Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Receives $97.23 Consensus Target Price from Brokerages

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have been assigned an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $97.23.

Several research analysts have recently issued reports on ITCI shares. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, October 30th. 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 report on Friday, September 6th. UBS Group reduced their price target on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group cut their target price on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th.

Intra-Cellular Therapies Stock Down 1.1 %

Intra-Cellular Therapies stock opened at $85.65 on Monday. The stock has a market cap of $9.08 billion, a PE ratio of -98.45 and a beta of 0.97. Intra-Cellular Therapies has a 12-month low of $58.92 and a 12-month high of $93.45. The business’s 50-day moving average price is $80.27 and its two-hundred day moving average price is $75.42.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The company had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The company’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.25) earnings per share. As a group, analysts expect that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its holdings in shares of Intra-Cellular Therapies by 9.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company’s stock worth $129,463,000 after buying an additional 155,655 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Intra-Cellular Therapies in the third quarter worth $97,000. Arete Wealth Advisors LLC increased its stake in Intra-Cellular Therapies by 22.0% in the third quarter. Arete Wealth Advisors LLC now owns 25,067 shares of the biopharmaceutical company’s stock valued at $1,834,000 after purchasing an additional 4,517 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Intra-Cellular Therapies by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,708,301 shares of the biopharmaceutical company’s stock valued at $125,029,000 after purchasing an additional 22,128 shares during the period. Finally, M&T Bank Corp boosted its position in shares of Intra-Cellular Therapies by 36.3% during the 3rd quarter. M&T Bank Corp now owns 6,163 shares of the biopharmaceutical company’s stock worth $451,000 after purchasing an additional 1,642 shares in the last quarter. 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.