The Goldman Sachs Group Increases Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $77.00

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) had its price target increased by equities research analysts at The Goldman Sachs Group from $67.00 to $77.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a "neutral" rating on the biopharmaceutical company's stock. The Goldman Sachs Group's target price points to a potential upside of 0.40% from the stock's current price.

Several other equities analysts also recently weighed in on ITCI. Bank of America raised their target price on Intra-Cellular Therapies from $74.00 to $82.00 and gave the company a "buy" rating in a research report on Tuesday, January 2nd. Needham & Company LLC restated a "buy" rating and issued a $82.00 target price on shares of Intra-Cellular Therapies in a research report on Tuesday. Mizuho raised their target price on Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, February 16th. Cantor Fitzgerald reiterated an "overweight" rating and set a $101.00 price objective on shares of Intra-Cellular Therapies in a research report on Friday, February 23rd. Finally, Robert W. Baird initiated coverage on Intra-Cellular Therapies in a research report on Wednesday, January 3rd. They set an "outperform" rating and a $83.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Intra-Cellular Therapies has a consensus rating of "Moderate Buy" and an average target price of $86.17.

Intra-Cellular Therapies Trading Down 3.9 %

ITCI traded down $3.15 during trading on Wednesday, hitting $76.69. The company's stock had a trading volume of 2,861,823 shares, compared to its average volume of 870,245. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of -52.53 and a beta of 1.02. The business's fifty day simple moving average is $69.14 and its 200 day simple moving average is $63.73. Intra-Cellular Therapies has a twelve month low of $45.50 and a twelve month high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last released its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.14. The business had revenue of $132.10 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 50.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.45) earnings per share. As a group, equities research analysts forecast that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of Intra-Cellular Therapies stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total value of $429,312.00. Following the sale, the executive vice president now owns 16,170 shares in the company, valued at $1,076,275.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sharon Mates sold 22,590 shares of Intra-Cellular Therapies stock in a transaction on Monday, February 26th. The stock was sold at an average price of $69.79, for a total value of $1,576,556.10. Following the completion of the sale, the chief executive officer now directly owns 1,050,309 shares of the company's stock, valued at $73,301,065.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Suresh K. Durgam sold 6,450 shares of Intra-Cellular Therapies stock in a transaction 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 sale, the executive vice president now directly owns 16,170 shares of the company's stock, valued at $1,076,275.20. The disclosure for this sale can be found here. Insiders have sold 236,404 shares of company stock worth $15,792,460 over the last quarter. 3.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of institutional investors have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. grew its stake in shares of Intra-Cellular Therapies by 14.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 16,651 shares of the biopharmaceutical company's stock valued at $1,152,000 after buying an additional 2,090 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Intra-Cellular Therapies in the fourth quarter valued at $26,000. HighPoint Advisor Group LLC acquired a new stake in shares of Intra-Cellular Therapies in the fourth quarter valued at $217,000. Vanguard Group Inc. grew its stake in shares of Intra-Cellular Therapies by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company's stock valued at $651,334,000 after buying an additional 554,577 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Intra-Cellular Therapies by 52.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 578,615 shares of the biopharmaceutical company's stock valued at $41,440,000 after buying an additional 199,503 shares in the last quarter. 92.33% of the stock is owned by institutional investors and hedge funds.

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.