Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Receives $94.33 Consensus Target Price from Analysts

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have earned an average rating of “Moderate Buy” from the twelve ratings firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $94.33.

A number of brokerages have weighed in on ITCI. Royal Bank of Canada restated an “outperform” rating and issued a $103.00 price objective on shares of Intra-Cellular Therapies in a report on Tuesday, June 25th. Needham & Company LLC raised their price objective on Intra-Cellular Therapies from $90.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Mizuho raised their price objective on Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a report on Friday, June 21st. UBS Group restated a “neutral” rating and issued a $83.00 price objective (down previously from $85.00) on shares of Intra-Cellular Therapies in a report on Tuesday, June 25th. Finally, Bank of America lifted their price target on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th.

Insider Activity at Intra-Cellular Therapies

In related news, Director Rory B. Riggs sold 4,462 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $75.57, for a total value of $337,193.34. Following the sale, the director now directly owns 116,600 shares in the company, valued at approximately $8,811,462. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Intra-Cellular Therapies news, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the completion of the transaction, the director now directly owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Nostrand Robert L. Van sold 20,000 shares of Intra-Cellular Therapies stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $75.91, for a total value of $1,518,200.00. Following the completion of the transaction, the director now directly owns 9,690 shares of the company’s stock, valued at $735,567.90. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Several institutional investors have recently bought and sold shares of ITCI. Kapitalo Investimentos Ltda acquired a new position in Intra-Cellular Therapies in the 4th quarter valued at about $26,000. Headlands Technologies LLC acquired a new position in shares of Intra-Cellular Therapies during the first quarter worth about $32,000. Signaturefd LLC grew its position in shares of Intra-Cellular Therapies by 85.7% during the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 239 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Intra-Cellular Therapies during the third quarter worth about $45,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Intra-Cellular Therapies during the first quarter worth about $53,000. 92.33% of the stock is owned by institutional investors and hedge funds.

Intra-Cellular Therapies Stock Performance

Intra-Cellular Therapies stock opened at $68.54 on Friday. The company’s fifty day moving average price is $69.15 and its 200 day moving average price is $69.12. Intra-Cellular Therapies has a 1 year low of $45.50 and a 1 year high of $84.89. The stock has a market capitalization of $7.24 billion, a P/E ratio of -59.09 and a beta of 1.01.

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

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.