Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Raised to $108.00 at Royal Bank of Canada

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target raised by Royal Bank of Canada from $106.00 to $108.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 48.49% from the company’s previous close.

ITCI has been the subject of several other reports. JPMorgan Chase & Co. increased their target price on Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, August 7th. The Goldman Sachs Group cut their price target on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. UBS Group dropped their price target on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Mizuho lifted their price target on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.75.

Intra-Cellular Therapies Stock Up 0.7 %

Shares of NASDAQ:ITCI traded up $0.48 during trading on Friday, reaching $72.73. 39,470 shares of the company traded hands, compared to its average volume of 894,160. Intra-Cellular Therapies has a 52 week low of $45.50 and a 52 week high of $84.89. The firm has a market capitalization of $7.68 billion, a PE ratio of -62.63 and a beta of 1.00. The company’s 50 day moving average is $75.00 and its two-hundred day moving average is $71.94.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share 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 business had revenue of $161.40 million during the quarter, compared to the consensus estimate of $157.74 million. During the same period in the prior year, the company earned ($0.45) EPS. Intra-Cellular Therapies’s revenue for the quarter was up 45.7% on a year-over-year basis. As a group, research analysts anticipate that Intra-Cellular Therapies will post -0.59 EPS for the current year.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,229,876. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intra-Cellular Therapies 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 value 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 filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 175,316 shares of company stock worth $13,037,345 in the last 90 days. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Several institutional investors have recently added to or reduced their stakes in ITCI. Schroder Investment Management Group grew its holdings in shares of Intra-Cellular Therapies by 36.7% during the fourth quarter. Schroder Investment Management Group now owns 779,823 shares of the biopharmaceutical company’s stock valued at $55,851,000 after buying an additional 209,331 shares during the last quarter. Regal Investment Advisors LLC raised its holdings in Intra-Cellular Therapies by 6.5% in the 4th quarter. Regal Investment Advisors LLC now owns 14,501 shares of the biopharmaceutical company’s stock valued at $1,039,000 after acquiring an additional 891 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new stake in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $4,473,000. Avoro Capital Advisors LLC acquired a new stake in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $161,543,000. Finally, Parkman Healthcare Partners LLC purchased a new position in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $13,341,000. Institutional investors own 92.33% of the company’s stock.

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.