Cantor Fitzgerald Upgrades Intra-Cellular Therapies (NASDAQ:ITCI) to “Strong-Buy”

Cantor Fitzgerald upgraded shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a hold rating to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

ITCI has been the topic of several other reports. Morgan Stanley raised their target price on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Royal Bank of Canada lifted their price target on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. boosted their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Needham & Company LLC reissued a “hold” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Monday. Finally, Baird R W lowered Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $100.31.

Intra-Cellular Therapies Price Performance

Shares of NASDAQ ITCI opened at $126.26 on Tuesday. The business has a 50-day moving average of $88.60 and a 200-day moving average of $80.33. The stock has a market capitalization of $13.39 billion, a price-to-earnings ratio of -145.12 and a beta of 0.70. Intra-Cellular Therapies has a fifty-two week low of $62.78 and a fifty-two week high of $128.00.

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

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $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 owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Barclays PLC grew its stake in shares of Intra-Cellular Therapies by 282.0% in the third quarter. Barclays PLC now owns 34,453 shares of the biopharmaceutical company’s stock worth $2,521,000 after acquiring an additional 25,435 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Intra-Cellular Therapies by 31.9% during the 3rd 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 acquiring an additional 109,892 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Intra-Cellular Therapies by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 597,713 shares of the biopharmaceutical company’s stock valued at $43,735,000 after acquiring an additional 18,865 shares during the last quarter. TimesSquare Capital Management LLC grew its stake 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 worth $32,055,000 after acquiring an additional 26,600 shares during the period. Finally, Cynosure Group LLC raised its holdings in shares of Intra-Cellular Therapies by 161.0% during the third quarter. Cynosure Group LLC now owns 14,442 shares of the biopharmaceutical company’s stock valued at $1,057,000 after purchasing an additional 8,909 shares during the last quarter. 92.33% of the stock is currently owned by institutional investors.

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.