Intra-Cellular Therapies (NASDAQ:ITCI) Stock Rating Reaffirmed by Needham & Company LLC

Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report released on Tuesday, Benzinga reports. They presently have a $90.00 price target on the biopharmaceutical company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 26.74% from the company’s current price.

Other analysts have also issued research reports about the stock. Canaccord Genuity Group lifted their price objective on shares of Intra-Cellular Therapies from $100.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Mizuho raised their target price on Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. TD Cowen boosted their price target on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $120.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.17.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ:ITCI opened at $71.01 on Tuesday. Intra-Cellular Therapies has a 1 year low of $45.50 and a 1 year high of $84.89. The stock has a 50-day simple moving average of $69.15 and a 200-day simple moving average of $65.71. The stock has a market capitalization of $6.87 billion, a P/E ratio of -48.64 and a beta of 1.01.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share 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 net margin of 30.08% and a negative return on equity of 23.02%. The firm’s revenue was up 50.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.45) EPS. Analysts predict that Intra-Cellular Therapies will post -0.59 earnings per share for the current year.

Insider Buying and Selling

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 22,590 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 1,050,309 shares in the company, valued at approximately $73,301,065.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Intra-Cellular Therapies news, CFO Lawrence J. Hineline sold 10,121 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.96, for a total value of $667,581.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sharon Mates sold 22,590 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.79, for a total value of $1,576,556.10. Following the completion of the transaction, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $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 three months. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position 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 buying an additional 554,577 shares during the period. Wasatch Advisors LP grew its holdings in shares of Intra-Cellular Therapies by 6.3% during the 1st quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock valued at $266,748,000 after acquiring an additional 227,439 shares in the last quarter. Avoro Capital Advisors LLC acquired a new position in shares of Intra-Cellular Therapies in the fourth quarter worth $161,543,000. JPMorgan Chase & Co. raised its holdings in shares of Intra-Cellular Therapies by 4.4% during 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 in the last quarter. Finally, Wellington Management Group LLP boosted its position in Intra-Cellular Therapies by 6.7% during the third quarter. Wellington Management Group LLP now owns 1,815,954 shares of the biopharmaceutical company’s stock valued at $94,593,000 after purchasing an additional 114,370 shares during the last quarter. Institutional investors and hedge funds 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.