Intra-Cellular Therapies (NASDAQ:ITCI) Upgraded by Cantor Fitzgerald to Strong-Buy Rating

Cantor Fitzgerald upgraded shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Morgan Stanley boosted their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Royal Bank of Canada boosted their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. JPMorgan Chase & Co. raised their target price on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Baird R W cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Piper Sandler reissued a “neutral” rating and issued a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Intra-Cellular Therapies has a consensus rating of “Moderate Buy” and an average price target of $100.31.

Intra-Cellular Therapies Trading Down 0.2 %

Shares of Intra-Cellular Therapies stock opened at $126.89 on Tuesday. The company’s 50-day moving average price is $87.14 and its 200-day moving average price is $79.68. The company has a market cap of $13.45 billion, a price-to-earnings ratio of -145.85 and a beta of 0.70. Intra-Cellular Therapies has a 12-month low of $62.78 and a 12-month high of $128.00.

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

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Michael Halstead sold 22,869 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently modified their holdings of ITCI. Avior Wealth Management LLC grew its stake in shares of Intra-Cellular Therapies by 3.0% in the third quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company’s stock worth $327,000 after purchasing an additional 131 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Intra-Cellular Therapies by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company’s stock worth $748,000 after buying an additional 141 shares during the last quarter. Pallas Capital Advisors LLC increased its stake in shares of Intra-Cellular Therapies by 6.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock valued at $266,000 after buying an additional 192 shares during the period. Assetmark Inc. raised its holdings in shares of Intra-Cellular Therapies by 9.1% during the third quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock valued at $181,000 after acquiring an additional 207 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Intra-Cellular Therapies by 0.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 35,673 shares of the biopharmaceutical company’s stock valued at $2,610,000 after acquiring an additional 223 shares in the last quarter. 92.33% of the stock is owned by institutional investors.

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.