Intra-Cellular Therapies' (ITCI) Buy Rating Reiterated at Needham & Company LLC

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They currently have a $90.00 target price on the biopharmaceutical company's stock. Needham & Company LLC's target price would suggest a potential upside of 26.39% from the company's previous close.

ITCI has been the topic of a number of other reports. Robert W. Baird upped their target price on Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 17th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $86.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Canaccord Genuity Group boosted their target price on shares of Intra-Cellular Therapies from $100.00 to $107.00 and gave the stock a "buy" rating in a research report on Tuesday, April 23rd. Mizuho upped their target price on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the stock a "buy" rating in a report on Monday, April 22nd. Finally, TD Cowen lifted their price target on Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.17.

Intra-Cellular Therapies Stock Up 0.3 %

NASDAQ:ITCI traded up $0.20 during trading hours on Tuesday, reaching $71.21. The company had a trading volume of 1,120,283 shares, compared to its average volume of 933,766. Intra-Cellular Therapies has a twelve month low of $45.50 and a twelve month high of $84.89. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of -48.77 and a beta of 1.01. The business's 50-day simple moving average is $69.11 and its two-hundred day simple moving average is $65.85.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $135.97 million. During the same period last year, the business posted ($0.45) EPS. The firm's revenue for the quarter was up 50.3% compared to the same quarter last year. As a group, equities analysts predict that Intra-Cellular Therapies will post -0.59 earnings per share for the current year.

Insider Activity at Intra-Cellular Therapies

In other news, EVP Suresh K. Durgam sold 6,450 shares of Intra-Cellular Therapies stock in a transaction dated 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 transaction, the executive vice president now owns 16,170 shares in the company, valued at $1,076,275.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sharon Mates sold 20,565 shares of the business's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the sale, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $68,490,649.89. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Suresh K. Durgam sold 6,450 shares of the stock in a transaction dated 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 directly owns 16,170 shares in the company, valued at approximately $1,076,275.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,487 shares of company stock worth $11,364,950. Company insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. boosted its position in shares of Intra-Cellular Therapies by 9.8% in the first quarter. Sei Investments Co. now owns 128,311 shares of the biopharmaceutical company's stock valued at $8,880,000 after acquiring an additional 11,488 shares during the period. Quantum Private Wealth LLC lifted its stake in Intra-Cellular Therapies by 56.9% in the 1st quarter. Quantum Private Wealth LLC now owns 37,199 shares of the biopharmaceutical company's stock worth $2,574,000 after purchasing an additional 13,494 shares in the last quarter. Swiss National Bank boosted its holdings in Intra-Cellular Therapies by 0.3% in the 1st quarter. Swiss National Bank now owns 170,900 shares of the biopharmaceutical company's stock valued at $11,826,000 after purchasing an additional 500 shares during the period. ClariVest Asset Management LLC purchased a new position in shares of Intra-Cellular Therapies during the 1st quarter valued at $344,000. Finally, Lisanti Capital Growth LLC raised its position in shares of Intra-Cellular Therapies by 0.8% in the first quarter. Lisanti Capital Growth LLC now owns 53,285 shares of the biopharmaceutical company's stock worth $3,687,000 after buying an additional 400 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors.

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.