UBS Group Cuts Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $79.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target trimmed by UBS Group from $83.00 to $79.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the biopharmaceutical company’s stock.

ITCI has been the topic of a number of other research reports. TD Cowen increased their target price on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Cantor Fitzgerald reissued an overweight rating and set a $120.00 price target on shares of Intra-Cellular Therapies in a research report on Friday, June 14th. The Goldman Sachs Group dropped their price objective on Intra-Cellular Therapies from $77.00 to $74.00 and set a neutral rating for the company in a report on Thursday. Mizuho increased their target price on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a buy rating in a report on Friday, June 21st. Finally, Bank of America boosted their price target on Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $96.73.

Intra-Cellular Therapies Price Performance

ITCI traded down $0.81 during trading on Thursday, hitting $73.61. The stock had a trading volume of 519,549 shares, compared to its average volume of 1,006,532. The company has a 50 day moving average price of $73.54 and a 200-day moving average price of $70.54. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of -63.09 and a beta of 1.01.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. The company had revenue of $161.40 million during the quarter, compared to analysts’ expectations of $157.74 million. During the same quarter in the previous year, the business posted ($0.45) earnings per share. Intra-Cellular Therapies’s quarterly revenue was up 45.7% on a year-over-year basis. As a group, sell-side analysts predict that Intra-Cellular Therapies will post -0.54 EPS for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In related news, Director Nostrand Robert L. Van sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $75.91, for a total value of $1,518,200.00. Following the completion of the transaction, the director now owns 9,690 shares of the company’s stock, valued at approximately $735,567.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Intra-Cellular Therapies news, Director Nostrand Robert L. Van sold 20,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total value of $1,518,200.00. Following the completion of the transaction, the director now owns 9,690 shares of the company’s stock, valued at approximately $735,567.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $75.57, for a total value of $337,193.34. Following the sale, the director now directly owns 116,600 shares in the company, valued at $8,811,462. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Large investors have recently modified their holdings of the company. Avoro Capital Advisors LLC bought a new stake in Intra-Cellular Therapies during the fourth quarter valued at $161,543,000. Norges Bank acquired a new stake in Intra-Cellular Therapies during the fourth quarter worth approximately $85,744,000. Vanguard Group Inc. lifted its stake in Intra-Cellular Therapies by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock valued at $651,334,000 after buying an additional 554,577 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Intra-Cellular Therapies during the 1st quarter worth approximately $18,379,000. Finally, Farallon Capital Management LLC acquired a new stake in shares of Intra-Cellular Therapies during the 1st quarter worth approximately $15,985,000. 92.33% of the stock is currently owned by institutional investors and hedge funds.

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.