Intra-Cellular Therapies (NASDAQ:ITCI) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report issued on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a $100.00 price objective on the biopharmaceutical company’s stock.

Other analysts have also recently issued reports about the company. Piper Sandler raised 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. Morgan Stanley raised their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. UBS Group cut their price objective on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group lowered 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, 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 report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.62.

Intra-Cellular Therapies Stock Up 2.1 %

NASDAQ ITCI opened at $86.54 on Wednesday. The stock’s 50-day simple moving average is $75.18 and its two-hundred day simple moving average is $73.23. Intra-Cellular Therapies has a twelve month low of $50.87 and a twelve month high of $88.00. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of -99.47 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The company had revenue of $175.40 million for the quarter, compared to the consensus estimate of $172.30 million. During the same period last year, the business posted ($0.25) earnings per share. The firm’s quarterly revenue was up 39.0% compared to the same quarter last year. On average, equities analysts expect that Intra-Cellular Therapies will post -0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Sharon Mates sold 34,396 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Sharon Mates sold 34,396 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total transaction 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 175,316 shares of company stock valued at $13,037,345. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Several hedge funds have recently bought and sold shares of the stock. EFG Asset Management North America Corp. lifted its stake in Intra-Cellular Therapies by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 34,452 shares of the biopharmaceutical company’s stock worth $2,357,000 after purchasing an additional 163 shares in the last quarter. Assetmark Inc. increased its position in shares of Intra-Cellular Therapies by 9.1% during the third quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock worth $181,000 after acquiring an additional 207 shares during the period. US Bancorp DE increased its position in shares of Intra-Cellular Therapies by 3.3% during the third quarter. US Bancorp DE now owns 7,951 shares of the biopharmaceutical company’s stock worth $582,000 after acquiring an additional 251 shares during the period. Lisanti Capital Growth LLC increased its position 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 worth $3,687,000 after acquiring an additional 400 shares during the period. Finally, Quantum Private Wealth LLC increased its position in shares of Intra-Cellular Therapies by 1.0% during the third quarter. Quantum Private Wealth LLC now owns 38,661 shares of the biopharmaceutical company’s stock worth $2,829,000 after acquiring an additional 400 shares during the period. Hedge funds and other 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.