Piper Sandler Reaffirms “Neutral” Rating for Intra-Cellular Therapies (NASDAQ:ITCI)

Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “neutral” rating restated by Piper Sandler in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $132.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $107.00. Piper Sandler’s price objective indicates a potential upside of 4.17% from the company’s current price.

Several other analysts have also recently issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Needham & Company LLC reiterated a “hold” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a report on Monday. JPMorgan Chase & Co. raised their price target on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Morgan Stanley boosted their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Intra-Cellular Therapies presently has an average rating of “Moderate Buy” and a consensus target price of $100.31.

Intra-Cellular Therapies Trading Down 0.1 %

Shares of NASDAQ:ITCI opened at $126.71 on Tuesday. The firm has a market cap of $13.43 billion, a price-to-earnings ratio of -145.64 and a beta of 0.70. The stock’s 50-day moving average price is $87.89 and its two-hundred day moving average price is $80.00. Intra-Cellular Therapies has a 12-month low of $62.78 and a 12-month high of $128.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The company had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. During the same period in the prior year, the business posted ($0.25) earnings per share. Intra-Cellular Therapies’s revenue was up 39.0% on a year-over-year basis. As a group, research analysts forecast that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sharon Mates sold 51,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC bought a new position in shares of Intra-Cellular Therapies during the third quarter worth about $32,000. GAMMA Investing LLC lifted its holdings in Intra-Cellular Therapies by 46.3% during the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 240 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth approximately $74,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Intra-Cellular Therapies in the 3rd quarter valued at approximately $97,000. Finally, Quarry LP raised its position in shares of Intra-Cellular Therapies by 260.0% during the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after acquiring an additional 1,300 shares in 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.