Intra-Cellular Therapies (NASDAQ:ITCI) Upgraded at Cantor Fitzgerald

Intra-Cellular Therapies (NASDAQ:ITCI) was upgraded by investment analysts at Cantor Fitzgerald from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and set a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday. Baird R W lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday. Royal Bank of Canada raised their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Morgan Stanley boosted their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Needham & Company LLC reissued a “hold” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.31.

Intra-Cellular Therapies Stock Performance

Shares of ITCI opened at $126.89 on Tuesday. The firm has a market capitalization of $13.45 billion, a P/E ratio of -145.85 and a beta of 0.70. Intra-Cellular Therapies has a 52 week low of $62.78 and a 52 week high of $128.00. The stock has a 50 day moving average price of $87.14 and a two-hundred day moving average price of $79.68.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business had revenue of $175.40 million for the quarter, compared to analysts’ expectations of $172.30 million. During the same period in the prior year, the business earned ($0.25) earnings per share. The company’s revenue for the quarter was up 39.0% compared to the same quarter last year. On average, equities analysts forecast that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael Halstead sold 22,869 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Park Avenue Securities LLC boosted its stake in Intra-Cellular Therapies by 21.3% during the fourth quarter. Park Avenue Securities LLC now owns 6,293 shares of the biopharmaceutical company’s stock worth $526,000 after acquiring an additional 1,103 shares in the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of Intra-Cellular Therapies by 6.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock valued at $266,000 after purchasing an additional 192 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Intra-Cellular Therapies by 2.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 35,921 shares of the biopharmaceutical company’s stock worth $3,000,000 after purchasing an additional 947 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Intra-Cellular Therapies by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company’s stock worth $748,000 after buying an additional 141 shares during the last quarter. Finally, Fulton Bank N.A. bought a new position in Intra-Cellular Therapies during the 4th quarter valued at approximately $234,000. 92.33% of the stock is currently owned by institutional investors.

Intra-Cellular Therapies Company Profile

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.