Cantor Fitzgerald Reaffirms Overweight Rating for Intra-Cellular Therapies (NASDAQ:ITCI)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report published on Friday, Benzinga reports. Cantor Fitzgerald currently has a $120.00 price target on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on the company. Bank of America raised their target price on Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Robert W. Baird raised their target price on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an outperform rating in a research report on Wednesday, April 17th. Royal Bank of Canada restated an outperform rating and set a $86.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Needham & Company LLC restated a buy rating and set a $90.00 target price on shares of Intra-Cellular Therapies in a research report on Tuesday, May 7th. Finally, Canaccord Genuity Group raised their target price on Intra-Cellular Therapies from $100.00 to $107.00 and gave the company a buy rating in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $91.50.

Intra-Cellular Therapies Stock Performance

Shares of ITCI opened at $67.77 on Friday. The business’s 50-day moving average is $68.84 and its two-hundred day moving average is $68.31. The company has a market capitalization of $7.15 billion, a P/E ratio of -58.42 and a beta of 0.97. Intra-Cellular Therapies has a fifty-two week low of $45.50 and a fifty-two week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.15. The company had revenue of $144.90 million for the quarter, compared to the consensus estimate of $141.41 million. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The firm’s revenue for the quarter was up 52.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.46) EPS. Analysts forecast that Intra-Cellular Therapies will post -0.51 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ITCI. Charles Schwab Investment Management Inc. lifted its stake in 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 worth $50,783,000 after purchasing an additional 259,424 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Intra-Cellular Therapies by 13.0% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,946 shares of the biopharmaceutical company’s stock worth $206,000 after purchasing an additional 455 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Intra-Cellular Therapies by 0.8% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 26,796 shares of the biopharmaceutical company’s stock worth $1,396,000 after purchasing an additional 200 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in Intra-Cellular Therapies by 14.9% in the 3rd quarter. Mutual of America Capital Management LLC now owns 52,489 shares of the biopharmaceutical company’s stock worth $2,734,000 after purchasing an additional 6,789 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Intra-Cellular Therapies by 2.1% in the 3rd quarter. Rhumbline Advisers now owns 137,262 shares of the biopharmaceutical company’s stock worth $7,150,000 after purchasing an additional 2,809 shares in the last quarter. 92.33% of the stock is owned by hedge funds and other institutional investors.

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.