Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Receives $96.58 Average Price Target from Brokerages

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have earned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $96.58.

A number of equities analysts recently issued reports on ITCI shares. Canaccord Genuity Group lifted their target price on Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Mizuho increased their target price on shares of 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. lifted their price target on Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a report on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, August 7th.

Intra-Cellular Therapies Price Performance

Intra-Cellular Therapies stock opened at $75.11 on Wednesday. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89. The stock has a market capitalization of $7.93 billion, a PE ratio of -64.75 and a beta of 1.00. The firm has a 50 day simple moving average of $75.76 and a 200-day simple moving average of $71.31.

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

Insider Buying and Selling at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 34,396 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $72.84, for a total value of $2,505,404.64. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $77,962,764.36. The sale was disclosed in a filing with the SEC, which is available at this link. In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at $2,229,876. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sharon Mates sold 34,396 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. The disclosure for this sale can be found here. Insiders sold a total of 179,778 shares of company stock valued at $13,374,538 in the last quarter. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ITCI. Avoro Capital Advisors LLC acquired a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at approximately $161,543,000. Norges Bank bought a new position in Intra-Cellular Therapies in the fourth quarter valued at about $85,744,000. Perceptive Advisors LLC grew its position in shares of Intra-Cellular Therapies by 62.6% in the 2nd quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock valued at $117,557,000 after buying an additional 661,052 shares during the last quarter. Millennium Management LLC raised its position in shares of Intra-Cellular Therapies by 214.5% in the 2nd quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock worth $60,895,000 after acquiring an additional 606,358 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Intra-Cellular Therapies by 6.5% during the fourth 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. 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.