Analysts Set Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Target Price at $97.23

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $100.31.

A number of equities research analysts recently issued reports on the company. Morgan Stanley increased their price objective 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 increased their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. increased their price objective on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Baird R W downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Needham & Company LLC restated a “hold” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Monday.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI opened at $126.26 on Tuesday. The company has a market cap of $13.39 billion, a P/E ratio of -145.12 and a beta of 0.70. The stock’s fifty day moving average price is $88.60 and its two-hundred day moving average price is $80.33. Intra-Cellular Therapies has a 1 year low of $62.78 and a 1 year high of $128.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) 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 company had revenue of $175.40 million for the quarter, compared to analysts’ expectations of $172.30 million. During the same quarter in the prior year, the company earned ($0.25) EPS. The company’s revenue was up 39.0% on a year-over-year basis. On average, analysts expect that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael Halstead sold 22,869 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was 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. Insiders own 2.60% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Several large investors have recently modified their holdings of ITCI. True Wealth Design LLC bought a new stake in shares of Intra-Cellular Therapies in the third quarter worth about $32,000. GAMMA Investing LLC grew its stake in shares of Intra-Cellular Therapies by 46.3% in the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 240 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Intra-Cellular Therapies in the third quarter worth about $74,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Intra-Cellular Therapies in the third quarter worth about $97,000. Finally, Quarry LP boosted its position in Intra-Cellular Therapies by 260.0% during the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after acquiring an additional 1,300 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.