Intra-Cellular Therapies (NASDAQ:ITCI) PT Raised to $94.00 at Needham & Company LLC

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective raised by investment analysts at Needham & Company LLC from $90.00 to $94.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s price objective points to a potential upside of 24.54% from the stock’s current price.

Several other research firms have also issued reports on ITCI. Bank of America increased their target price on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. TD Cowen raised their price objective on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Canaccord Genuity Group upped their target price on shares of Intra-Cellular Therapies from $100.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $120.00 price target on shares of Intra-Cellular Therapies in a research report on Friday, June 14th. Finally, Mizuho upped their price objective on Intra-Cellular Therapies from $82.00 to $96.00 and gave the stock 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 given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $91.83.

Intra-Cellular Therapies Price Performance

Shares of ITCI stock opened at $75.48 on Tuesday. Intra-Cellular Therapies has a 1-year low of $45.50 and a 1-year high of $84.89. The firm has a market cap of $7.97 billion, a PE ratio of -65.07 and a beta of 0.97. The company has a 50-day moving average of $69.17 and a two-hundred day moving average of $68.50.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.15. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. The firm had revenue of $144.90 million during the quarter, compared to the consensus estimate of $141.41 million. During the same quarter last year, the firm earned ($0.46) EPS. The firm’s revenue for the quarter was up 52.0% on a year-over-year basis. Sell-side analysts anticipate that Intra-Cellular Therapies will post -0.51 EPS for the current fiscal year.

Institutional Trading of Intra-Cellular Therapies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC grew its position in shares of Intra-Cellular Therapies by 13.0% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,946 shares of the biopharmaceutical company’s stock valued at $206,000 after buying an additional 455 shares during the last quarter. Rhumbline Advisers increased its position in shares of Intra-Cellular Therapies by 2.1% during the third quarter. Rhumbline Advisers now owns 137,262 shares of the biopharmaceutical company’s stock worth $7,150,000 after purchasing an additional 2,809 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Intra-Cellular Therapies by 2.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 40,997 shares of the biopharmaceutical company’s stock worth $2,192,000 after purchasing an additional 997 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Intra-Cellular Therapies in the 3rd quarter valued at about $344,000. Finally, Rafferty Asset Management LLC lifted its holdings in shares of Intra-Cellular Therapies by 29.0% in the 3rd quarter. Rafferty Asset Management LLC now owns 6,266 shares of the biopharmaceutical company’s stock valued at $326,000 after purchasing an additional 1,410 shares during the last quarter. Institutional investors and hedge funds 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.