Intra-Cellular Therapies (NASDAQ:ITCI) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI - Free Report) in a research note issued to investors on Friday morning, Benzinga reports. They currently have a $82.00 target price on the biopharmaceutical company's stock.

Several other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group reduced their price objective on Intra-Cellular Therapies from $101.00 to $100.00 and set a buy rating on the stock in a research note on Friday, February 23rd. Mizuho upped their target price on Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a buy rating in a research note on Friday, February 16th. Bank of America upped their target price on Intra-Cellular Therapies from $74.00 to $82.00 and gave the company a buy rating in a research note on Tuesday, January 2nd. Robert W. Baird began coverage on Intra-Cellular Therapies in a research note on Wednesday, January 3rd. They set an outperform rating and a $83.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an overweight rating and set a $101.00 target price on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $81.42.

Intra-Cellular Therapies Price Performance

Shares of ITCI stock traded up $1.23 during trading hours on Friday, hitting $68.44. The stock had a trading volume of 702,125 shares, compared to its average volume of 776,094. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $76.11. The stock's 50-day moving average price is $69.10 and its two-hundred day moving average price is $62.85. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of -46.88 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last issued its 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 return on equity of 23.02% and a negative net margin of 30.08%. The firm had revenue of $132.10 million for the quarter, compared to analysts' expectations of $135.97 million. During the same period in the previous year, the firm posted ($0.45) earnings per share. The business's revenue was up 50.3% compared to the same quarter last year. As a group, equities research analysts predict that Intra-Cellular Therapies will post -0.65 earnings per share for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, Director Joel S. Marcus sold 26,328 shares of the company's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the completion of the sale, the director now owns 39,662 shares in the company, valued at $2,723,986.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Intra-Cellular Therapies news, Director Joel S. Marcus sold 26,328 shares of the company's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the completion of the sale, the director now owns 39,662 shares in the company, valued at $2,723,986.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Suresh K. Durgam sold 6,450 shares of the company's 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 of the company's stock, valued at approximately $1,076,275.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 361,765 shares of company stock worth $24,201,987. Company insiders own 3.40% of the company's stock.

Institutional Trading of Intra-Cellular Therapies

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in shares of Intra-Cellular Therapies by 11.7% in the 1st quarter. JPMorgan Chase & Co. now owns 157,144 shares of the biopharmaceutical company's stock valued at $9,615,000 after acquiring an additional 16,454 shares during the period. Bank of New York Mellon Corp increased its position in shares of Intra-Cellular Therapies by 5.2% in the 1st quarter. Bank of New York Mellon Corp now owns 385,508 shares of the biopharmaceutical company's stock valued at $23,591,000 after acquiring an additional 18,999 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Intra-Cellular Therapies in the 1st quarter valued at $349,000. PNC Financial Services Group Inc. increased its position in shares of Intra-Cellular Therapies by 25.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,909 shares of the biopharmaceutical company's stock valued at $363,000 after acquiring an additional 1,204 shares during the period. Finally, Natixis Advisors L.P. increased its position in shares of Intra-Cellular Therapies by 71.3% in the 1st quarter. Natixis Advisors L.P. now owns 18,165 shares of the biopharmaceutical company's stock valued at $1,112,000 after acquiring an additional 7,558 shares during the period. Hedge funds and other institutional investors 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.