Intra-Cellular Therapies (NASDAQ:ITCI) PT Raised to $81.00 at JPMorgan Chase & Co.

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $79.00 to $81.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 6.17% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, August 7th. Royal Bank of Canada dropped their price target on Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. UBS Group lowered their target price on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald raised their price target on shares of Intra-Cellular Therapies from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, The Goldman Sachs Group dropped their price objective on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.00.

Intra-Cellular Therapies Price Performance

Shares of ITCI stock traded down $0.70 on Wednesday, hitting $76.29. 89,800 shares of the stock traded hands, compared to its average volume of 976,850. The company has a market capitalization of $8.05 billion, a PE ratio of -65.33 and a beta of 1.01. Intra-Cellular Therapies has a 1-year low of $45.50 and a 1-year high of $84.89. The company’s fifty day moving average is $74.66 and its 200 day moving average is $71.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.03. The business had revenue of $161.40 million during the quarter, compared to the consensus estimate of $157.74 million. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. The company’s quarterly revenue was up 45.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.45) earnings per share. As a group, equities research analysts expect that Intra-Cellular Therapies will post -0.54 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the transaction, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,229,876. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Rory B. Riggs sold 4,462 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $75.57, for a total transaction of $337,193.34. Following the sale, the director now owns 116,600 shares in the company, valued at approximately $8,811,462. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the sale, the executive vice president now owns 29,700 shares in the company, valued at $2,229,876. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,176 shares of company stock worth $3,260,440. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of institutional investors and hedge funds have recently made changes to their positions in ITCI. Oak Ridge Investments LLC purchased a new stake in shares of Intra-Cellular Therapies during the 2nd quarter valued at $811,000. Perceptive Advisors LLC purchased a new stake in shares of Intra-Cellular Therapies during the 4th quarter valued at $7,735,000. SG Americas Securities LLC boosted its holdings in shares of Intra-Cellular Therapies by 962.7% in the 2nd quarter. SG Americas Securities LLC now owns 48,778 shares of the biopharmaceutical company’s stock worth $3,341,000 after purchasing an additional 44,188 shares in the last quarter. Schroder Investment Management Group grew its position in Intra-Cellular Therapies by 36.7% during the fourth quarter. Schroder Investment Management Group now owns 779,823 shares of the biopharmaceutical company’s stock valued at $55,851,000 after acquiring an additional 209,331 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in Intra-Cellular Therapies by 12.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock worth $120,723,000 after purchasing an additional 191,416 shares during the period. 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.