Canaccord Genuity Group Boosts Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $107.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target raised by research analysts at Canaccord Genuity Group from $100.00 to $107.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 42.53% from the company’s current price.

A number of other equities research analysts also recently commented on ITCI. Robert W. Baird raised their price objective on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. The Goldman Sachs Group upped their price objective on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. TD Cowen upped their price objective on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Mizuho upped their price objective on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a “buy” rating in a research report on Monday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $101.00 price target on shares of Intra-Cellular Therapies in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.58.

Intra-Cellular Therapies Trading Up 0.7 %

Shares of ITCI traded up $0.53 during mid-day trading on Tuesday, hitting $75.07. 228,161 shares of the company’s stock were exchanged, compared to its average volume of 941,182. Intra-Cellular Therapies has a fifty-two week low of $45.50 and a fifty-two week high of $84.89. The firm has a market capitalization of $7.27 billion, a P/E ratio of -51.20 and a beta of 1.02. The business’s 50 day moving average is $69.34 and its two-hundred day moving average is $64.36.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.14. The business had revenue of $132.10 million during the quarter, compared to the consensus estimate of $135.97 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The business’s quarterly revenue was up 50.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.45) earnings per share. On average, equities research analysts forecast that Intra-Cellular Therapies will post -0.67 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Suresh K. Durgam sold 6,450 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value of $429,312.00. Following the completion of the transaction, the executive vice president now owns 16,170 shares in the company, valued at $1,076,275.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Suresh K. Durgam sold 6,450 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value of $429,312.00. Following the transaction, the executive vice president now directly owns 16,170 shares in the company, valued at $1,076,275.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Lawrence J. Hineline sold 13,337 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.43, for a total transaction of $925,987.91. The disclosure for this sale can be found here. Insiders have sold 168,487 shares of company stock worth $11,364,950 in the last ninety days. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Kapitalo Investimentos Ltda acquired a new stake in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $26,000. Signaturefd LLC increased its holdings in shares of Intra-Cellular Therapies by 85.7% during the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 239 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Intra-Cellular Therapies during the third quarter valued at $45,000. Cape Investment Advisory Inc. bought a new stake in Intra-Cellular Therapies in the 4th quarter worth about $78,000. Finally, Parallel Advisors LLC lifted its position in shares of Intra-Cellular Therapies by 16.3% during the 4th quarter. Parallel Advisors LLC now owns 1,564 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 219 shares in the last quarter. Institutional investors 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.