Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Raised to $130.00 at Cantor Fitzgerald

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price boosted by stock analysts at Cantor Fitzgerald from $120.00 to $130.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 77.11% from the company’s current price.

Other research analysts have also issued research reports about the stock. The Goldman Sachs Group decreased their price target on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday. TD Cowen boosted their target price on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. UBS Group reduced their target price on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Thursday. Bank of America lifted their price target on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Intra-Cellular Therapies from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, June 12th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $96.45.

Intra-Cellular Therapies Price Performance

Shares of Intra-Cellular Therapies stock traded down $0.23 during trading on Thursday, hitting $73.40. The stock had a trading volume of 411,955 shares, compared to its average volume of 1,006,069. The business has a fifty day moving average of $73.37 and a two-hundred day moving average of $70.51. Intra-Cellular Therapies has a fifty-two week low of $45.50 and a fifty-two week high of $84.89. The firm has a market cap of $7.75 billion, a P/E ratio of -63.41 and a beta of 1.01.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The company had revenue of $161.40 million during the quarter, compared to the consensus estimate of $157.74 million. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. Intra-Cellular Therapies’s revenue was up 45.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.45) EPS. As a group, research analysts forecast that Intra-Cellular Therapies will post -0.54 earnings per share for the current year.

Insider Transactions at Intra-Cellular Therapies

In related news, Director Rory B. Riggs sold 4,462 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $75.57, for a total transaction of $337,193.34. Following the completion of the transaction, the director now directly owns 116,600 shares in the company, valued at approximately $8,811,462. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Intra-Cellular Therapies news, Director Nostrand Robert L. Van sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total value of $1,518,200.00. Following the completion of the sale, the director now owns 9,690 shares in the company, valued at approximately $735,567.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rory B. Riggs sold 4,462 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $75.57, for a total value of $337,193.34. Following the sale, the director now owns 116,600 shares in the company, valued at $8,811,462. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Intra-Cellular Therapies

Several institutional investors have recently made changes to their positions in the business. Perceptive Advisors LLC bought a new position in Intra-Cellular Therapies during the fourth quarter worth about $7,735,000. Quantum Private Wealth LLC lifted its position in shares of Intra-Cellular Therapies by 64.7% during the 4th quarter. Quantum Private Wealth LLC now owns 23,705 shares of the biopharmaceutical company’s stock worth $1,698,000 after buying an additional 9,308 shares during the period. Schroder Investment Management Group boosted its stake in Intra-Cellular Therapies by 36.7% in the 4th quarter. Schroder Investment Management Group now owns 779,823 shares of the biopharmaceutical company’s stock valued at $55,851,000 after buying an additional 209,331 shares in the last quarter. Clearbridge Investments LLC grew its position in Intra-Cellular Therapies by 12.3% in the first quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock valued at $120,723,000 after acquiring an additional 191,416 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Intra-Cellular Therapies in the first quarter valued at $18,379,000. 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.