JPMorgan Chase & Co. Raises Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $89.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective increased by JPMorgan Chase & Co. from $81.00 to $89.00 in a research report report published on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other analysts also recently weighed in on ITCI. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Morgan Stanley boosted their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. The Goldman Sachs Group reduced their target price on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $68.00 to $92.00 in a research note on Friday, September 6th. Finally, Royal Bank of Canada raised their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.23.

Intra-Cellular Therapies Price Performance

ITCI stock opened at $86.17 on Monday. The firm has a 50 day simple moving average of $75.41 and a two-hundred day simple moving average of $73.31. The stock has a market cap of $9.14 billion, a PE ratio of -99.05 and a beta of 0.97. Intra-Cellular Therapies has a one year low of $52.88 and a one year high of $88.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The firm had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. During the same period in the prior year, the company earned ($0.25) EPS. The firm’s revenue was up 39.0% compared to the same quarter last year. On average, research analysts expect that Intra-Cellular Therapies will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Sharon Mates sold 34,396 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,316 shares of company stock valued at $13,037,345 over the last ninety days. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of large investors have recently modified their holdings of the stock. Entropy Technologies LP purchased a new stake in Intra-Cellular Therapies in the third quarter worth about $521,000. Versor Investments LP bought a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth approximately $257,000. State of New Jersey Common Pension Fund D raised its position in shares of Intra-Cellular Therapies by 0.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 35,673 shares of the biopharmaceutical company’s stock worth $2,610,000 after acquiring an additional 223 shares in the last quarter. TimesSquare Capital Management LLC lifted its stake in shares of Intra-Cellular Therapies by 6.5% in the 3rd quarter. TimesSquare Capital Management LLC now owns 438,083 shares of the biopharmaceutical company’s stock valued at $32,055,000 after purchasing an additional 26,600 shares during the period. Finally, Covestor Ltd boosted its position in shares of Intra-Cellular Therapies by 40.4% during the third quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 521 shares in the last quarter. 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.