Intra-Cellular Therapies (NASDAQ:ITCI) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research report report published on Tuesday morning, Benzinga reports. They currently have a $90.00 price objective on the biopharmaceutical company’s stock.

A number of other equities research analysts have also weighed in on ITCI. Robert W. Baird raised their price target on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an outperform rating in a report on Wednesday, April 17th. Canaccord Genuity Group boosted their price target on Intra-Cellular Therapies from $100.00 to $107.00 and gave the stock a buy rating in a research note on Tuesday, April 23rd. The Goldman Sachs Group raised their price objective on Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a neutral rating in a research note on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $120.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, April 24th. Finally, TD Cowen lifted 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 note on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Intra-Cellular Therapies has an average rating of Moderate Buy and a consensus price target of $90.17.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI opened at $71.21 on Tuesday. The business’s 50-day moving average is $69.11 and its two-hundred day moving average is $65.85. The firm has a market capitalization of $6.89 billion, a PE ratio of -48.77 and a beta of 1.01. Intra-Cellular Therapies has a 12 month low of $45.50 and a 12 month high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating the consensus estimate 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 business had revenue of $132.10 million for the quarter, compared to the consensus estimate of $135.97 million. During the same period last year, the business posted ($0.45) EPS. The company’s revenue was up 50.3% on a year-over-year basis. Equities analysts anticipate that Intra-Cellular Therapies will post -0.59 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Michael Halstead sold 7,907 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.53, for a total value of $549,773.71. Following the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at approximately $2,065,041. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Sharon Mates sold 22,590 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $69.79, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Halstead sold 7,907 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $69.53, for a total value of $549,773.71. Following the completion of the sale, the executive vice president now directly owns 29,700 shares in the company, valued at $2,065,041. The disclosure for this sale can be found here. Insiders sold a total of 168,487 shares of company stock valued at $11,364,950 over the last 90 days. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Several institutional investors have recently modified their holdings of ITCI. Raymond James & Associates grew its position in Intra-Cellular Therapies by 4.0% in the 3rd quarter. Raymond James & Associates now owns 149,445 shares of the biopharmaceutical company’s stock worth $7,785,000 after purchasing an additional 5,716 shares during the last quarter. Bank of New York Mellon Corp increased its position in Intra-Cellular Therapies by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 404,329 shares of the biopharmaceutical company’s stock valued at $21,061,000 after acquiring an additional 6,182 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Intra-Cellular Therapies by 23.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,764 shares of the biopharmaceutical company’s stock valued at $717,000 after acquiring an additional 2,651 shares in the last quarter. Strs Ohio boosted its position in Intra-Cellular Therapies by 3.3% during the 3rd quarter. Strs Ohio now owns 27,900 shares of the biopharmaceutical company’s stock worth $1,453,000 after acquiring an additional 900 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Intra-Cellular Therapies by 5.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,483 shares of the biopharmaceutical company’s stock worth $2,369,000 after acquiring an additional 2,434 shares during the period. Institutional investors 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.