Morgan Stanley Raises Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $95.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target lifted by Morgan Stanley from $92.00 to $95.00 in a report released on Friday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other research analysts have also commented on ITCI. Royal Bank of Canada upped their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an outperform rating in a report on Friday, October 4th. Needham & Company LLC reiterated a buy rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, August 7th. 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. Piper Sandler upgraded Intra-Cellular Therapies from a neutral rating to an overweight rating and boosted their price target for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Finally, UBS Group lowered their price objective on Intra-Cellular Therapies from $83.00 to $79.00 and set a neutral rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $96.62.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ:ITCI opened at $73.84 on Friday. Intra-Cellular Therapies has a 52-week low of $45.50 and a 52-week high of $84.89. The company has a market capitalization of $7.80 billion, a P/E ratio of -63.66 and a beta of 1.00. The company has a 50-day simple moving average of $74.35 and a 200 day simple moving average of $72.24.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping 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 company had revenue of $161.40 million during the quarter, compared to the consensus estimate of $157.74 million. During the same period in the previous year, the company posted ($0.45) EPS. The firm’s revenue for the quarter was up 45.7% compared to the same quarter last year. As a group, equities analysts forecast that Intra-Cellular Therapies will post -0.59 earnings per share for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 53,013 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total value of $4,010,433.45. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $80,970,388.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 transaction of $1,405,047.12. Following the sale, the executive vice president now owns 29,700 shares in the company, valued at $2,229,876. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sharon Mates sold 53,013 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total value of $4,010,433.45. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $80,970,388.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 175,316 shares of company stock worth $13,037,345 over the last 90 days. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ITCI. Kapitalo Investimentos Ltda bought a new stake in Intra-Cellular Therapies during the 4th quarter worth approximately $26,000. Headlands Technologies LLC acquired a new stake in Intra-Cellular Therapies in the first quarter valued at $32,000. Fidelis Capital Partners LLC acquired a new stake in Intra-Cellular Therapies in the first quarter valued at $53,000. Summit Securities Group LLC bought a new position in Intra-Cellular Therapies during the 2nd quarter worth $56,000. Finally, CWM LLC lifted its holdings in Intra-Cellular Therapies by 83.9% during the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 626 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.

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.