Intra-Cellular Therapies’ (ITCI) Overweight Rating Reaffirmed at Cantor Fitzgerald

Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports. They presently have a $130.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 73.08% from the company’s current price.

Several other research firms also recently issued reports on ITCI. Mizuho boosted their price objective on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. upped their price target on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $68.00 to $92.00 in a research report on Friday, September 6th. The Goldman Sachs Group decreased their target price on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Intra-Cellular Therapies presently has a consensus rating of “Moderate Buy” and an average price target of $96.58.

Intra-Cellular Therapies Stock Performance

Shares of ITCI opened at $75.11 on Monday. Intra-Cellular Therapies has a fifty-two week low of $45.50 and a fifty-two week high of $84.89. The company has a market capitalization of $7.93 billion, a PE ratio of -64.75 and a beta of 1.00. The stock has a fifty day moving average of $75.76 and a two-hundred day moving average of $71.31.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.03. The business had revenue of $161.40 million for the quarter, compared to analysts’ expectations of $157.74 million. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The company’s quarterly revenue was up 45.7% on a year-over-year basis. During the same period last year, the company earned ($0.45) earnings per share. As a group, equities research analysts forecast that Intra-Cellular Therapies will post -0.59 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sharon Mates sold 34,396 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Sharon Mates sold 34,396 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $72.84, for a total value of $2,505,404.64. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rory B. Riggs sold 4,462 shares of the firm’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 sale, the director now owns 116,600 shares of the company’s stock, valued at $8,811,462. The disclosure for this sale can be found here. Insiders sold 179,778 shares of company stock worth $13,374,538 over the last quarter. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

Institutional investors and hedge funds have recently modified their holdings of the stock. Kapitalo Investimentos Ltda purchased a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth $26,000. Headlands Technologies LLC acquired a new stake in shares of Intra-Cellular Therapies during the 1st quarter valued at about $32,000. Fidelis Capital Partners LLC acquired a new stake in shares of Intra-Cellular Therapies during the 1st quarter valued at about $53,000. Summit Securities Group LLC bought a new stake in shares of Intra-Cellular Therapies in the 2nd quarter valued at approximately $56,000. Finally, Cape Investment Advisory Inc. acquired a new position in Intra-Cellular Therapies in the fourth quarter worth approximately $78,000. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

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.