Analysts Set Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Target Price at $97.23

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has earned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $97.23.

ITCI has been the topic of a number of analyst reports. Royal Bank of Canada increased their price target on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. The Goldman Sachs Group dropped their price objective on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a report on Monday, September 16th. UBS Group dropped their price objective on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Morgan Stanley raised their price target on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th.

Intra-Cellular Therapies Trading Up 0.2 %

ITCI opened at $86.59 on Monday. The stock’s 50-day moving average price is $79.67 and its 200 day moving average price is $75.13. Intra-Cellular Therapies has a 12-month low of $58.78 and a 12-month high of $93.45. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of -99.34 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted 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). The firm had revenue of $175.40 million for the quarter, compared to analyst estimates of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. Intra-Cellular Therapies’s revenue was up 39.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.25) EPS. On average, research analysts forecast that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Insider Activity

In related news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sharon Mates sold 34,396 shares of Intra-Cellular Therapies stock in a transaction on Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Oak Ridge Investments LLC purchased a new position in Intra-Cellular Therapies during the second quarter worth $811,000. SG Americas Securities LLC grew its position in shares of Intra-Cellular Therapies by 962.7% in the second quarter. SG Americas Securities LLC now owns 48,778 shares of the biopharmaceutical company’s stock valued at $3,341,000 after purchasing an additional 44,188 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Intra-Cellular Therapies by 31.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock valued at $33,258,000 after purchasing an additional 109,892 shares during the period. TimesSquare Capital Management LLC grew its position in shares of Intra-Cellular Therapies by 6.5% in the third quarter. TimesSquare Capital Management LLC now owns 438,083 shares of the biopharmaceutical company’s stock valued at $32,055,000 after purchasing an additional 26,600 shares during the period. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Intra-Cellular Therapies in the second quarter valued at $14,755,000. 92.33% of the stock is owned by institutional investors and hedge funds.

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.