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

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective upped by Mizuho from $82.00 to $96.00 in a research note issued to investors on Monday, Benzinga reports. Mizuho currently has a buy rating on the biopharmaceutical company’s stock.

Several other analysts have also issued reports on ITCI. The Goldman Sachs Group raised their price target on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a neutral rating in a research report on Wednesday, April 17th. Robert W. Baird raised their price target on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an outperform rating in a research report on Wednesday, April 17th. Needham & Company LLC restated a buy rating and issued a $82.00 price target on shares of Intra-Cellular Therapies in a research report on Tuesday, April 16th. Canaccord Genuity Group decreased their price target on shares of Intra-Cellular Therapies from $101.00 to $100.00 and set a buy rating on the stock in a research report on Friday, February 23rd. Finally, Bank of America raised their price target on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Intra-Cellular Therapies has a consensus rating of Moderate Buy and a consensus price target of $90.17.

Intra-Cellular Therapies Trading Down 1.2 %

NASDAQ:ITCI opened at $73.12 on Monday. Intra-Cellular Therapies has a 1 year low of $45.50 and a 1 year high of $84.89. The firm’s fifty day simple moving average is $69.44 and its 200 day simple moving average is $64.58. The firm has a market capitalization of $7.08 billion, a PE ratio of -50.08 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. The business had revenue of $132.10 million for 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%. Intra-Cellular Therapies’s revenue was up 50.3% compared to the same quarter last year. During the same period last year, the business posted ($0.45) EPS. As a group, analysts anticipate that Intra-Cellular Therapies will post -0.62 EPS for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In related news, CFO Lawrence J. Hineline sold 13,337 shares of Intra-Cellular Therapies stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.43, for a total transaction of $925,987.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Lawrence J. Hineline sold 13,337 shares of Intra-Cellular Therapies stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.43, for a total transaction of $925,987.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sharon Mates sold 22,590 shares of Intra-Cellular Therapies stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the transaction, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at $73,301,065.11. The disclosure for this sale can be found here. Insiders sold 168,487 shares of company stock valued at $11,364,950 in the last ninety days. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

Several institutional investors have recently added to or reduced their stakes in ITCI. Vanguard Group Inc. raised its stake in shares of Intra-Cellular Therapies by 6.5% in 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 last quarter. Wasatch Advisors LP raised its stake in shares of Intra-Cellular Therapies by 6.3% in the first quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock worth $266,748,000 after acquiring an additional 227,439 shares during the last quarter. Avoro Capital Advisors LLC bought a new position in shares of Intra-Cellular Therapies in the fourth quarter worth about $161,543,000. JPMorgan Chase & Co. raised its stake in shares of Intra-Cellular Therapies by 4.4% in the third quarter. JPMorgan Chase & Co. now owns 2,063,802 shares of the biopharmaceutical company’s stock worth $107,503,000 after acquiring an additional 86,388 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Intra-Cellular Therapies by 6.7% in the third quarter. Wellington Management Group LLP now owns 1,815,954 shares of the biopharmaceutical company’s stock worth $94,593,000 after acquiring an additional 114,370 shares during the last quarter. 92.33% of the stock is owned by institutional investors.

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.