Intra-Cellular Therapies’ (ITCI) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Intra-Cellular Therapies (NASDAQ:ITCIGet Free Report)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a report released on Wednesday, Benzinga reports. They currently have a $86.00 price objective on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 28.99% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. TD Cowen assumed coverage on shares of Intra-Cellular Therapies in a research note on Monday, December 11th. They set an “outperform” rating and a $75.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $101.00 price target on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. Robert W. Baird assumed coverage on shares of Intra-Cellular Therapies in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $83.00 price target on the stock. Needham & Company LLC upped their price target on shares of Intra-Cellular Therapies from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Canaccord Genuity Group reduced their target price on shares of Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $81.42.

Get Our Latest Stock Analysis on ITCI

Intra-Cellular Therapies Stock Performance

ITCI stock opened at $66.67 on Wednesday. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $76.11. The company’s fifty day moving average price is $69.05 and its 200-day moving average price is $62.68. The company has a market capitalization of $6.45 billion, a PE ratio of -45.66 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCIGet Free Report) last released 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. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The firm had revenue of $132.10 million for the quarter, compared to the consensus estimate of $135.97 million. During the same quarter in the previous year, the firm earned ($0.45) earnings per share. The company’s quarterly revenue was up 50.3% compared to the same quarter last year. On average, research analysts predict that Intra-Cellular Therapies will post -0.65 EPS for the current fiscal year.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 20,565 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were 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 $68,490,649.89. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $66.56, for a total transaction of $429,312.00. Following the transaction, the executive vice president now directly owns 16,170 shares in the company, valued at approximately $1,076,275.20. The sale 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 stock in a transaction dated 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 owns 1,050,309 shares in the company, valued at $68,490,649.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 361,765 shares of company stock worth $24,201,987. Insiders own 3.40% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Several hedge funds have recently modified their holdings of the company. Kapitalo Investimentos Ltda purchased a new stake in shares of Intra-Cellular Therapies during the fourth quarter valued at about $26,000. HighPoint Advisor Group LLC purchased a new position in shares of Intra-Cellular Therapies in the 4th quarter valued at approximately $217,000. Vanguard Group Inc. raised its position 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 last quarter. Goldman Sachs Group Inc. raised its position in shares of Intra-Cellular Therapies by 52.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 578,615 shares of the biopharmaceutical company’s stock valued at $41,440,000 after purchasing an additional 199,503 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Intra-Cellular Therapies in the 4th quarter valued at approximately $546,000. 92.33% of the stock is owned by hedge funds and other institutional investors.

Intra-Cellular Therapies Company Profile

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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.

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Analyst Recommendations for Intra-Cellular Therapies (NASDAQ:ITCI)

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