Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Receives $96.62 Average Target Price from Brokerages

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has received an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $96.62.

A number of research firms recently weighed in on ITCI. UBS Group dropped their target price on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada lifted their price target on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. lifted their target price on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group dropped their target price on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday.

Intra-Cellular Therapies Price Performance

Shares of ITCI opened at $86.54 on Thursday. Intra-Cellular Therapies has a 1 year low of $50.87 and a 1 year high of $88.00. The stock’s fifty day moving average price is $75.18 and its two-hundred day moving average price is $73.23. The firm has a market cap of $9.17 billion, a PE ratio of -99.47 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The company had revenue of $175.40 million for the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The company’s quarterly revenue was up 39.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.25) earnings per share. Sell-side analysts anticipate that Intra-Cellular Therapies will post -0.63 earnings per share for the current fiscal year.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 53,013 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $80,970,388.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $80,970,388.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the sale, the executive vice president now directly owns 29,700 shares in the company, valued at $2,229,876. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,316 shares of company stock worth $13,037,345 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

Large investors have recently modified their holdings of the stock. Perceptive Advisors LLC lifted its position in shares of Intra-Cellular Therapies by 62.6% during the second quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock worth $117,557,000 after purchasing an additional 661,052 shares during the last quarter. Millennium Management LLC lifted its position in shares of Intra-Cellular Therapies by 214.5% in the 2nd quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock worth $60,895,000 after purchasing an additional 606,358 shares during the period. Avoro Capital Advisors LLC boosted its stake in shares of Intra-Cellular Therapies by 21.2% during the second quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock valued at $205,470,000 after purchasing an additional 525,000 shares in the last quarter. Marshall Wace LLP bought a new position in Intra-Cellular Therapies in the second quarter worth approximately $34,178,000. Finally, Hood River Capital Management LLC purchased a new position in shares of Intra-Cellular Therapies in the 2nd quarter valued at $33,390,000. Institutional investors own 92.33% of the company’s stock.

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.