Intra-Cellular Therapies (NASDAQ:ITCI) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $103.00 target price on the biopharmaceutical company’s stock.

A number of other analysts have also issued reports on the company. Cantor Fitzgerald reiterated an overweight rating and set a $120.00 price objective on shares of Intra-Cellular Therapies in a research note on Friday, June 14th. Canaccord Genuity Group boosted their price objective on Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a buy rating in a research note on Thursday, June 20th. Mizuho boosted their target price on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a buy rating in a research report on Friday, June 21st. JPMorgan Chase & Co. raised their price target on Intra-Cellular Therapies from $75.00 to $78.00 and gave the company an overweight rating in a report on Wednesday, June 12th. Finally, Robert W. Baird raised their price target on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an outperform rating in a report on Wednesday, April 17th. Three investment 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 stock currently has a consensus rating of Moderate Buy and a consensus price target of $94.33.

Intra-Cellular Therapies Price Performance

Shares of ITCI opened at $68.49 on Tuesday. The firm has a market cap of $7.23 billion, a PE ratio of -59.04 and a beta of 0.97. The stock’s fifty day moving average price is $69.39 and its two-hundred day moving average price is $69.02. Intra-Cellular Therapies has a 1 year low of $45.50 and a 1 year high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.15. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The company had revenue of $144.90 million for the quarter, compared to analyst estimates of $141.41 million. During the same period in the previous year, the company posted ($0.46) EPS. The firm’s revenue for the quarter was up 52.0% compared to the same quarter last year. Sell-side analysts anticipate that Intra-Cellular Therapies will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Rory B. Riggs sold 4,462 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $75.57, for a total transaction of $337,193.34. Following the transaction, the director now directly owns 116,600 shares in the company, valued at approximately $8,811,462. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Intra-Cellular Therapies news, Director Nostrand Robert L. Van sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total value of $1,518,200.00. Following the completion of the sale, the director now owns 9,690 shares in the company, valued at approximately $735,567.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Rory B. Riggs sold 4,462 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the completion of the sale, the director now owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several institutional investors and hedge funds have recently bought and sold shares of ITCI. Avoro Capital Advisors LLC purchased a new stake in Intra-Cellular Therapies in the 4th quarter worth approximately $161,543,000. Norges Bank purchased a new position in shares of Intra-Cellular Therapies in the 4th quarter valued at approximately $85,744,000. Avidity Partners Management LP purchased a new position in shares of Intra-Cellular Therapies in the 3rd quarter valued at approximately $41,729,000. Polar Capital Holdings Plc lifted its stake in shares of Intra-Cellular Therapies by 150.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $52,090,000 after purchasing an additional 600,000 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Intra-Cellular Therapies by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock valued at $651,334,000 after purchasing an additional 554,577 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.