Intra-Cellular Therapies (NASDAQ:ITCI) PT Raised to $96.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective hoisted by equities research analysts at Mizuho from $82.00 to $96.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Mizuho’s target price suggests a potential upside of 29.71% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC reissued a “buy” rating and set a $82.00 target price on shares of Intra-Cellular Therapies in a research note on Tuesday, April 16th. The Goldman Sachs Group lifted their target price on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. TD Cowen lifted their target price on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Finally, Bank of America lifted their target price on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Two equities 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.58.

Intra-Cellular Therapies Stock Performance

Intra-Cellular Therapies stock opened at $74.01 on Monday. The company has a 50 day moving average price of $69.41 and a 200 day moving average price of $64.52. Intra-Cellular Therapies has a 52 week low of $45.50 and a 52 week high of $84.89. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of -50.69 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data 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 firm had revenue of $132.10 million during the quarter, compared to analyst estimates 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 was up 50.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.45) EPS. Equities analysts forecast that Intra-Cellular Therapies will post -0.67 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sharon Mates sold 20,565 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the transaction, the chief executive officer now owns 1,050,309 shares in the company, valued at approximately $68,490,649.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intra-Cellular Therapies news, Director Joel S. Marcus sold 26,328 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the completion of the transaction, the director now owns 39,662 shares of the company’s stock, valued at approximately $2,723,986.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sharon Mates sold 20,565 shares of the business’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 transaction, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at approximately $68,490,649.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,487 shares of company stock worth $11,364,950. 3.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Kapitalo Investimentos Ltda acquired a new position in Intra-Cellular Therapies during the 4th quarter worth $26,000. Signaturefd LLC lifted its position in 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 acquiring an additional 239 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Intra-Cellular Therapies during the 3rd quarter worth $45,000. Cape Investment Advisory Inc. acquired a new position in Intra-Cellular Therapies during the 4th quarter worth $78,000. Finally, Parallel Advisors LLC lifted its position in Intra-Cellular Therapies by 16.3% during the 4th quarter. Parallel Advisors LLC now owns 1,564 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 219 shares during the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

About Intra-Cellular Therapies

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.