Intra-Cellular Therapies (NASDAQ:ITCI) PT Raised to $90.00 at Needham & Company LLC

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective boosted by Needham & Company LLC from $82.00 to $90.00 in a report issued on Monday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on ITCI. TD Cowen boosted their price target on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a buy rating in a report on Wednesday, April 17th. Cantor Fitzgerald restated an overweight rating and set a $101.00 price objective on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. The Goldman Sachs Group lifted their price objective on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a neutral rating in a research note on Wednesday, April 17th. Royal Bank of Canada restated an outperform rating and set a $86.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Finally, Canaccord Genuity Group cut their price objective on shares of 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. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Intra-Cellular Therapies presently has a consensus rating of Moderate Buy and an average price target of $90.17.

Intra-Cellular Therapies Stock Down 1.4 %

Intra-Cellular Therapies stock opened at $72.13 on Monday. The company has a fifty day moving average price of $69.38 and a two-hundred day moving average price of $64.63. Intra-Cellular Therapies has a 12 month low of $45.50 and a 12 month high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The firm had revenue of $132.10 million during the quarter, compared to the consensus estimate 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 firm’s revenue was up 50.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.45) earnings per share. As a group, sell-side analysts expect that Intra-Cellular Therapies will post -0.62 EPS for the current year.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 20,565 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $65.21, for a total value of $1,341,043.65. Following the sale, the chief executive officer now directly owns 1,050,309 shares in the company, valued at $68,490,649.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sharon Mates sold 20,565 shares of the 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 owns 1,050,309 shares in the company, valued at $68,490,649.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Suresh K. Durgam sold 6,450 shares of the 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 in the company, valued at approximately $1,076,275.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,487 shares of company stock worth $11,364,950. 3.40% of the stock is owned by corporate insiders.

Institutional Trading of Intra-Cellular Therapies

Large investors have recently made changes to their positions in the business. Kapitalo Investimentos Ltda bought a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth $26,000. Signaturefd LLC boosted its holdings in Intra-Cellular Therapies by 85.7% in the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 239 shares during the last quarter. Neo Ivy Capital Management bought a new position in Intra-Cellular Therapies in the third quarter valued at about $45,000. Cape Investment Advisory Inc. bought a new position in Intra-Cellular Therapies in the fourth quarter valued at about $78,000. Finally, Parallel Advisors LLC boosted its holdings in Intra-Cellular Therapies by 16.3% in the fourth 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 during the last quarter. 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.