Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Receives $97.23 Consensus Price Target from Brokerages

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $97.23.

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and raised their target price for the company from $68.00 to $92.00 in a research note on Friday, September 6th. JPMorgan Chase & Co. boosted their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Morgan Stanley raised their price objective on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sharon Mates sold 51,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total value of $4,375,800.00. Following the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Intra-Cellular Therapies

Hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP boosted its position in Intra-Cellular Therapies by 3.5% in the third quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company’s stock worth $281,601,000 after purchasing an additional 130,351 shares during the last quarter. Avoro Capital Advisors LLC boosted its holdings in shares of Intra-Cellular Therapies by 21.2% in the second quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock worth $205,470,000 after buying an additional 525,000 shares during the last quarter. Bellevue Group AG boosted its holdings in shares of Intra-Cellular Therapies by 0.6% in the third quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company’s stock worth $181,873,000 after buying an additional 14,342 shares during the last quarter. State Street Corp grew its position in Intra-Cellular Therapies by 3.1% during the third quarter. State Street Corp now owns 1,858,915 shares of the biopharmaceutical company’s stock valued at $136,017,000 after buying an additional 56,664 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Intra-Cellular Therapies by 9.7% during the third quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company’s stock valued at $129,463,000 after buying an additional 155,655 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ:ITCI opened at $83.45 on Friday. The firm has a market capitalization of $8.85 billion, a P/E ratio of -95.92 and a beta of 0.95. The stock has a 50 day moving average price of $83.64 and a 200-day moving average price of $77.47. Intra-Cellular Therapies has a 52-week low of $62.78 and a 52-week high of $93.45.

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

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.