fitzgerald reissued an overweight rating and issued a $101.00 target price on shares of Intra-Cellular Therapies in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $86.17.

Intra-Cellular Therapies Stock Performance

NASDAQ ITCI opened at $76.69 on Wednesday. The firm has a 50-day moving average of $69.14 and a 200-day moving average of $63.73. Intra-Cellular Therapies has a 52-week low of $45.50 and a 52-week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The business had revenue of $132.10 million for the quarter, compared to analyst estimates of $135.97 million. During the same period last year, the firm earned ($0.45) earnings per share. Intra-Cellular Therapies’s revenue for the quarter was up 50.3% compared to the same quarter last year. As a group, sell-side analysts expect that Intra-Cellular Therapies will post -0.69 earnings per share for the current year.

Insider Activity

In other news, EVP Suresh K. Durgam sold 6,450 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value of $429,312.00. Following the sale, the executive vice president now directly owns 16,170 shares in the company, valued at approximately $1,076,275.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Suresh K. Durgam sold 6,450 shares of Intra-Cellular Therapies stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $66.56, for a total transaction of $429,312.00. Following the sale, the executive vice president now directly owns 16,170 shares in the company, valued at approximately $1,076,275.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sharon Mates sold 40,712 shares of Intra-Cellular Therapies stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.50, for a total transaction of $2,707,348.00. Following the sale, the chief executive officer now owns 1,050,309 shares in the company, valued at $69,845,548.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,487 shares of company stock worth $11,364,950. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Intra-Cellular Therapies by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock worth $651,334,000 after buying an additional 554,577 shares during the period. BlackRock Inc. lifted its position in shares of Intra-Cellular Therapies by 13.1% in the 1st quarter. BlackRock Inc. now owns 6,470,417 shares of the biopharmaceutical company’s stock worth $395,924,000 after purchasing an additional 748,651 shares during the period. Wellington Management Group LLP acquired a new position in shares of Intra-Cellular Therapies in the 1st quarter worth approximately $248,502,000. Avoro Capital Advisors LLC acquired a new position in shares of Intra-Cellular Therapies in the 4th quarter worth approximately $161,543,000. Finally, State Street Corp lifted its position in shares of Intra-Cellular Therapies by 3.9% in the 2nd quarter. State Street Corp now owns 2,105,705 shares of the biopharmaceutical company’s stock worth $133,333,000 after purchasing an additional 79,477 shares during the period. 92.33% of the stock is currently owned by institutional investors and hedge funds.

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.