Intra-Cellular Therapies’ (ITCI) “Overweight” Rating Reiterated at Cantor Fitzgerald

Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “overweight” rating restated by investment analysts at Cantor Fitzgerald in a note issued to investors on Wednesday, Benzinga reports. They currently have a $120.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 63.82% from the company’s current price.

Several other research analysts have also issued reports on ITCI. Bank of America increased their price target on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. The Goldman Sachs Group increased their price target on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Mizuho increased their price target on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the stock a “buy” rating in a research note on Monday. TD Cowen increased their price target on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Robert W. Baird raised their price objective on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

Intra-Cellular Therapies Trading Down 1.0 %

NASDAQ ITCI traded down $0.76 during trading on Wednesday, hitting $73.25. The company had a trading volume of 213,930 shares, compared to its average volume of 939,851. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89. The company has a market cap of $7.09 billion, a price-to-earnings ratio of -50.29 and a beta of 1.02. The company’s fifty day moving average is $69.41 and its 200-day moving average is $64.52.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.14. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The business had revenue of $132.10 million during the quarter, compared to analyst estimates of $135.97 million. During the same period in the prior year, the business earned ($0.45) EPS. The company’s revenue for the quarter was up 50.3% on a year-over-year basis. As a group, equities analysts anticipate that Intra-Cellular Therapies will post -0.62 EPS for the current year.

Insider Activity

In other news, Director Joel S. Marcus sold 26,328 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the sale, the director now owns 39,662 shares of the company’s stock, valued at approximately $2,723,986.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Joel S. Marcus sold 26,328 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $68.68, for a total value of $1,808,207.04. Following the transaction, the director now owns 39,662 shares of the company’s stock, valued at $2,723,986.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Suresh K. Durgam sold 6,450 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total transaction of $429,312.00. Following the sale, the executive vice president now owns 16,170 shares in the company, valued at approximately $1,076,275.20. The disclosure for this sale can be found here. Insiders have sold a total of 168,487 shares of company stock valued at $11,364,950 in the last 90 days. 3.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several institutional investors and hedge funds have recently modified their holdings of the stock. PFG Investments LLC raised its position in shares of Intra-Cellular Therapies by 392.9% during the first quarter. PFG Investments LLC now owns 13,800 shares of the biopharmaceutical company’s stock valued at $955,000 after buying an additional 11,000 shares during the last quarter. Raymond James & Associates increased its position in Intra-Cellular Therapies by 12.4% in the first quarter. Raymond James & Associates now owns 156,046 shares of the biopharmaceutical company’s stock worth $10,798,000 after purchasing an additional 17,191 shares during the last quarter. Wasatch Advisors LP increased its position in Intra-Cellular Therapies by 6.3% in the first quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock worth $266,748,000 after purchasing an additional 227,439 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Intra-Cellular Therapies by 14.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 16,651 shares of the biopharmaceutical company’s stock worth $1,152,000 after purchasing an additional 2,090 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in Intra-Cellular Therapies in the fourth quarter worth $26,000. Institutional investors own 92.33% of the company’s stock.

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.