Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Cut to $74.00 by Analysts at The Goldman Sachs Group

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target reduced by The Goldman Sachs Group from $77.00 to $74.00 in a research report report published on Thursday, Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the company. Canaccord Genuity Group raised their target price on Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a buy rating in a research report on Thursday, June 20th. Cantor Fitzgerald reissued an overweight rating and set a $120.00 price objective on shares of Intra-Cellular Therapies in a report on Friday, June 14th. TD Cowen upped their target price on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a buy rating in a report on Wednesday, April 17th. Robert W. Baird increased their target price on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an outperform rating in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $103.00 target price on shares of Intra-Cellular Therapies in a research report on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $96.73.

Intra-Cellular Therapies Stock Performance

Shares of ITCI stock opened at $73.61 on Thursday. Intra-Cellular Therapies has a fifty-two week low of $45.50 and a fifty-two week high of $84.89. The company has a 50 day moving average price of $73.67 and a 200 day moving average price of $70.58. The stock has a market capitalization of $7.77 billion, a P/E ratio of -63.46 and a beta of 1.01.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.03. The business had revenue of $161.40 million during the quarter, compared to analysts’ expectations of $157.74 million. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The business’s quarterly revenue was up 45.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.45) EPS. On average, research analysts forecast that Intra-Cellular Therapies will post -0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $75.57, for a total value of $337,193.34. Following the sale, the director now owns 116,600 shares of the company’s stock, valued at $8,811,462. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Intra-Cellular Therapies news, Director Nostrand Robert L. Van sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 9,690 shares in the company, valued at $735,567.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $75.57, for a total transaction of $337,193.34. Following the sale, the director now owns 116,600 shares of the company’s stock, valued at $8,811,462. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of institutional investors and hedge funds have recently modified their holdings of ITCI. Kapitalo Investimentos Ltda purchased a new stake in Intra-Cellular Therapies during the fourth quarter worth $26,000. Headlands Technologies LLC purchased a new position in shares of Intra-Cellular Therapies in the first quarter valued at $32,000. Signaturefd LLC raised its stake in shares of 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 last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Intra-Cellular Therapies in the 1st quarter worth about $53,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Intra-Cellular Therapies in the 2nd quarter worth about $56,000. 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.