Intra-Cellular Therapies (NASDAQ:ITCI) Given Overweight Rating at Cantor Fitzgerald

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report)'s stock had its "overweight" rating restated by stock analysts at Cantor Fitzgerald in a report issued on Wednesday, Benzinga reports. They currently have a $120.00 price objective on the biopharmaceutical company's stock. Cantor Fitzgerald's price objective indicates a potential upside of 64.11% from the stock's previous close.

ITCI has been the topic of several other reports. Needham & Company LLC increased their price objective on shares of Intra-Cellular Therapies from $82.00 to $90.00 and gave the stock a "buy" rating in a report on Monday. Robert W. Baird raised their price target on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 17th. Canaccord Genuity Group lifted their price objective on shares of Intra-Cellular Therapies from $100.00 to $107.00 and gave the stock a "buy" rating in a report on Tuesday. Royal Bank of Canada reiterated an "outperform" rating and set a $86.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Finally, TD Cowen upped their price objective on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $90.17.

Intra-Cellular Therapies Trading Down 1.2 %

ITCI stock traded down $0.89 on Wednesday, hitting $73.12. The company's stock had a trading volume of 736,511 shares, compared to its average volume of 946,703. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of -50.27 and a beta of 1.02. The firm has a 50 day moving average of $69.41 and a two-hundred day moving average of $64.52. Intra-Cellular Therapies has a 1 year low of $45.50 and a 1 year high of $84.89.

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, topping the consensus estimate of ($0.44) by $0.14. The business had revenue of $132.10 million for the quarter, compared to analyst estimates of $135.97 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The business's revenue for the quarter was up 50.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.45) EPS. As a group, equities analysts forecast that Intra-Cellular Therapies will post -0.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, EVP Michael Halstead sold 7,907 shares of the stock in a transaction 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 directly owns 29,700 shares in the company, valued at $2,065,041. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sharon Mates sold 22,590 shares of the firm's 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 in the company, valued at $73,301,065.11. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael Halstead sold 7,907 shares of the firm'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 completion of the sale, the executive vice president now owns 29,700 shares of the company's stock, valued at $2,065,041. The disclosure for this sale can be found here. Insiders sold 168,487 shares of company stock worth $11,364,950 over the last three months. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Intra-Cellular Therapies

A number of hedge funds and other institutional investors have recently made changes to their positions in ITCI. Avoro Capital Advisors LLC acquired a new stake in shares of Intra-Cellular Therapies in the fourth quarter valued at $161,543,000. Norges Bank bought a new position in Intra-Cellular Therapies in the fourth quarter valued at about $85,744,000. Avidity Partners Management LP bought a new position in Intra-Cellular Therapies in the third quarter valued at about $41,729,000. Polar Capital Holdings Plc boosted its holdings in Intra-Cellular Therapies by 150.0% in the third quarter. Polar Capital Holdings Plc now owns 1,000,000 shares of the biopharmaceutical company's stock valued at $52,090,000 after acquiring an additional 600,000 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 554,577 shares during the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

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.