JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Intra-Cellular Therapies (NASDAQ:ITCI) Stock

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price boosted by JPMorgan Chase & Co. from $81.00 to $89.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

Several other research analysts have also recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. UBS Group cut their price objective on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Morgan Stanley boosted their target price on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Royal Bank of Canada increased their price target on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Intra-Cellular Therapies currently has a consensus rating of “Moderate Buy” and an average target price of $97.23.

Intra-Cellular Therapies Stock Up 1.2 %

Shares of ITCI stock opened at $90.51 on Monday. Intra-Cellular Therapies has a 12 month low of $52.88 and a 12 month high of $91.68. The company’s fifty day simple moving average is $76.42 and its 200-day simple moving average is $73.65. The firm has a market cap of $9.60 billion, a PE ratio of -104.03 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The business had revenue of $175.40 million for the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The company’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.25) earnings per share. On average, equities analysts predict that Intra-Cellular Therapies will post -0.62 earnings per share for the current fiscal year.

Insider Transactions at Intra-Cellular Therapies

In other news, EVP Mark Neumann sold 18,714 shares of the stock in a transaction that occurred 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 28,680 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were 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 owns 1,070,329 shares of the company’s stock, valued at $79,696,697.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction that occurred 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 directly owns 29,700 shares in the company, valued at $2,229,876. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 175,316 shares of company stock worth $13,037,345 over the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Large investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in shares of Intra-Cellular Therapies during the 1st quarter valued at $32,000. Fidelis Capital Partners LLC acquired a new position in Intra-Cellular Therapies in the first quarter valued at about $53,000. Summit Securities Group LLC bought a new stake in Intra-Cellular Therapies during the second quarter worth about $56,000. Capital Performance Advisors LLP acquired a new stake in Intra-Cellular Therapies during the third quarter worth about $74,000. Finally, CWM LLC increased its holdings in Intra-Cellular Therapies by 83.9% in the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 626 shares during the period. Institutional investors and hedge funds 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.