Canaccord Genuity Group Boosts Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $107.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target boosted by Canaccord Genuity Group from $100.00 to $107.00 in a research note released on Tuesday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biopharmaceutical company’s stock.

ITCI has been the topic of several other research reports. Bank of America lifted their target price on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a buy rating in a research report on Wednesday, April 17th. TD Cowen boosted their price target on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Needham & Company LLC lifted their target price on shares of Intra-Cellular Therapies from $82.00 to $90.00 and gave the stock a buy rating in a research note on Monday. Royal Bank of Canada reaffirmed an outperform rating and set a $86.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Finally, Cantor Fitzgerald reaffirmed an overweight rating and set a $101.00 target price on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Intra-Cellular Therapies currently has a consensus rating of Moderate Buy and an average target price of $90.17.

Intra-Cellular Therapies Stock Performance

ITCI stock opened at $72.13 on Tuesday. The firm’s fifty day moving average is $69.38 and its 200 day moving average is $64.63. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $132.10 million for the quarter, compared to analyst estimates of $135.97 million. During the same quarter last year, the business earned ($0.45) earnings per share. The company’s revenue for the quarter was up 50.3% compared to the same quarter last year. As a group, research analysts expect that Intra-Cellular Therapies will post -0.62 earnings per share for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 22,590 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $69.79, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 22,590 shares of the business’s stock in a transaction that occurred 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 approximately $73,301,065.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joel S. Marcus sold 26,328 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the transaction, the director now owns 39,662 shares of the company’s stock, valued at approximately $2,723,986.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,487 shares of company stock worth $11,364,950. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantum Private Wealth LLC boosted its holdings in shares of Intra-Cellular Therapies by 64.7% in the 4th quarter. Quantum Private Wealth LLC now owns 23,705 shares of the biopharmaceutical company’s stock valued at $1,698,000 after buying an additional 9,308 shares in the last quarter. HealthInvest Partners AB acquired a new position in shares of Intra-Cellular Therapies in the 4th quarter valued at $877,000. Phocas Financial Corp. acquired a new position in shares of Intra-Cellular Therapies in the 4th quarter valued at $1,949,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Intra-Cellular Therapies by 209.4% in 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 buying an additional 104,700 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Intra-Cellular Therapies by 36.3% in 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 buying an additional 259,424 shares in the last quarter. Institutional investors and hedge funds 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.