Brokerages Set Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) PT at $97.23

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have earned an average recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $100.31.

ITCI has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. upped their price target on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Cantor Fitzgerald upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Royal Bank of Canada boosted their price objective on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Piper Sandler restated a “neutral” rating and set a $132.00 target price (up from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ:ITCI opened at $126.20 on Tuesday. Intra-Cellular Therapies has a 52-week low of $62.78 and a 52-week high of $128.00. The company has a market capitalization of $13.38 billion, a P/E ratio of -145.06 and a beta of 0.70. The company has a 50-day simple moving average of $89.99 and a 200 day simple moving average of $81.30.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate 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 company had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. During the same quarter in the prior year, the firm earned ($0.25) earnings per share. Intra-Cellular Therapies’s revenue for the quarter was up 39.0% on a year-over-year basis. As a group, equities analysts forecast that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC bought a new stake in Intra-Cellular Therapies in the third quarter valued at approximately $32,000. GAMMA Investing LLC boosted its stake in shares of Intra-Cellular Therapies by 46.3% in the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 240 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Intra-Cellular Therapies during the third quarter worth $74,000. Wilmington Savings Fund Society FSB bought a new position in Intra-Cellular Therapies during the third quarter worth $97,000. Finally, Quarry LP lifted its holdings in Intra-Cellular Therapies by 260.0% in the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 1,300 shares during the period. 92.33% of the stock is currently owned by institutional investors.

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.