Intra-Cellular Therapies (NASDAQ:ITCI) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research report report published on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $82.00 target price on the biopharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the company. Canaccord Genuity Group reduced their price target on Intra-Cellular Therapies from $101.00 to $100.00 and set a buy rating for the company in a research report on Friday, February 23rd. Cantor Fitzgerald reissued an overweight rating and issued a $101.00 price objective on shares of Intra-Cellular Therapies in a research report on Friday, February 23rd. Royal Bank of Canada reaffirmed an outperform rating and issued a $86.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Mizuho boosted their price target on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the stock a buy rating in a research report on Friday, February 16th. Finally, Robert W. Baird assumed coverage on Intra-Cellular Therapies in a report on Wednesday, January 3rd. They issued an outperform rating and a $83.00 price objective for the company. Two 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 stock presently has an average rating of Moderate Buy and a consensus price target of $86.17.

Intra-Cellular Therapies Stock Up 0.5 %

Shares of ITCI stock opened at $72.37 on Tuesday. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of -49.57 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 fifty day moving average of $69.31 and a 200-day moving average of $63.87.

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

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, EVP Michael Halstead sold 7,907 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $69.53, for a total transaction of $549,773.71. Following the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at $2,065,041. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Intra-Cellular Therapies news, EVP Michael Halstead sold 7,907 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.53, for a total value of $549,773.71. Following the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at $2,065,041. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sharon Mates sold 22,590 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the sale, 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. In the last ninety days, insiders sold 168,487 shares of company stock worth $11,364,950. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of institutional investors have recently made changes to their positions in ITCI. Wasatch Advisors LP boosted its stake in Intra-Cellular Therapies by 6.3% in the 1st quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock valued at $266,748,000 after purchasing an additional 227,439 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in shares of Intra-Cellular Therapies by 14.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 16,651 shares of the biopharmaceutical company’s stock valued at $1,152,000 after acquiring an additional 2,090 shares during the period. Kapitalo Investimentos Ltda bought a new stake in shares of Intra-Cellular Therapies in the fourth quarter valued at about $26,000. HighPoint Advisor Group LLC acquired a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at about $217,000. Finally, Vanguard Group Inc. increased its position in Intra-Cellular Therapies by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock worth $651,334,000 after acquiring an additional 554,577 shares during the period. 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.