Intra-Cellular Therapies (NASDAQ:ITCI) Given New $94.00 Price Target at Needham & Company LLC

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective lifted by Needham & Company LLC from $90.00 to $94.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other brokerages also recently issued reports on ITCI. The Goldman Sachs Group increased their price target on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a neutral rating in a report on Wednesday, April 17th. Canaccord Genuity Group increased their price objective on shares of Intra-Cellular Therapies from $100.00 to $107.00 and gave the stock a buy rating in a report on Tuesday, April 23rd. Bank of America lifted their target price on Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a buy rating in a report on Wednesday, April 17th. Royal Bank of Canada reaffirmed an outperform rating and set a $86.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Finally, TD Cowen lifted their price target on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Two research 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.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $91.83.

Intra-Cellular Therapies Stock Performance

ITCI stock opened at $75.48 on Tuesday. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of -65.07 and a beta of 0.98. The company’s 50 day moving average price is $69.00 and its 200 day moving average price is $68.45. Intra-Cellular Therapies has a fifty-two week low of $45.50 and a fifty-two week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.15. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. The firm had revenue of $144.90 million during the quarter, compared to analysts’ expectations of $141.41 million. During the same quarter in the prior year, the business earned ($0.46) EPS. Intra-Cellular Therapies’s quarterly revenue was up 52.0% compared to the same quarter last year. Equities analysts forecast that Intra-Cellular Therapies will post -0.51 EPS for the current fiscal year.

Institutional Trading of Intra-Cellular Therapies

Large investors have recently modified their holdings of the company. Kapitalo Investimentos Ltda acquired a new stake in Intra-Cellular Therapies in the fourth quarter worth approximately $26,000. Headlands Technologies LLC bought a new stake in shares of Intra-Cellular Therapies in the 1st quarter valued at approximately $32,000. Signaturefd LLC lifted its position in shares of Intra-Cellular Therapies by 85.7% in the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 239 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in Intra-Cellular Therapies in the 1st quarter worth $53,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Intra-Cellular Therapies in the third quarter worth $45,000. 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.