Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Increased to $90.00 by Analysts at Needham & Company LLC

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price lifted by Needham & Company LLC from $82.00 to $90.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other analysts also recently commented on the stock. TD Cowen boosted their target price on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Robert W. Baird upped their price objective on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an outperform rating in a report on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an overweight rating and set a $101.00 price objective on shares of Intra-Cellular Therapies in a report on Friday, February 23rd. Mizuho upped their price objective on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the stock a buy rating in a report on Monday. Finally, The Goldman Sachs Group upped their price objective on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a neutral rating in a report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $88.00.

Intra-Cellular Therapies Stock Up 3.0 %

ITCI stock opened at $74.54 on Monday. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of -51.05 and a beta of 1.02. Intra-Cellular Therapies has a 12 month low of $45.50 and a 12 month high of $84.89. The firm has a 50 day moving average of $69.34 and a two-hundred day moving average of $64.36.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.14. The company had revenue of $132.10 million during the quarter, compared to the consensus estimate of $135.97 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The company’s revenue for the quarter was up 50.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.45) earnings per share. On average, research analysts expect that Intra-Cellular Therapies will post -0.67 EPS for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 22,590 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the completion of the transaction, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $73,301,065.11. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Lawrence J. Hineline sold 10,121 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $65.96, for a total value of $667,581.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sharon Mates sold 22,590 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the completion of the transaction, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at approximately $73,301,065.11. The disclosure for this sale can be found here. Insiders sold a total of 168,487 shares of company stock worth $11,364,950 in the last ninety days. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds have recently made changes to their positions in the business. Kapitalo Investimentos Ltda acquired a new position in shares of Intra-Cellular Therapies in the 4th quarter valued at $26,000. Signaturefd LLC increased its position in shares of Intra-Cellular Therapies by 85.7% during the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 239 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Intra-Cellular Therapies during the 3rd quarter worth about $45,000. Cape Investment Advisory Inc. acquired a new stake in shares of Intra-Cellular Therapies during the 4th quarter worth about $78,000. Finally, CI Investments Inc. increased its position in shares of Intra-Cellular Therapies by 1,191.6% during the 3rd quarter. CI Investments Inc. now owns 1,692 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 1,561 shares in the last quarter. 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.