Royal Bank of Canada Boosts Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $108.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective raised by Royal Bank of Canada from $106.00 to $108.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has an outperform rating on the biopharmaceutical company’s stock.

ITCI has been the topic of a number of other research reports. Piper Sandler upgraded shares of Intra-Cellular Therapies from a neutral rating to an overweight rating and raised their target price for the stock from $68.00 to $92.00 in a research note on Friday, September 6th. JPMorgan Chase & Co. lifted their target price on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an overweight rating in a research note on Wednesday, August 21st. Canaccord Genuity Group increased their price target on Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a buy rating in a research note on Thursday, June 20th. The Goldman Sachs Group lowered their price objective on Intra-Cellular Therapies from $77.00 to $74.00 and set a neutral rating on the stock in a research report on Thursday, August 8th. Finally, UBS Group cut 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. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $96.75.

Intra-Cellular Therapies Stock Performance

Shares of Intra-Cellular Therapies stock traded up $0.64 on Friday, hitting $72.89. 264,594 shares of the company’s stock were exchanged, compared to its average volume of 895,331. The stock has a market capitalization of $7.70 billion, a PE ratio of -62.84 and a beta of 1.00. Intra-Cellular Therapies has a 1 year low of $45.50 and a 1 year high of $84.89. The company has a 50-day simple moving average of $74.85 and a 200-day simple moving average of $71.99.

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

Insider Buying and Selling

In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of Intra-Cellular Therapies stock in a transaction on Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,229,876. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Sharon Mates sold 28,680 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.46, for a total value of $2,135,512.80. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $79,696,697.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares in the company, valued at $2,229,876. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 175,316 shares of company stock worth $13,037,345. Insiders own 3.40% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EFG Asset Management North America Corp. grew its stake in shares of Intra-Cellular Therapies by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 34,452 shares of the biopharmaceutical company’s stock valued at $2,357,000 after buying an additional 163 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth $26,000. Lisanti Capital Growth LLC boosted its stake in shares of Intra-Cellular Therapies by 0.8% during the first quarter. Lisanti Capital Growth LLC now owns 53,285 shares of the biopharmaceutical company’s stock valued at $3,687,000 after purchasing an additional 400 shares during the period. Tidal Investments LLC grew its holdings in shares of Intra-Cellular Therapies by 13.9% in the first quarter. Tidal Investments LLC now owns 3,698 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 450 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Intra-Cellular Therapies in the 1st quarter worth about $32,000. 92.33% of the stock is owned by hedge funds and other institutional investors.

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.