Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Increased to $103.00 by Analysts at Robert W. Baird

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective lifted by Robert W. Baird from $83.00 to $103.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Robert W. Baird’s target price would suggest a potential upside of 31.66% from the company’s previous close.

ITCI has been the subject of a number of other research reports. Canaccord Genuity Group cut their price target on Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $101.00 price target on shares of Intra-Cellular Therapies in a report on Friday, February 23rd. The Goldman Sachs Group lifted their price target on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Finally, Mizuho boosted their target price on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a “buy” rating in a report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.17.

Intra-Cellular Therapies Trading Down 2.0 %

Intra-Cellular Therapies stock traded down $1.61 during midday trading on Wednesday, reaching $78.23. The stock had a trading volume of 1,748,226 shares, compared to its average volume of 852,530. Intra-Cellular Therapies has a 12 month low of $45.50 and a 12 month high of $84.89. The company has a market capitalization of $7.57 billion, a P/E ratio of -53.58 and a beta of 1.02. The company has a fifty day moving average price of $68.95 and a two-hundred day moving average price of $63.53.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. The business had revenue of $132.10 million during the quarter, compared to the consensus estimate of $135.97 million. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The company’s quarterly revenue was up 50.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.45) EPS. On average, equities research analysts predict that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $66.56, for a total transaction of $429,312.00. Following the completion of the sale, the executive vice president now directly owns 16,170 shares in the company, valued at $1,076,275.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Suresh K. Durgam sold 6,450 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $66.56, for a total transaction of $429,312.00. Following the completion of the sale, the executive vice president now directly owns 16,170 shares in the company, valued at $1,076,275.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sharon Mates sold 67,917 shares of the stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $65.19, for a total transaction of $4,427,509.23. Following the sale, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $68,469,643.71. The disclosure for this sale can be found here. Insiders sold a total of 236,404 shares of company stock worth $15,792,460 over the last three months. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

A number of institutional investors have recently modified their holdings of ITCI. Wellington Management Group LLP bought a new position in Intra-Cellular Therapies in the first quarter worth about $248,502,000. Avoro Capital Advisors LLC bought a new position in Intra-Cellular Therapies in the fourth quarter worth about $161,543,000. Norges Bank bought a new position in shares of Intra-Cellular Therapies during the fourth quarter valued at approximately $85,744,000. Vanguard Group Inc. increased its stake in shares of Intra-Cellular Therapies by 13.3% during the first quarter. Vanguard Group Inc. now owns 7,788,469 shares of the biopharmaceutical company’s stock valued at $476,577,000 after purchasing an additional 912,268 shares in the last quarter. Finally, Avidity Partners Management LP bought a new position in shares of Intra-Cellular Therapies during the third quarter valued at approximately $41,729,000. 92.33% of the stock is currently owned by hedge funds and other 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.