Intra-Cellular Therapies (NASDAQ:ITCI) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research note released on Tuesday, Benzinga reports. The brokerage currently has a $103.00 price objective on the biopharmaceutical company’s stock.

A number of other research analysts also recently issued reports on ITCI. Canaccord Genuity Group upped their price objective on Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a buy rating in a research note on Thursday, June 20th. Bank of America upped their price objective on Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a buy rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. upped their price objective on Intra-Cellular Therapies from $75.00 to $78.00 and gave the company an overweight rating in a research note on Wednesday, June 12th. Mizuho upped their price objective on Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a buy rating in a research note on Friday, June 21st. Finally, TD Cowen upped their price objective on Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $94.33.

Intra-Cellular Therapies Trading Down 4.2 %

NASDAQ ITCI opened at $72.42 on Tuesday. The firm has a market capitalization of $7.65 billion, a P/E ratio of -62.43 and a beta of 0.98. The business has a fifty day simple moving average of $69.60 and a 200 day simple moving average of $68.93. Intra-Cellular Therapies has a 12 month low of $45.50 and a 12 month high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.15. The business had revenue of $144.90 million during the quarter, compared to analyst estimates of $141.41 million. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. Intra-Cellular Therapies’s quarterly revenue was up 52.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.46) EPS. As a group, sell-side analysts predict that Intra-Cellular Therapies will post -0.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Nostrand Robert L. Van sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total value of $1,518,200.00. Following the completion of the transaction, the director now owns 9,690 shares of the company’s stock, valued at approximately $735,567.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Nostrand Robert L. Van sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total value of $1,518,200.00. Following the completion of the transaction, the director now owns 9,690 shares of the company’s stock, valued at approximately $735,567.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rory B. Riggs sold 4,462 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the completion of the transaction, the director now directly owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITCI. Kapitalo Investimentos Ltda purchased a new position in Intra-Cellular Therapies during the fourth quarter valued at $26,000. Headlands Technologies LLC purchased a new position in Intra-Cellular Therapies during the first quarter valued at $32,000. Signaturefd LLC lifted its position in Intra-Cellular Therapies by 85.7% during the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 239 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Intra-Cellular Therapies during the third quarter valued at $45,000. Finally, Fidelis Capital Partners LLC purchased a new position in Intra-Cellular Therapies during the first quarter valued at $53,000. Institutional investors own 92.33% of the company’s stock.

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.