Intra-Cellular Therapies’ (ITCI) Buy Rating Reaffirmed at Needham & Company LLC

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

Several other analysts have also recently issued reports on the company. Bank of America upped their price objective on Intra-Cellular Therapies from $74.00 to $82.00 and gave the company a buy rating in a research note on Tuesday, January 2nd. Cantor Fitzgerald reaffirmed an overweight rating and issued a $101.00 price objective on shares of Intra-Cellular Therapies in a report on Friday, February 23rd. Canaccord Genuity Group dropped 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 report on Friday, February 23rd. Robert W. Baird initiated coverage on shares of Intra-Cellular Therapies in a report on Wednesday, January 3rd. They issued an outperform rating and a $83.00 price target for the company. Finally, Mizuho increased their price objective on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the stock a buy rating in a research note on Friday, February 16th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $86.17.

Intra-Cellular Therapies Trading Up 0.5 %

Intra-Cellular Therapies stock opened at $72.37 on Tuesday. Intra-Cellular Therapies has a 52 week low of $45.50 and a 52 week high of $84.89. The stock has a market cap of $7.01 billion, a P/E ratio of -49.57 and a beta of 1.02. The stock has a 50 day moving average of $69.31 and a 200-day moving average of $63.87.

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, beating analysts’ consensus estimates of ($0.44) by $0.14. The firm had revenue of $132.10 million for 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 firm’s revenue was up 50.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.45) EPS. As a group, equities analysts predict that Intra-Cellular Therapies will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In related news, EVP Suresh K. Durgam sold 6,450 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value of $429,312.00. Following the completion of the sale, the executive vice president now owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sharon Mates sold 20,565 shares of Intra-Cellular Therapies 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 directly owns 1,050,309 shares of the company’s stock, valued at $68,490,649.89. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Suresh K. Durgam sold 6,450 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The disclosure for this sale can be found here. Insiders have sold a total of 168,487 shares of company stock worth $11,364,950 in the last three months. 3.40% of the stock is owned by company insiders.

Institutional Trading of Intra-Cellular Therapies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Xponance Inc. grew its position in Intra-Cellular Therapies by 3.0% in the fourth quarter. Xponance Inc. now owns 5,676 shares of the biopharmaceutical company’s stock worth $407,000 after buying an additional 163 shares during the last quarter. Regal Investment Advisors LLC boosted its stake in shares of Intra-Cellular Therapies by 1.4% during the 3rd quarter. Regal Investment Advisors LLC now owns 13,610 shares of the biopharmaceutical company’s stock worth $709,000 after acquiring an additional 186 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Intra-Cellular Therapies by 0.8% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 26,796 shares of the biopharmaceutical company’s stock worth $1,396,000 after acquiring an additional 200 shares during the last quarter. Bailard Inc. raised its position in shares of Intra-Cellular Therapies by 1.2% during the fourth quarter. Bailard Inc. now owns 17,080 shares of the biopharmaceutical company’s stock worth $1,223,000 after purchasing an additional 200 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in shares of Intra-Cellular Therapies by 13.8% during the third quarter. Global Retirement Partners LLC now owns 1,753 shares of the biopharmaceutical company’s stock valued at $89,000 after purchasing an additional 213 shares during the last quarter. 92.33% of the stock is currently owned by institutional investors.

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.