TD Cowen Increases Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $90.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price increased by analysts at TD Cowen from $80.00 to $90.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s price objective points to a potential upside of 15.05% from the stock’s current price.

Several other research analysts also recently weighed in on the company. Mizuho upped their target price on Intra-Cellular Therapies from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Needham & Company LLC reissued a “buy” rating and issued a $82.00 price objective on shares of Intra-Cellular Therapies in a research note on Tuesday. Bank of America raised their price objective on Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday. The Goldman Sachs Group upped their target price on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Robert W. Baird upped their price objective on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.17.

Intra-Cellular Therapies Trading Down 2.0 %

Intra-Cellular Therapies stock traded down $1.61 during mid-day trading on Wednesday, hitting $78.23. The company had a trading volume of 1,748,226 shares, compared to its average volume of 852,530. The company has a market capitalization of $7.57 billion, a price-to-earnings ratio of -53.58 and a beta of 1.02. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89. The company’s fifty day moving average is $68.95 and its 200-day moving average is $63.53.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The firm had revenue of $132.10 million for the quarter, compared to the consensus estimate of $135.97 million. During the same period in the prior year, the firm posted ($0.45) earnings per share. The firm’s quarterly revenue was up 50.3% compared to the same quarter last year. As a group, sell-side analysts expect that Intra-Cellular Therapies will post -0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Suresh K. Durgam sold 6,450 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total value of $429,312.00. Following the transaction, the executive vice president now owns 16,170 shares of the company’s stock, valued at approximately $1,076,275.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Sharon Mates sold 67,917 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $65.19, for a total transaction of $4,427,509.23. Following the completion of the transaction, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $68,469,643.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Suresh K. Durgam sold 6,450 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $66.56, for a total transaction of $429,312.00. Following the sale, the executive vice president now owns 16,170 shares in the company, valued at $1,076,275.20. The disclosure for this sale can be found here. Insiders sold a total of 236,404 shares of company stock valued at $15,792,460 over the last quarter. 3.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Several institutional investors have recently modified their holdings of the business. Kapitalo Investimentos Ltda acquired a new stake in shares of Intra-Cellular Therapies in the fourth quarter valued at $26,000. Lazard Asset Management LLC purchased a new stake in Intra-Cellular Therapies during the 2nd quarter worth about $29,000. Signaturefd LLC raised 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 purchasing an additional 239 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Intra-Cellular Therapies in the 4th quarter valued at about $51,000. Finally, State of Wyoming grew its position in shares of Intra-Cellular Therapies by 57.9% during the second quarter. State of Wyoming now owns 851 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 312 shares in the last quarter. Institutional investors and hedge funds 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.