Intra-Cellular Therapies, Inc. (NASDAQ:ITCI – Get Free Report) has received an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $96.75.
A number of brokerages recently weighed in on ITCI. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Piper Sandler upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Finally, UBS Group decreased their target price on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th.
Get Our Latest Stock Analysis on ITCI
Intra-Cellular Therapies Stock Performance
Intra-Cellular Therapies (NASDAQ:ITCI – Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.03. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The firm had revenue of $161.40 million for the quarter, compared to analysts’ expectations of $157.74 million. During the same period last year, the business posted ($0.45) earnings per share. The firm’s revenue for the quarter was up 45.7% on a year-over-year basis. On average, equities research analysts forecast that Intra-Cellular Therapies will post -0.59 EPS for the current fiscal year.
Insider Buying and Selling
In other news, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the sale, the executive vice president now owns 29,700 shares in the company, valued at $2,229,876. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Sharon Mates sold 34,396 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $77,962,764.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of Intra-Cellular Therapies stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the transaction, the executive vice president now owns 29,700 shares in the company, valued at $2,229,876. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 175,316 shares of company stock valued at $13,037,345 over the last quarter. Corporate insiders own 3.40% of the company’s stock.
Institutional Investors Weigh In On Intra-Cellular Therapies
Several hedge funds have recently modified their holdings of ITCI. Schroder Investment Management Group lifted its position in shares of Intra-Cellular Therapies by 36.7% in the 4th quarter. Schroder Investment Management Group now owns 779,823 shares of the biopharmaceutical company’s stock valued at $55,851,000 after acquiring an additional 209,331 shares in the last quarter. Regal Investment Advisors LLC boosted its position in shares of Intra-Cellular Therapies by 6.5% in the fourth quarter. Regal Investment Advisors LLC now owns 14,501 shares of the biopharmaceutical company’s stock worth $1,039,000 after buying an additional 891 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in shares of Intra-Cellular Therapies in the fourth quarter worth $4,473,000. Avoro Capital Advisors LLC acquired a new position in Intra-Cellular Therapies during the fourth quarter valued at $161,543,000. Finally, Parkman Healthcare Partners LLC acquired a new position in Intra-Cellular Therapies during the fourth quarter valued at $13,341,000. 92.33% of the stock is owned by hedge funds and other 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.
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