Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Raised to $107.00

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) had its target price increased by stock analysts at Canaccord Genuity Group from $100.00 to $107.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. Canaccord Genuity Group's target price indicates a potential upside of 44.58% from the stock's previous close.

Several other equities research analysts also recently commented on ITCI. Mizuho lifted their price objective on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the stock a "buy" rating in a research note on Monday. Royal Bank of Canada reiterated 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 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. Robert W. Baird lifted their price objective 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $101.00 price objective on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. Two 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.58.

Intra-Cellular Therapies Price Performance

NASDAQ ITCI traded down $0.53 on Tuesday, hitting $74.01. The stock had a trading volume of 826,594 shares, compared to its average volume of 949,397. The business's fifty day moving average price is $69.41 and its 200 day moving average price is $64.52. Intra-Cellular Therapies has a 52-week low of $45.50 and a 52-week high of $84.89. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of -50.69 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.14. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The business had revenue of $132.10 million for the quarter, compared to analyst estimates of $135.97 million. During the same period in the previous year, the company earned ($0.45) earnings per share. The business's revenue for the quarter was up 50.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Intra-Cellular Therapies will post -0.67 EPS for the current year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 22,590 shares of the company's stock in a transaction dated Monday, February 26th. The shares were 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 $73,301,065.11. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Intra-Cellular Therapies news, Director Joel S. Marcus sold 26,328 shares of the company's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $68.68, for a total value of $1,808,207.04. Following the completion of the transaction, the director now owns 39,662 shares in the company, valued at $2,723,986.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sharon Mates sold 22,590 shares of the company's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the completion of the transaction, the chief executive officer now owns 1,050,309 shares of the company's stock, valued at approximately $73,301,065.11. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,487 shares of company stock worth $11,364,950. Company insiders own 3.40% of the company's stock.

Institutional Trading of Intra-Cellular Therapies

Institutional investors and hedge funds have recently modified their holdings of the stock. Kapitalo Investimentos Ltda purchased a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth about $26,000. Signaturefd LLC increased its stake 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 worth $37,000 after purchasing an additional 239 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Intra-Cellular Therapies during the 3rd quarter valued at about $45,000. Cape Investment Advisory Inc. purchased a new stake in Intra-Cellular Therapies during the 4th quarter valued at about $78,000. Finally, Parallel Advisors LLC grew its stake in 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 acquiring an additional 219 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.