Robert W. Baird Raises Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $103.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective upped by stock analysts at Robert W. Baird from $83.00 to $103.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Robert W. Baird’s target price would suggest a potential upside of 43.06% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $82.00 target price on shares of Intra-Cellular Therapies in a research report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $101.00 target price on shares of Intra-Cellular Therapies in a research report on Friday, February 23rd. The Goldman Sachs Group lifted their price target 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. Finally, Canaccord Genuity Group reduced their price objective on shares of Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating for the company in a research note 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.17.

Intra-Cellular Therapies Stock Down 6.1 %

Intra-Cellular Therapies stock opened at $72.00 on Wednesday. The company has a 50 day moving average of $69.31 and a 200-day moving average of $63.82. Intra-Cellular Therapies has a twelve month low of $45.50 and a twelve month high of $84.89. The stock has a market capitalization of $6.97 billion, a PE ratio of -49.31 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The firm had revenue of $132.10 million during the quarter, compared to analyst estimates of $135.97 million. During the same period in the prior year, the business earned ($0.45) EPS. The company’s revenue for the quarter was up 50.3% compared to the same quarter last year. Equities analysts anticipate that Intra-Cellular Therapies will post -0.69 EPS for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In related news, EVP Michael Halstead sold 7,907 shares of Intra-Cellular Therapies stock in a transaction dated 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 $2,065,041. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intra-Cellular Therapies news, 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 transaction of $549,773.71. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,065,041. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sharon Mates sold 22,590 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.79, for a total transaction of $1,576,556.10. Following the completion of the transaction, the chief executive officer now owns 1,050,309 shares in the company, valued at $73,301,065.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,487 shares of company stock worth $11,364,950. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in shares of Intra-Cellular Therapies by 11.7% in the first quarter. JPMorgan Chase & Co. now owns 157,144 shares of the biopharmaceutical company’s stock valued at $9,615,000 after purchasing an additional 16,454 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Intra-Cellular Therapies by 5.2% in the 1st quarter. Bank of New York Mellon Corp now owns 385,508 shares of the biopharmaceutical company’s stock valued at $23,591,000 after purchasing an additional 18,999 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in Intra-Cellular Therapies in the 1st quarter valued at $349,000. PNC Financial Services Group Inc. increased its position in Intra-Cellular Therapies by 25.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,909 shares of the biopharmaceutical company’s stock worth $363,000 after buying an additional 1,204 shares during the period. Finally, Natixis Advisors L.P. lifted its holdings in shares of Intra-Cellular Therapies by 71.3% during the first quarter. Natixis Advisors L.P. now owns 18,165 shares of the biopharmaceutical company’s stock worth $1,112,000 after buying an additional 7,558 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

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.