JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Intra-Cellular Therapies (NASDAQ:ITCI) Stock

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $81.00 to $89.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 0.27% from the stock’s previous close.

A number of other equities analysts also recently commented on ITCI. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. UBS Group decreased their target price on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. The Goldman Sachs Group decreased their target price on 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, Morgan Stanley lifted their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.23.

Intra-Cellular Therapies Stock Performance

NASDAQ:ITCI opened at $89.24 on Monday. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of -102.57 and a beta of 0.97. Intra-Cellular Therapies has a one year low of $52.88 and a one year high of $89.44. The stock has a 50-day simple moving average of $75.72 and a 200 day simple moving average of $73.42.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The firm had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The firm’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.25) earnings per share. On average, equities research analysts forecast that Intra-Cellular Therapies will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,229,876. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at $2,229,876. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 175,316 shares of company stock valued at $13,037,345 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. MQS Management LLC bought a new position in shares of Intra-Cellular Therapies in the third quarter valued at $269,000. Aigen Investment Management LP increased its holdings in shares of Intra-Cellular Therapies by 91.3% in the third quarter. Aigen Investment Management LP now owns 14,890 shares of the biopharmaceutical company’s stock valued at $1,090,000 after buying an additional 7,105 shares in the last quarter. Entropy Technologies LP purchased a new position in Intra-Cellular Therapies during the 3rd quarter worth approximately $521,000. Versor Investments LP purchased a new position in Intra-Cellular Therapies during the 3rd quarter worth approximately $257,000. Finally, State of New Jersey Common Pension Fund D grew its position in Intra-Cellular Therapies by 0.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 35,673 shares of the biopharmaceutical company’s stock worth $2,610,000 after purchasing an additional 223 shares in the last quarter. Institutional investors 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.