TD Cowen Raises Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $90.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective boosted by TD Cowen from $80.00 to $90.00 in a report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

ITCI has been the topic of a number of other reports. Canaccord Genuity Group decreased their price target on Intra-Cellular Therapies from $101.00 to $100.00 and set a buy rating on the stock in a research report on Friday, February 23rd. Bank of America increased their price objective on Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a buy rating in a research report on Wednesday. Robert W. Baird increased their price objective on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an outperform rating in a research report on Wednesday. The Goldman Sachs Group increased their price objective on Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a neutral rating in a research report on Wednesday. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $86.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intra-Cellular Therapies has a consensus rating of Moderate Buy and a consensus price target of $86.17.

Intra-Cellular Therapies Stock Performance

NASDAQ ITCI opened at $72.37 on Wednesday. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89. The stock’s 50 day simple moving average is $69.31 and its 200 day simple moving average is $63.87.

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. The business had revenue of $132.10 million for the quarter, compared to analyst estimates of $135.97 million. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. Intra-Cellular Therapies’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.45) EPS. As a group, equities research analysts forecast that Intra-Cellular Therapies will post -0.69 EPS for the current fiscal year.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 20,565 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $65.21, for a total value of $1,341,043.65. Following the transaction, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $68,490,649.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sharon Mates sold 20,565 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the sale, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at approximately $68,490,649.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joel S. Marcus sold 26,328 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $68.68, for a total value of $1,808,207.04. Following the sale, the director now directly owns 39,662 shares in the company, valued at approximately $2,723,986.16. The disclosure for this sale can be found here. Insiders have sold 168,487 shares of company stock worth $11,364,950 in the last three months. Insiders own 3.40% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Several hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP raised its stake in Intra-Cellular Therapies by 6.3% during the 1st quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock worth $266,748,000 after buying an additional 227,439 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Intra-Cellular Therapies by 14.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 16,651 shares of the biopharmaceutical company’s stock worth $1,152,000 after buying an additional 2,090 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in Intra-Cellular Therapies during the 4th quarter worth $26,000. HighPoint Advisor Group LLC acquired a new stake in Intra-Cellular Therapies during the 4th quarter worth $217,000. Finally, Vanguard Group Inc. raised its stake in shares of Intra-Cellular Therapies by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock valued at $651,334,000 after purchasing an additional 554,577 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.