Canaccord Genuity Group Boosts Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $107.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective upped by equities research analysts at Canaccord Genuity Group from $100.00 to $107.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 42.53% from the stock’s current price.

Other equities analysts also recently issued reports about the company. The Goldman Sachs Group increased their target price on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $101.00 price objective on shares of Intra-Cellular Therapies in a report on Friday, February 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $86.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Robert W. Baird increased their target price on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Finally, Needham & Company LLC increased their target price on Intra-Cellular Therapies from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Monday. Two equities research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.58.

Intra-Cellular Therapies Price Performance

ITCI traded up $0.53 during trading on Tuesday, reaching $75.07. 228,161 shares of the stock were exchanged, compared to its average volume of 941,182. Intra-Cellular Therapies has a 1 year low of $45.50 and a 1 year high of $84.89. The business’s 50 day moving average price is $69.34 and its two-hundred day moving average price is $64.36. The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of -51.20 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share 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 the consensus estimate of $135.97 million. During the same period in the prior year, the business posted ($0.45) earnings per share. The firm’s revenue for the quarter was up 50.3% compared to the same quarter last year. On average, analysts anticipate that Intra-Cellular Therapies will post -0.67 EPS for the current year.

Insider Activity

In other news, CFO Lawrence J. Hineline sold 13,337 shares of Intra-Cellular Therapies stock in a transaction on Monday, February 26th. The stock was sold at an average price of $69.43, for a total transaction of $925,987.91. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Sharon Mates sold 40,712 shares of Intra-Cellular Therapies stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $66.50, for a total transaction of $2,707,348.00. Following the completion of the sale, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $69,845,548.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Lawrence J. Hineline sold 13,337 shares of Intra-Cellular Therapies stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $69.43, for a total value of $925,987.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,487 shares of company stock worth $11,364,950. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda bought a new position in Intra-Cellular Therapies during the fourth quarter valued at about $26,000. Signaturefd LLC grew its stake in shares of Intra-Cellular Therapies by 85.7% in the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 239 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Intra-Cellular Therapies in the 3rd quarter valued at approximately $45,000. Cape Investment Advisory Inc. acquired a new position in shares of Intra-Cellular Therapies in the 4th quarter worth approximately $78,000. Finally, CI Investments Inc. boosted its holdings in shares of Intra-Cellular Therapies by 1,191.6% in the 3rd quarter. CI Investments Inc. now owns 1,692 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 1,561 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors.

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.