Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Raised to $96.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target upped by Mizuho from $82.00 to $96.00 in a research note issued to investors on Monday morning, Benzinga reports. Mizuho currently has a buy rating on the biopharmaceutical company’s stock.

ITCI has been the subject of a number of other reports. Cantor Fitzgerald reaffirmed an overweight rating and set a $101.00 price objective on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. Bank of America lifted their price objective on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Royal Bank of Canada reaffirmed an outperform rating and set a $86.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. TD Cowen lifted their price objective on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Finally, Robert W. Baird lifted their price objective on Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an outperform rating in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intra-Cellular Therapies has a consensus rating of Moderate Buy and a consensus target price of $90.17.

Intra-Cellular Therapies Stock Performance

NASDAQ ITCI opened at $72.13 on Monday. The stock has a fifty day moving average of $69.38 and a 200-day moving average of $64.63. The stock has a market capitalization of $6.98 billion, a P/E ratio of -49.40 and a beta of 1.02. Intra-Cellular Therapies has a 52 week low of $45.50 and a 52 week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.14. The company had revenue of $132.10 million during the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same period last year, the firm earned ($0.45) EPS. Equities research analysts forecast that Intra-Cellular Therapies will post -0.62 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Joel S. Marcus sold 26,328 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $68.68, for a total value of $1,808,207.04. Following the sale, the director now directly owns 39,662 shares in the company, valued at $2,723,986.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Joel S. Marcus sold 26,328 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $68.68, for a total value of $1,808,207.04. Following the sale, the director now directly owns 39,662 shares in the company, valued at $2,723,986.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Suresh K. Durgam sold 6,450 shares of the business’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 completion of the sale, the executive vice president now owns 16,170 shares in the company, valued at $1,076,275.20. The disclosure for this sale can be found here. Insiders have sold a total of 168,487 shares of company stock worth $11,364,950 over the last three months. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Large investors have recently added to or reduced their stakes in the stock. Kapitalo Investimentos Ltda acquired a new stake in Intra-Cellular Therapies during the fourth quarter worth approximately $26,000. Signaturefd LLC lifted its stake in Intra-Cellular Therapies by 85.7% during the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 239 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Intra-Cellular Therapies during the third quarter worth $45,000. Cape Investment Advisory Inc. bought a new stake in Intra-Cellular Therapies during the fourth quarter worth $78,000. Finally, CI Investments Inc. lifted its stake in Intra-Cellular Therapies by 1,191.6% during the third quarter. CI Investments Inc. now owns 1,692 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 1,561 shares during the last quarter. Institutional investors and hedge funds 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.