Intra-Cellular Therapies’ (ITCI) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research note released on Wednesday,Benzinga reports. Royal Bank of Canada currently has a $132.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $108.00.

Several other research firms also recently issued reports on ITCI. JPMorgan Chase & Co. upped their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Needham & Company LLC reaffirmed a “hold” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, January 13th. Cantor Fitzgerald upgraded Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Morgan Stanley increased their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Leerink Partnrs downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.15.

Intra-Cellular Therapies Price Performance

Intra-Cellular Therapies stock opened at $127.15 on Wednesday. Intra-Cellular Therapies has a one year low of $62.78 and a one year high of $128.00. The company’s fifty day moving average price is $90.75 and its two-hundred day moving average price is $81.70. The company has a market capitalization of $13.48 billion, a price-to-earnings ratio of -146.15 and a beta of 0.70.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The company had revenue of $175.40 million for the quarter, compared to analyst estimates of $172.30 million. During the same period in the prior year, the company posted ($0.25) EPS. The business’s revenue was up 39.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Intra-Cellular Therapies will post -0.64 earnings per share for the current 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 that occurred 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction that occurred on 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 owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. This trade represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of hedge funds have recently made changes to their positions in the company. Perceptive Advisors LLC increased its holdings in shares of Intra-Cellular Therapies by 62.6% during the second quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock worth $117,557,000 after buying an additional 661,052 shares in the last quarter. Millennium Management LLC raised its position in Intra-Cellular Therapies by 214.5% in the 2nd quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock valued at $60,895,000 after purchasing an additional 606,358 shares during the last quarter. Marshall Wace LLP acquired a new position in Intra-Cellular Therapies in the second quarter worth $34,178,000. Point72 Asset Management L.P. grew its holdings in shares of Intra-Cellular Therapies by 218.9% during the second quarter. Point72 Asset Management L.P. now owns 554,186 shares of the biopharmaceutical company’s stock worth $37,956,000 after purchasing an additional 380,420 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its stake in shares of Intra-Cellular Therapies by 130.5% in the third quarter. Eagle Asset Management Inc. now owns 624,759 shares of the biopharmaceutical company’s stock valued at $45,714,000 after buying an additional 353,723 shares in the last quarter. Institutional investors and hedge funds 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.