Analysts Set Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Price Target at $96.58

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has received an average rating of “Moderate Buy” from the twelve analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $96.58.

Several research firms have commented on ITCI. UBS Group cut their price target on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, August 7th. Mizuho increased their price target on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Piper Sandler upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Finally, The Goldman Sachs Group reduced their target price on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, August 8th.

Intra-Cellular Therapies Trading Up 0.2 %

Shares of Intra-Cellular Therapies stock opened at $75.38 on Wednesday. The company has a fifty day simple moving average of $75.66 and a 200-day simple moving average of $71.25. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of -64.98 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.03. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The company had revenue of $161.40 million for the quarter, compared to analyst estimates of $157.74 million. During the same quarter last year, the company posted ($0.45) earnings per share. The business’s quarterly revenue was up 45.7% compared to the same quarter last year. On average, analysts forecast that Intra-Cellular Therapies will post -0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Nostrand Robert L. Van sold 20,000 shares of the firm’s 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 sale, the director now directly owns 9,690 shares of the company’s stock, valued at approximately $735,567.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Nostrand Robert L. Van sold 20,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the transaction, the director now directly owns 9,690 shares of the company’s stock, valued at approximately $735,567.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rory B. Riggs sold 4,462 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $75.57, for a total transaction of $337,193.34. Following the completion of the sale, the director now owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 199,778 shares of company stock worth $14,892,738. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Institutional investors have recently modified their holdings of the company. EFG Asset Management North America Corp. raised its holdings in Intra-Cellular Therapies by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 34,452 shares of the biopharmaceutical company’s stock worth $2,357,000 after purchasing an additional 163 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Intra-Cellular Therapies by 16.3% in the 4th quarter. Parallel Advisors LLC now owns 1,564 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 219 shares in the last quarter. Assetmark Inc. grew its stake in Intra-Cellular Therapies by 17.8% in the 4th quarter. Assetmark Inc. now owns 2,236 shares of the biopharmaceutical company’s stock valued at $160,000 after acquiring an additional 338 shares during the last quarter. 1492 Capital Management LLC increased its holdings in Intra-Cellular Therapies by 1.0% during the 4th quarter. 1492 Capital Management LLC now owns 35,293 shares of the biopharmaceutical company’s stock valued at $2,528,000 after acquiring an additional 361 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in Intra-Cellular Therapies during the fourth quarter worth about $26,000. Hedge funds and other 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.