Intra-Cellular Therapies’ (ITCI) Neutral Rating Reaffirmed at Piper Sandler

Piper Sandler restated their neutral rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a $132.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $107.00.

Several other equities research analysts have also weighed in on ITCI. JPMorgan Chase & Co. increased their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Royal Bank of Canada lifted their price objective on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Morgan Stanley upped their target price on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a report on Monday. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.31.

Intra-Cellular Therapies Stock Down 0.2 %

Shares of NASDAQ:ITCI opened at $126.89 on Tuesday. The company has a market cap of $13.45 billion, a PE ratio of -145.85 and a beta of 0.70. Intra-Cellular Therapies has a fifty-two week low of $62.78 and a fifty-two week high of $128.00. The firm has a 50-day simple moving average of $87.14 and a 200 day simple moving average of $79.68.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The company had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business’s revenue was up 39.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.25) earnings per share. As a group, research analysts forecast that Intra-Cellular Therapies will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Intra-Cellular Therapies

A number of hedge funds and other institutional investors have recently made changes to their positions in ITCI. Victory Capital Management Inc. grew its position in Intra-Cellular Therapies by 7.4% in the second quarter. Victory Capital Management Inc. now owns 68,139 shares of the biopharmaceutical company’s stock worth $4,667,000 after buying an additional 4,674 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Intra-Cellular Therapies by 1.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 52,499 shares of the biopharmaceutical company’s stock worth $3,714,000 after acquiring an additional 502 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Intra-Cellular Therapies by 21.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 35,492 shares of the biopharmaceutical company’s stock worth $2,431,000 after acquiring an additional 6,382 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Intra-Cellular Therapies by 130.0% during the second quarter. Renaissance Technologies LLC now owns 222,400 shares of the biopharmaceutical company’s stock worth $15,232,000 after purchasing an additional 125,700 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Intra-Cellular Therapies during the second quarter worth $1,420,000. 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.