Needham & Company LLC Raises Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $94.00

Intra-Cellular Therapies (NASDAQ:ITCIFree Report) had its target price hoisted by Needham & Company LLC from $90.00 to $94.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

ITCI has been the subject of several other reports. TD Cowen lifted their price objective on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $120.00 target price on shares of Intra-Cellular Therapies in a report on Friday, June 14th. JPMorgan Chase & Co. boosted their price target on Intra-Cellular Therapies from $75.00 to $78.00 and gave the stock an overweight rating in a research note on Wednesday, June 12th. The Goldman Sachs Group lifted their price target on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a neutral rating in a research note on Wednesday, April 17th. Finally, Mizuho raised their price target on Intra-Cellular Therapies from $82.00 to $96.00 and gave the stock a buy rating in a research report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Intra-Cellular Therapies has a consensus rating of Moderate Buy and an average target price of $92.33.

View Our Latest Report on Intra-Cellular Therapies

Intra-Cellular Therapies Stock Performance

ITCI opened at $75.55 on Tuesday. The stock has a market capitalization of $7.98 billion, a P/E ratio of -65.13 and a beta of 0.97. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89. The business’s 50-day simple moving average is $69.32 and its 200-day simple moving average is $68.55.

Intra-Cellular Therapies (NASDAQ:ITCIGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.15. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The firm had revenue of $144.90 million for the quarter, compared to analysts’ expectations of $141.41 million. During the same quarter in the previous year, the firm posted ($0.46) EPS. The firm’s revenue for the quarter was up 52.0% on a year-over-year basis. On average, equities research analysts forecast that Intra-Cellular Therapies will post -0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kapitalo Investimentos Ltda purchased a new stake in shares of Intra-Cellular Therapies during the 4th quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in Intra-Cellular Therapies during the first quarter valued at $32,000. Signaturefd LLC lifted its holdings in shares of Intra-Cellular Therapies by 85.7% in the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 239 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Intra-Cellular Therapies in the 3rd quarter worth about $45,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Intra-Cellular Therapies during the first quarter worth approximately $53,000. 92.33% of the stock is owned by institutional investors and hedge funds.

About Intra-Cellular Therapies

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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.

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