Intra-Cellular Therapies (NASDAQ:ITCI) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research report released on Monday, Benzinga reports. The brokerage currently has a $130.00 price target on the biopharmaceutical company’s stock.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a buy rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, August 7th. Piper Sandler upgraded shares of Intra-Cellular Therapies from a neutral rating to an overweight rating and increased their price target for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Royal Bank of Canada cut their price target on shares of Intra-Cellular Therapies from $107.00 to $106.00 and set an outperform rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group cut their price target on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a neutral rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an overweight rating in a research note on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $96.58.

Intra-Cellular Therapies Stock Down 0.2 %

Shares of ITCI stock opened at $75.26 on Monday. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of -64.88 and a beta of 1.00. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89. The firm has a fifty day moving average of $75.74 and a 200-day moving average of $71.28.

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

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, Director Rory B. Riggs sold 4,462 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $75.57, for a total transaction of $337,193.34. Following the transaction, the director now directly owns 116,600 shares in the company, valued at $8,811,462. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the completion of the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at $2,229,876. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rory B. Riggs sold 4,462 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $75.57, for a total value of $337,193.34. Following the transaction, the director now directly owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The disclosure for this sale can be found here. Insiders have sold 179,778 shares of company stock valued at $13,374,538 over the last three months. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Intra-Cellular Therapies by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 9,225,981 shares of the biopharmaceutical company’s stock valued at $638,438,000 after purchasing an additional 131,679 shares during the period. Wasatch Advisors LP raised its holdings in shares of Intra-Cellular Therapies by 6.3% during the 1st quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock worth $266,748,000 after acquiring an additional 227,439 shares in the last quarter. Avoro Capital Advisors LLC raised its holdings in shares of Intra-Cellular Therapies by 21.2% during the 2nd quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock worth $205,470,000 after acquiring an additional 525,000 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Intra-Cellular Therapies by 12.3% during the 1st quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock worth $120,723,000 after acquiring an additional 191,416 shares in the last quarter. Finally, Perceptive Advisors LLC raised its holdings in shares of Intra-Cellular Therapies by 62.6% during the 2nd quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock worth $117,557,000 after acquiring an additional 661,052 shares in the last quarter. 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.