Intra-Cellular Therapies (NASDAQ:ITCI) Given New $91.00 Price Target at Bank of America

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price increased by Bank of America from $82.00 to $91.00 in a report released on Wednesday, Benzinga reports. Bank of America currently has a buy rating on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the company. Robert W. Baird began coverage on Intra-Cellular Therapies in a research note on Wednesday, January 3rd. They set an outperform rating and a $83.00 price objective for the company. Mizuho lifted their target price on Intra-Cellular Therapies from $76.00 to $82.00 and gave the stock a buy rating in a research report on Friday, February 16th. The Goldman Sachs Group lifted 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. Canaccord Genuity Group decreased their target price on Intra-Cellular Therapies from $101.00 to $100.00 and set a buy rating for the company in a research report on Friday, February 23rd. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $101.00 target price on shares of Intra-Cellular Therapies in a research report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $86.17.

Intra-Cellular Therapies Stock Down 3.9 %

Shares of NASDAQ ITCI opened at $76.69 on Wednesday. Intra-Cellular Therapies has a fifty-two week low of $45.50 and a fifty-two week high of $84.89. The business has a 50 day moving average price of $69.14 and a two-hundred day moving average price of $63.73. The firm has a market cap of $7.42 billion, a PE ratio of -52.53 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $135.97 million. During the same quarter last year, the firm earned ($0.45) EPS. Intra-Cellular Therapies’s quarterly revenue was up 50.3% on a year-over-year basis. On average, analysts anticipate that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Insider Activity at Intra-Cellular Therapies

In related news, EVP Michael Halstead sold 7,907 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $69.53, for a total transaction of $549,773.71. Following the completion of the transaction, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,065,041. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 20,565 shares of Intra-Cellular Therapies 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 of the company’s stock, valued at approximately $68,490,649.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Halstead sold 7,907 shares of Intra-Cellular Therapies stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.53, for a total value of $549,773.71. Following the sale, the executive vice president now directly owns 29,700 shares in the company, valued at approximately $2,065,041. The disclosure for this sale can be found here. Insiders sold 168,487 shares of company stock worth $11,364,950 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Intra-Cellular Therapies

Hedge funds have recently added to or reduced their stakes in the business. HealthInvest Partners AB bought a new stake in Intra-Cellular Therapies during the 4th quarter valued at $877,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Intra-Cellular Therapies by 209.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 154,700 shares of the biopharmaceutical company’s stock valued at $8,058,000 after acquiring an additional 104,700 shares in the last quarter. Phocas Financial Corp. bought a new stake in Intra-Cellular Therapies during the 4th quarter valued at $1,949,000. Charles Schwab Investment Management Inc. raised its stake in Intra-Cellular Therapies by 36.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,914 shares of the biopharmaceutical company’s stock valued at $50,783,000 after acquiring an additional 259,424 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Intra-Cellular Therapies by 5.1% during the 3rd quarter. American Century Companies Inc. now owns 441,410 shares of the biopharmaceutical company’s stock valued at $22,993,000 after acquiring an additional 21,604 shares in the last quarter. 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.