Intra-Cellular Therapies (NASDAQ:ITCI – Free Report) had its price objective increased by Royal Bank of Canada from $106.00 to $108.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the biopharmaceutical company’s stock.
ITCI has been the subject of a number of other reports. Needham & Company LLC reaffirmed a buy rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, August 7th. Canaccord Genuity Group upped their target price on Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a buy rating in a research report on Thursday, June 20th. Piper Sandler upgraded Intra-Cellular Therapies from a neutral rating to an overweight rating and increased their target price for the company from $68.00 to $92.00 in a research note on Friday, September 6th. JPMorgan Chase & Co. boosted their price objective on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an overweight rating in a report on Wednesday, August 21st. Finally, UBS Group reduced their target price on Intra-Cellular Therapies from $83.00 to $79.00 and set a neutral rating for the company in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intra-Cellular Therapies presently has an average rating of Moderate Buy and an average target price of $96.75.
Get Our Latest Stock Report on ITCI
Intra-Cellular Therapies Price Performance
Intra-Cellular Therapies (NASDAQ:ITCI – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.03. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The company had revenue of $161.40 million for the quarter, compared to analyst estimates of $157.74 million. During the same quarter last year, the business earned ($0.45) earnings per share. Intra-Cellular Therapies’s revenue was up 45.7% compared to the same quarter last year. On average, sell-side analysts expect that Intra-Cellular Therapies will post -0.59 EPS for the current year.
Insider Activity
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 transaction of $1,405,047.12. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at $2,229,876. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 28,680 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.46, for a total transaction of $2,135,512.80. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $79,696,697.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of the firm’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 transaction, the executive vice president now owns 29,700 shares in the company, valued at $2,229,876. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 175,316 shares of company stock valued at $13,037,345 over the last quarter. 3.40% of the stock is owned by company insiders.
Institutional Trading of Intra-Cellular Therapies
A number of hedge funds have recently bought and sold shares of ITCI. Kapitalo Investimentos Ltda purchased a new stake in Intra-Cellular Therapies during the 4th quarter worth about $26,000. Headlands Technologies LLC bought a new stake in Intra-Cellular Therapies in the first quarter valued at $32,000. Fidelis Capital Partners LLC bought a new stake in shares of Intra-Cellular Therapies during the 1st quarter valued at about $53,000. Summit Securities Group LLC purchased a new position in shares of Intra-Cellular Therapies during the 2nd quarter worth approximately $56,000. Finally, CWM LLC grew its stake in Intra-Cellular Therapies by 83.9% in the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 626 shares during the period. 92.33% of the stock is currently owned by 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.
Featured Stories
- Five stocks we like better than Intra-Cellular Therapies
- What is MarketRank™? How to Use it
- Ciena Stock Powers the AI Cloud Boom—Don’t Miss Out
- How to Use the MarketBeat Dividend Calculator
- Affirm’s Path to Profitability Elevates with Interest Rate Cuts
- Industrial Products Stocks Investing
- RPM International Thrives in Rate-Cut Driven Construction Rally
Receive News & Ratings for Intra-Cellular Therapies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intra-Cellular Therapies and related companies with MarketBeat.com's FREE daily email newsletter.