Intra-Cellular Therapies (NASDAQ:ITCI) Upgraded to “Strong-Buy” at Cantor Fitzgerald

Intra-Cellular Therapies (NASDAQ:ITCI) was upgraded by equities research analysts at Cantor Fitzgerald from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research firms also recently issued reports on ITCI. Baird R W downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday. Morgan Stanley lifted their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Needham & Company LLC restated a “hold” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a report on Monday. Piper Sandler reaffirmed a “neutral” rating and issued a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday. Finally, Royal Bank of Canada boosted their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.31.

Intra-Cellular Therapies Price Performance

ITCI stock opened at $126.71 on Tuesday. The company’s 50-day moving average is $87.89 and its 200-day moving average is $80.00. The stock has a market capitalization of $13.43 billion, a PE ratio of -145.64 and a beta of 0.70. Intra-Cellular Therapies has a 1 year low of $62.78 and a 1 year high of $128.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The firm had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. During the same quarter in the previous year, the company posted ($0.25) EPS. The firm’s revenue was up 39.0% on a year-over-year basis. On average, analysts anticipate that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Large investors have recently modified their holdings of the stock. Barclays PLC lifted its stake in Intra-Cellular Therapies by 282.0% in the third quarter. Barclays PLC now owns 34,453 shares of the biopharmaceutical company’s stock valued at $2,521,000 after purchasing an additional 25,435 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Intra-Cellular Therapies by 31.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock valued at $33,258,000 after buying an additional 109,892 shares during the period. Principal Financial Group Inc. lifted its position in shares of Intra-Cellular Therapies by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 597,713 shares of the biopharmaceutical company’s stock valued at $43,735,000 after buying an additional 18,865 shares during the last quarter. TimesSquare Capital Management LLC lifted its position in shares of Intra-Cellular Therapies by 6.5% during the 3rd quarter. TimesSquare Capital Management LLC now owns 438,083 shares of the biopharmaceutical company’s stock valued at $32,055,000 after buying an additional 26,600 shares during the last quarter. Finally, Cynosure Group LLC grew its stake in shares of Intra-Cellular Therapies by 161.0% during the 3rd quarter. Cynosure Group LLC now owns 14,442 shares of the biopharmaceutical company’s stock worth $1,057,000 after acquiring an additional 8,909 shares during the period. 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.