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

Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They currently have a $130.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 70.18% from the stock’s previous close.

A number of other brokerages have also issued reports on ITCI. Piper Sandler upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their target price for the company from $68.00 to $92.00 in a research report on Friday, September 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, August 7th. Canaccord Genuity Group boosted their price objective 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. Mizuho lifted their target price on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Finally, UBS Group reduced their price objective on shares of 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.58.

Intra-Cellular Therapies Stock Up 1.3 %

Shares of ITCI traded up $1.01 during mid-day trading on Monday, hitting $76.39. The stock had a trading volume of 141,821 shares, compared to its average volume of 929,791. The company’s fifty day simple moving average is $75.66 and its two-hundred day simple moving average is $71.24. 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 cap of $8.07 billion, a PE ratio of -65.85 and a beta of 1.00.

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

Insider Buying and Selling at Intra-Cellular Therapies

In other news, 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 directly owns 29,700 shares in the company, valued at approximately $2,229,876. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total value of $4,010,433.45. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $80,970,388.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of the 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 transaction, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,229,876. The disclosure for this sale can be found here. In the last quarter, insiders have sold 199,778 shares of company stock worth $14,892,738. 3.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Large investors have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC lifted its position in shares of Intra-Cellular Therapies by 36.3% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 5,380 shares of the biopharmaceutical company’s stock worth $385,000 after buying an additional 1,434 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in Intra-Cellular Therapies during the fourth quarter worth approximately $482,000. Norges Bank bought a new stake in Intra-Cellular Therapies during the fourth quarter worth approximately $85,744,000. UBS Group AG grew its holdings in Intra-Cellular Therapies by 205.3% during the fourth quarter. UBS Group AG now owns 134,762 shares of the biopharmaceutical company’s stock valued at $9,652,000 after purchasing an additional 90,617 shares during the last quarter. Finally, Coldstream Capital Management Inc. bought a new position in Intra-Cellular Therapies in the 4th quarter worth $264,000. 92.33% of the stock is currently owned by 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.