The Goldman Sachs Group Boosts Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $77.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective increased by stock analysts at The Goldman Sachs Group from $67.00 to $77.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 0.40% from the stock’s previous close.

ITCI has been the topic of a number of other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $101.00 target price on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. Bank of America lifted their price target on shares of Intra-Cellular Therapies from $74.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Mizuho lifted their price target on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, Canaccord Genuity Group lowered their price target on shares of Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Intra-Cellular Therapies presently has a consensus rating of “Moderate Buy” and an average price target of $86.17.

Intra-Cellular Therapies Stock Down 3.9 %

Shares of ITCI traded down $3.15 during trading hours on Wednesday, reaching $76.69. 2,855,768 shares of the company traded hands, compared to its average volume of 858,626. The company’s fifty day moving average price is $68.95 and its two-hundred day moving average price is $63.53. The company has a market capitalization of $7.42 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.

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

Insider Activity

In other news, EVP Michael Halstead sold 7,907 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $69.53, for a total transaction of $549,773.71. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,065,041. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intra-Cellular Therapies news, EVP Michael Halstead sold 7,907 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $69.53, for a total value of $549,773.71. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at $2,065,041. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Suresh K. Durgam sold 6,450 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total transaction of $429,312.00. Following the completion of the transaction, the executive vice president now owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The disclosure for this sale can be found here. Insiders sold 236,404 shares of company stock valued at $15,792,460 over the last three months. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

Several hedge funds have recently modified their holdings of ITCI. Kapitalo Investimentos Ltda purchased a new position in shares of Intra-Cellular Therapies in the fourth quarter worth $26,000. Lazard Asset Management LLC purchased a new stake in Intra-Cellular Therapies during the second quarter valued at $29,000. Signaturefd LLC raised its stake in Intra-Cellular Therapies by 85.7% during the fourth 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. Neo Ivy Capital Management purchased a new stake in Intra-Cellular Therapies during the third quarter valued at $45,000. Finally, Coppell Advisory Solutions Corp. purchased a new stake in Intra-Cellular Therapies during the fourth quarter valued at $47,000. Hedge funds and other 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.