Intra-Cellular Therapies (NASDAQ:ITCI) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective upped by equities research analysts at JPMorgan Chase & Co. from $81.00 to $89.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 0.27% from the company’s previous close.

ITCI has been the topic of several other reports. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, October 30th. Piper Sandler upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $68.00 to $92.00 in a report on Friday, September 6th. Royal Bank of Canada boosted their price target on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Finally, UBS Group lowered their price target on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intra-Cellular Therapies presently has a consensus rating of “Moderate Buy” and an average target price of $97.23.

Intra-Cellular Therapies Stock Performance

NASDAQ ITCI opened at $89.24 on Monday. Intra-Cellular Therapies has a twelve month low of $52.88 and a twelve month high of $89.44. The stock has a market cap of $9.46 billion, a price-to-earnings ratio of -102.57 and a beta of 0.97. The firm’s 50 day moving average price is $75.72 and its two-hundred day moving average price is $73.42.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The company had revenue of $175.40 million for the quarter, compared to analysts’ expectations of $172.30 million. During the same quarter in the prior year, the firm earned ($0.25) earnings per share. The company’s revenue was up 39.0% on a year-over-year basis. On average, research analysts forecast that Intra-Cellular Therapies will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling

In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the completion of the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at $2,229,876. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 34,396 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 175,316 shares of company stock worth $13,037,345. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new position in shares of Intra-Cellular Therapies during the first quarter valued at about $32,000. Fidelis Capital Partners LLC acquired a new position in shares of Intra-Cellular Therapies during the first quarter valued at about $53,000. Summit Securities Group LLC acquired a new position in shares of Intra-Cellular Therapies during the second quarter valued at about $56,000. Capital Performance Advisors LLP acquired a new position in shares of Intra-Cellular Therapies during the third quarter valued at about $74,000. Finally, CWM LLC raised its position in shares of Intra-Cellular Therapies by 83.9% during the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 626 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.