Canaccord Genuity Group Boosts Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $107.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective raised by Canaccord Genuity Group from $100.00 to $107.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Several other research analysts have also weighed in on ITCI. Needham & Company LLC increased their price objective on shares of Intra-Cellular Therapies from $82.00 to $90.00 and gave the stock a buy rating in a report on Monday. Royal Bank of Canada restated an outperform rating and issued a $86.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Mizuho raised their price target on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a buy rating in a report on Monday. Robert W. Baird raised their price target on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an outperform rating in a report on Wednesday, April 17th. Finally, Cantor Fitzgerald restated an overweight rating and issued a $101.00 price target on shares of Intra-Cellular Therapies in a report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $90.17.

Intra-Cellular Therapies Trading Down 1.4 %

Shares of ITCI stock opened at $72.13 on Tuesday. Intra-Cellular Therapies has a 1-year low of $45.50 and a 1-year high of $84.89. The firm’s 50-day simple moving average is $69.38 and its 200-day simple moving average is $64.63.

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

Insider Transactions at Intra-Cellular Therapies

In other news, EVP Suresh K. Durgam sold 6,450 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $66.56, for a total transaction of $429,312.00. Following the completion of the sale, the executive vice president now owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of Intra-Cellular Therapies stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value of $429,312.00. Following the completion of the transaction, the executive vice president now owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sharon Mates sold 40,712 shares of Intra-Cellular Therapies stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $66.50, for a total transaction of $2,707,348.00. Following the completion of the transaction, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at approximately $69,845,548.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,487 shares of company stock valued at $11,364,950. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds and other institutional investors have recently modified their holdings of the company. Xponance Inc. raised its position in Intra-Cellular Therapies by 3.0% in the fourth quarter. Xponance Inc. now owns 5,676 shares of the biopharmaceutical company’s stock worth $407,000 after acquiring an additional 163 shares in the last quarter. Regal Investment Advisors LLC grew its stake in Intra-Cellular Therapies by 1.4% during the 3rd quarter. Regal Investment Advisors LLC now owns 13,610 shares of the biopharmaceutical company’s stock valued at $709,000 after acquiring an additional 186 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in Intra-Cellular Therapies by 0.8% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 26,796 shares of the biopharmaceutical company’s stock valued at $1,396,000 after acquiring an additional 200 shares in the last quarter. Bailard Inc. grew its stake in Intra-Cellular Therapies by 1.2% during the 4th quarter. Bailard Inc. now owns 17,080 shares of the biopharmaceutical company’s stock valued at $1,223,000 after acquiring an additional 200 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in Intra-Cellular Therapies by 13.8% during the 3rd quarter. Global Retirement Partners LLC now owns 1,753 shares of the biopharmaceutical company’s stock valued at $89,000 after acquiring an additional 213 shares in the last quarter. 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.