Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Receives $97.23 Average Price Target from Brokerages

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $97.23.

A number of analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target 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. Royal Bank of Canada lifted their price objective on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their target price for the company from $68.00 to $92.00 in a research note on Friday, September 6th.

Insider Activity at Intra-Cellular Therapies

In related news, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sharon Mates sold 51,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ITCI. True Wealth Design LLC bought a new stake in shares of Intra-Cellular Therapies in the 3rd quarter worth approximately $32,000. Summit Securities Group LLC purchased a new stake in Intra-Cellular Therapies in the second quarter worth $56,000. Capital Performance Advisors LLP bought a new stake in Intra-Cellular Therapies in the third quarter valued at $74,000. Wilmington Savings Fund Society FSB purchased a new position in Intra-Cellular Therapies during the 3rd quarter valued at $97,000. Finally, Quarry LP raised its holdings in Intra-Cellular Therapies by 260.0% in the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock worth $132,000 after purchasing an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Down 0.8 %

Shares of ITCI opened at $83.45 on Friday. The business’s 50-day moving average price is $83.64 and its 200-day moving average price is $77.47. Intra-Cellular Therapies has a twelve month low of $62.78 and a twelve month high of $93.45. The stock has a market cap of $8.85 billion, a PE ratio of -95.92 and a beta of 0.95.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The firm had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. During the same period in the previous year, the company posted ($0.25) EPS. The company’s revenue for the quarter was up 39.0% compared to the same quarter last year. Analysts expect that Intra-Cellular Therapies will post -0.64 earnings per share 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.