Canaccord Genuity Group Raises Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $113.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective upped by Canaccord Genuity Group from $107.00 to $113.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

ITCI has been the topic of a number of other research reports. The Goldman Sachs Group lifted their target price on Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a neutral rating in a research report on Wednesday, April 17th. Royal Bank of Canada reiterated an outperform rating and issued a $86.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Bank of America lifted their target price on Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Cantor Fitzgerald reiterated an overweight rating and issued a $120.00 target price on shares of Intra-Cellular Therapies in a research report on Friday, June 14th. Finally, Mizuho lifted their target price on Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a buy rating in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $92.67.

Intra-Cellular Therapies Stock Performance

NASDAQ ITCI opened at $76.58 on Thursday. The business has a 50 day simple moving average of $69.53 and a 200 day simple moving average of $68.69. Intra-Cellular Therapies has a 52-week low of $45.50 and a 52-week high of $84.89. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of -66.02 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.15. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The company had revenue of $144.90 million during the quarter, compared to the consensus estimate of $141.41 million. During the same quarter in the prior year, the firm posted ($0.46) EPS. The firm’s revenue for the quarter was up 52.0% compared to the same quarter last year. On average, analysts predict that Intra-Cellular Therapies will post -0.51 EPS for the current year.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of institutional investors have recently added to or reduced their stakes in ITCI. Avoro Capital Advisors LLC bought a new position in Intra-Cellular Therapies in the 4th quarter worth about $161,543,000. Norges Bank bought a new position in Intra-Cellular Therapies in the 4th quarter worth about $85,744,000. Avidity Partners Management LP bought a new position in Intra-Cellular Therapies in the 3rd quarter worth about $41,729,000. Polar Capital Holdings Plc increased its stake in Intra-Cellular Therapies by 150.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $52,090,000 after acquiring an additional 600,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Intra-Cellular Therapies by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock worth $651,334,000 after acquiring an additional 554,577 shares during the last quarter. 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.