Royal Bank of Canada Trims Intra-Cellular Therapies (NASDAQ:ITCI) Target Price to $106.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price trimmed by Royal Bank of Canada from $107.00 to $106.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group increased their target price on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a buy rating in a research report on Thursday, June 20th. Needham & Company LLC reiterated a buy rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday. Mizuho boosted their target price on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a buy rating in a report on Friday, June 21st. JPMorgan Chase & Co. upped their price target on Intra-Cellular Therapies from $75.00 to $78.00 and gave the company an overweight rating in a research report on Wednesday, June 12th. Finally, UBS Group reduced their price objective on Intra-Cellular Therapies from $83.00 to $79.00 and set a neutral rating on the stock in a research report on Thursday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $96.73.

Intra-Cellular Therapies Trading Down 1.1 %

NASDAQ:ITCI traded down $0.81 during trading hours on Thursday, hitting $73.61. 519,549 shares of the stock were exchanged, compared to its average volume of 1,006,532. The firm’s fifty day moving average price is $73.54 and its 200 day moving average price is $70.54. Intra-Cellular Therapies has a 52-week low of $45.50 and a 52-week high of $84.89. The company has a market cap of $7.77 billion, a P/E ratio of -63.09 and a beta of 1.01.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The firm had revenue of $161.40 million for the quarter, compared to analyst estimates of $157.74 million. During the same period in the previous year, the company posted ($0.45) earnings per share. The business’s revenue was up 45.7% on a year-over-year basis. Equities analysts expect that Intra-Cellular Therapies will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, Director Rory B. Riggs sold 4,462 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the transaction, the director now owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Nostrand Robert L. Van sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the completion of the transaction, the director now owns 9,690 shares of the company’s stock, valued at approximately $735,567.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rory B. Riggs sold 4,462 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $75.57, for a total value of $337,193.34. Following the completion of the sale, the director now directly owns 116,600 shares in the company, valued at approximately $8,811,462. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several institutional investors and hedge funds have recently modified their holdings of ITCI. Xponance Inc. boosted its holdings in Intra-Cellular Therapies by 3.0% during the 4th quarter. Xponance Inc. now owns 5,676 shares of the biopharmaceutical company’s stock valued at $407,000 after acquiring an additional 163 shares during the period. EFG Asset Management North America Corp. boosted its stake in shares of Intra-Cellular Therapies by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 34,452 shares of the biopharmaceutical company’s stock valued at $2,357,000 after purchasing an additional 163 shares during the period. Bailard Inc. grew its holdings in shares of Intra-Cellular Therapies by 1.2% in the fourth quarter. Bailard Inc. now owns 17,080 shares of the biopharmaceutical company’s stock valued at $1,223,000 after purchasing an additional 200 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Intra-Cellular Therapies by 16.3% in the fourth quarter. Parallel Advisors LLC now owns 1,564 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 219 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Intra-Cellular Therapies by 85.7% during the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 239 shares during the period. Hedge funds and other institutional investors own 92.33% of the company’s stock.

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.