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

Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a report issued on Wednesday, Benzinga reports. They presently have a $120.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 63.82% from the stock’s previous close.

A number of other brokerages also recently commented on ITCI. TD Cowen boosted their target price on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Bank of America boosted their target price on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Robert W. Baird boosted their target price on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. The Goldman Sachs Group boosted their target price on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Finally, Mizuho boosted their price target 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. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.17.

Intra-Cellular Therapies Stock Down 1.0 %

NASDAQ ITCI traded down $0.76 on Wednesday, reaching $73.25. The stock had a trading volume of 213,930 shares, compared to its average volume of 939,851. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of -50.29 and a beta of 1.02. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89. The stock has a fifty day moving average price of $69.41 and a two-hundred day moving average price of $64.52.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. The company had revenue of $132.10 million for the quarter, compared to analyst estimates of $135.97 million. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The firm’s quarterly revenue was up 50.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.45) earnings per share. Sell-side analysts forecast that Intra-Cellular Therapies will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 20,565 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the completion of the transaction, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $68,490,649.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Lawrence J. Hineline sold 13,337 shares of Intra-Cellular Therapies stock in a transaction on Monday, February 26th. The stock was sold at an average price of $69.43, for a total value of $925,987.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sharon Mates sold 20,565 shares of Intra-Cellular Therapies stock in a transaction on Monday, March 11th. The shares were sold at an average price of $65.21, for a total value of $1,341,043.65. Following the completion of the sale, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at approximately $68,490,649.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,487 shares of company stock valued at $11,364,950. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of hedge funds and other institutional investors have recently made changes to their positions in ITCI. Kapitalo Investimentos Ltda purchased a new stake in Intra-Cellular Therapies during the fourth quarter valued at about $26,000. Signaturefd LLC grew its position in 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 during the period. Neo Ivy Capital Management purchased a new stake in Intra-Cellular Therapies during the third quarter valued at about $45,000. Cape Investment Advisory Inc. purchased a new stake in Intra-Cellular Therapies during the fourth quarter valued at about $78,000. Finally, Parallel Advisors LLC grew its position in Intra-Cellular Therapies by 16.3% during the fourth quarter. Parallel Advisors LLC now owns 1,564 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 219 shares during the period. Hedge funds and other institutional investors own 92.33% of the company’s stock.

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.