Intra-Cellular Therapies (NASDAQ:ITCI) Shares Gap Up After Analyst Upgrade

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) gapped up prior to trading on Tuesday after Needham & Company LLC raised their price target on the stock from $90.00 to $94.00. The stock had previously closed at $68.87, but opened at $76.07. Needham & Company LLC currently has a buy rating on the stock. Intra-Cellular Therapies shares last traded at $71.86, with a volume of 843,807 shares.

ITCI has been the topic of a number of other reports. Bank of America boosted their price objective on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $120.00 price target on shares of Intra-Cellular Therapies in a research note on Friday, June 14th. Mizuho lifted their price objective on Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Robert W. Baird increased their target price on Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Finally, TD Cowen lifted their price target on Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intra-Cellular Therapies presently has an average rating of “Moderate Buy” and a consensus target price of $91.83.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of hedge funds have recently bought and sold shares of the company. Kapitalo Investimentos Ltda purchased a new position in Intra-Cellular Therapies in the fourth quarter worth about $26,000. Headlands Technologies LLC purchased a new position in Intra-Cellular Therapies in the 1st quarter worth approximately $32,000. Signaturefd LLC lifted its position in Intra-Cellular Therapies by 85.7% in the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 239 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Intra-Cellular Therapies during the 3rd quarter valued at $45,000. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Intra-Cellular Therapies in the 1st quarter worth $53,000. Institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Up 9.6 %

The company has a 50 day moving average price of $69.17 and a two-hundred day moving average price of $68.50.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its 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. The business had revenue of $144.90 million during the quarter, compared to analyst estimates of $141.41 million. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. Intra-Cellular Therapies’s revenue was up 52.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.46) EPS. As a group, research analysts expect that Intra-Cellular Therapies, Inc. will post -0.51 EPS for the current fiscal year.

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.