Intra-Cellular Therapies (NASDAQ:ITCI) PT Raised to $103.00 at Robert W. Baird

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price boosted by equities research analysts at Robert W. Baird from $83.00 to $103.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Robert W. Baird’s target price suggests a potential upside of 31.66% from the company’s current price.

Other analysts also recently issued reports about the company. Canaccord Genuity Group cut their price objective on Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $101.00 price target on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. Bank of America increased their price objective on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $82.00 target price on shares of Intra-Cellular Therapies in a report on Tuesday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Intra-Cellular Therapies has an average rating of “Moderate Buy” and a consensus target price of $86.17.

Intra-Cellular Therapies Stock Down 2.0 %

Shares of NASDAQ:ITCI traded down $1.61 during midday trading on Wednesday, reaching $78.23. The company’s stock had a trading volume of 1,748,226 shares, compared to its average volume of 852,530. The stock has a fifty day moving average of $68.95 and a 200 day moving average of $63.53. The firm has a market capitalization of $7.57 billion, a PE ratio of -53.58 and a beta of 1.02. Intra-Cellular Therapies has a twelve month low of $45.50 and a twelve month high of $84.89.

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

Insider Buying and Selling

In related news, CEO Sharon Mates sold 67,917 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $65.19, for a total transaction of $4,427,509.23. Following the completion of the transaction, the chief executive officer now owns 1,050,309 shares in the company, valued at $68,469,643.71. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Sharon Mates sold 67,917 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $65.19, for a total value of $4,427,509.23. Following the completion of the sale, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at $68,469,643.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 of the company’s stock, valued at $1,076,275.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 236,404 shares of company stock worth $15,792,460. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Xponance Inc. raised its holdings in Intra-Cellular Therapies by 3.0% during the fourth quarter. Xponance Inc. now owns 5,676 shares of the biopharmaceutical company’s stock worth $407,000 after purchasing an additional 163 shares in the last quarter. Regal Investment Advisors LLC increased its holdings in Intra-Cellular Therapies by 1.4% in the third quarter. Regal Investment Advisors LLC now owns 13,610 shares of the biopharmaceutical company’s stock valued at $709,000 after buying an additional 186 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Intra-Cellular Therapies by 0.8% in the third quarter. State Board of Administration of Florida Retirement System now owns 26,796 shares of the biopharmaceutical company’s stock valued at $1,396,000 after buying an additional 200 shares in the last quarter. Bailard Inc. increased its holdings in 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 buying an additional 200 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in Intra-Cellular Therapies by 13.8% in the third quarter. Global Retirement Partners LLC now owns 1,753 shares of the biopharmaceutical company’s stock valued at $89,000 after buying an additional 213 shares in the last quarter. 92.33% of the stock is 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.