Intra-Cellular Therapies’ (ITCI) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research report sent to investors on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $130.00 price objective on the biopharmaceutical company’s stock.

A number of other research firms also recently commented on ITCI. The Goldman Sachs Group decreased their target price on Intra-Cellular Therapies from $77.00 to $74.00 and set a neutral rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an overweight rating in a research report on Wednesday, August 21st. Mizuho boosted their price target on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a buy rating in a research report on Friday, June 21st. UBS Group dropped their price target on Intra-Cellular Therapies from $83.00 to $79.00 and set a neutral rating for the company in a research report on Thursday, August 8th. Finally, Piper Sandler raised Intra-Cellular Therapies from a neutral rating to an overweight rating and boosted their price objective for the stock from $68.00 to $92.00 in a research note on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Intra-Cellular Therapies presently has a consensus rating of Moderate Buy and an average target price of $96.58.

Intra-Cellular Therapies Trading Down 0.2 %

Shares of Intra-Cellular Therapies stock opened at $75.26 on Monday. The firm has a market cap of $7.95 billion, a P/E ratio of -64.88 and a beta of 1.00. Intra-Cellular Therapies has a 12 month low of $45.50 and a 12 month high of $84.89. The stock’s fifty day moving average price is $75.74 and its 200-day moving average price is $71.28.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating 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 in the previous year, the firm earned ($0.45) earnings per share. The firm’s quarterly revenue was up 45.7% compared to the same quarter last year. Analysts forecast that Intra-Cellular Therapies will post -0.59 earnings per share for the current year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $80,970,388.85. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $80,970,388.85. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,229,876. The disclosure for this sale can be found here. Insiders have sold a total of 179,778 shares of company stock worth $13,374,538 over the last quarter. 3.40% of the stock is owned by corporate insiders.

Institutional Trading of Intra-Cellular Therapies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. EFG Asset Management North America Corp. increased its position in shares of 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 acquiring an additional 163 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Intra-Cellular Therapies by 16.3% during the fourth quarter. Parallel Advisors LLC now owns 1,564 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 219 shares during the last quarter. Assetmark Inc. increased its position in shares of Intra-Cellular Therapies by 17.8% during the fourth quarter. Assetmark Inc. now owns 2,236 shares of the biopharmaceutical company’s stock worth $160,000 after acquiring an additional 338 shares during the last quarter. 1492 Capital Management LLC increased its position in shares of Intra-Cellular Therapies by 1.0% during the fourth quarter. 1492 Capital Management LLC now owns 35,293 shares of the biopharmaceutical company’s stock worth $2,528,000 after acquiring an additional 361 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth about $26,000. 92.33% of the stock is owned by hedge funds and other 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.