Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Raised to $90.00

Intra-Cellular Therapies (NASDAQ:ITCI - Free Report) had its target price upped by Needham & Company LLC from $82.00 to $90.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company's stock.

Several other research firms have also recently commented on ITCI. Bank of America increased their price objective on Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a buy rating in a research report on Wednesday, April 17th. TD Cowen increased their price objective on 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 increased their price objective on Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a buy rating in a research report on Monday. Canaccord Genuity Group dropped their target price on Intra-Cellular Therapies from $101.00 to $100.00 and set a buy rating on the stock in a research report on Friday, February 23rd. Finally, Royal Bank of Canada reissued an outperform rating and issued a $86.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $88.00.

Intra-Cellular Therapies Stock Up 3.0 %

Shares of NASDAQ ITCI traded up $2.17 during trading on Monday, reaching $74.54. The company had a trading volume of 1,927,796 shares, compared to its average volume of 950,993. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89. The stock has a market cap of $7.22 billion, a PE ratio of -51.05 and a beta of 1.02. The business's 50-day moving average is $69.34 and its 200 day moving average is $64.36.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.14. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The company had revenue of $132.10 million for the quarter, compared to analysts' expectations of $135.97 million. During the same period last year, the firm posted ($0.45) earnings per share. Intra-Cellular Therapies's revenue was up 50.3% compared to the same quarter last year. On average, analysts anticipate that Intra-Cellular Therapies will post -0.67 earnings per share for the current year.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, EVP Michael Halstead sold 7,907 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $69.53, for a total transaction of $549,773.71. Following the completion of the transaction, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,065,041. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Sharon Mates sold 22,590 shares of Intra-Cellular Therapies stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,050,309 shares in the company, valued at approximately $73,301,065.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Halstead sold 7,907 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.53, for a total value of $549,773.71. Following the transaction, the executive vice president now owns 29,700 shares of the company's stock, valued at approximately $2,065,041. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,487 shares of company stock valued at $11,364,950. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of large investors have recently bought and sold shares of ITCI. Global Retirement Partners LLC boosted its holdings in Intra-Cellular Therapies by 13.8% during the 3rd quarter. Global Retirement Partners LLC now owns 1,753 shares of the biopharmaceutical company's stock valued at $89,000 after acquiring an additional 213 shares during the period. SG Americas Securities LLC raised its position in Intra-Cellular Therapies by 138.2% during the 3rd quarter. SG Americas Securities LLC now owns 59,439 shares of the biopharmaceutical company's stock valued at $3,096,000 after purchasing an additional 34,485 shares in the last quarter. Handelsbanken Fonder AB raised its position in Intra-Cellular Therapies by 13.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 17,400 shares of the biopharmaceutical company's stock valued at $906,000 after purchasing an additional 2,000 shares in the last quarter. Raymond James & Associates raised its position in Intra-Cellular Therapies by 4.0% during the 3rd quarter. Raymond James & Associates now owns 149,445 shares of the biopharmaceutical company's stock valued at $7,785,000 after purchasing an additional 5,716 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Intra-Cellular Therapies by 1.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 404,329 shares of the biopharmaceutical company's stock valued at $21,061,000 after purchasing an additional 6,182 shares in the last quarter. 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.