Intra-Cellular Therapies (NASDAQ:ITCI) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research report released on Wednesday, Benzinga reports. They currently have a $120.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald also issued estimates for Intra-Cellular Therapies’ FY2024 earnings at ($0.82) EPS.

ITCI has been the topic of several other reports. Robert W. Baird boosted their price target on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an outperform rating in a research note on Wednesday, April 17th. Royal Bank of Canada reaffirmed an outperform rating and set a $86.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. TD Cowen lifted their price objective on Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a buy rating in a report on Wednesday, April 17th. The Goldman Sachs Group lifted their price objective on Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a neutral rating in a report on Wednesday, April 17th. Finally, Needham & Company LLC lifted their price objective on Intra-Cellular Therapies from $82.00 to $90.00 and gave the company a buy rating in a report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $90.17.

Intra-Cellular Therapies Stock Performance

Shares of ITCI opened at $73.26 on Wednesday. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89. The stock’s 50-day moving average price is $69.33 and its 200 day moving average price is $64.85.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.14. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The firm had revenue of $132.10 million for the quarter, compared to analyst estimates of $135.97 million. During the same period in the previous year, the company posted ($0.45) earnings per share. The company’s quarterly revenue was up 50.3% compared to the same quarter last year. Equities analysts predict that Intra-Cellular Therapies will post -0.59 EPS for the current year.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 20,565 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $65.21, for a total value of $1,341,043.65. Following the transaction, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at approximately $68,490,649.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Michael Halstead sold 7,907 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $69.53, for a total value of $549,773.71. Following the completion of the transaction, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,065,041. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sharon Mates sold 20,565 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the completion of the transaction, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at approximately $68,490,649.89. The disclosure for this sale can be found here. Insiders have sold 168,487 shares of company stock valued at $11,364,950 in the last three months. 3.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Xponance Inc. raised its position in Intra-Cellular Therapies by 3.0% in the 4th quarter. Xponance Inc. now owns 5,676 shares of the biopharmaceutical company’s stock worth $407,000 after purchasing an additional 163 shares during the last quarter. Regal Investment Advisors LLC raised its position in shares of 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 during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of 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 during the last quarter. Bailard Inc. raised its position in shares of 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 during the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of 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 during the last quarter. 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.