Intra-Cellular Therapies’ (ITCI) Neutral Rating Reaffirmed at UBS Group

UBS Group reissued their neutral rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research note published on Tuesday, Benzinga reports. The firm currently has a $83.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $85.00.

A number of other brokerages have also commented on ITCI. JPMorgan Chase & Co. increased their price target on Intra-Cellular Therapies from $75.00 to $78.00 and gave the company an overweight rating in a research note on Wednesday, June 12th. The Goldman Sachs Group raised their price objective on Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a neutral rating in a research note on Wednesday, April 17th. TD Cowen raised their price objective on Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Bank of America increased their price target on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Finally, Needham & Company LLC increased their price target on Intra-Cellular Therapies from $90.00 to $94.00 and gave the stock a buy rating in a report on Tuesday, June 18th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $94.33.

Intra-Cellular Therapies Stock Down 4.2 %

Shares of ITCI opened at $72.42 on Tuesday. The business has a 50-day simple moving average of $69.60 and a two-hundred day simple moving average of $68.93. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of -62.43 and a beta of 0.98. Intra-Cellular Therapies has a 52 week low of $45.50 and a 52 week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $144.90 million during the quarter, compared to analysts’ expectations of $141.41 million. During the same quarter last year, the business posted ($0.46) earnings per share. The firm’s revenue was up 52.0% on a year-over-year basis. On average, equities analysts anticipate that Intra-Cellular Therapies will post -0.51 earnings per share for the current fiscal year.

Insider Transactions at Intra-Cellular Therapies

In other news, Director Rory B. Riggs sold 4,462 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $75.57, for a total transaction of $337,193.34. Following the transaction, the director now directly owns 116,600 shares in the company, valued at approximately $8,811,462. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Intra-Cellular Therapies news, Director Nostrand Robert L. Van sold 20,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the transaction, the director now directly owns 9,690 shares in the company, valued at $735,567.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rory B. Riggs sold 4,462 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the transaction, the director now owns 116,600 shares in the company, valued at $8,811,462. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Intra-Cellular Therapies by 1.4% in the first quarter. Vanguard Group Inc. now owns 9,225,981 shares of the biopharmaceutical company’s stock valued at $638,438,000 after buying an additional 131,679 shares during the last quarter. Wasatch Advisors LP grew its holdings in shares of Intra-Cellular Therapies by 6.3% during 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. Avoro Capital Advisors LLC grew its holdings in shares of Intra-Cellular Therapies by 9.7% during the first quarter. Avoro Capital Advisors LLC now owns 2,475,000 shares of the biopharmaceutical company’s stock worth $171,270,000 after purchasing an additional 219,445 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Intra-Cellular Therapies by 4.4% during the third quarter. JPMorgan Chase & Co. now owns 2,063,802 shares of the biopharmaceutical company’s stock worth $107,503,000 after purchasing an additional 86,388 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Intra-Cellular Therapies by 6.7% during the third quarter. Wellington Management Group LLP now owns 1,815,954 shares of the biopharmaceutical company’s stock worth $94,593,000 after purchasing an additional 114,370 shares during the last quarter. Hedge funds and other 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.