Royal Bank of Canada Raises Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $108.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target lifted by Royal Bank of Canada from $106.00 to $108.00 in a research note released on Friday, Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

Other research analysts have also issued reports about the company. Cantor Fitzgerald reissued an overweight rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a report on Monday, September 16th. UBS Group dropped their target price on Intra-Cellular Therapies from $83.00 to $79.00 and set a neutral rating on the stock in a research report on Thursday, August 8th. Canaccord Genuity Group lifted their target price on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a buy rating in a research report on Thursday, June 20th. Needham & Company LLC reiterated a buy rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group dropped their price objective on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a neutral rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $96.75.

Intra-Cellular Therapies Trading Down 2.3 %

ITCI stock opened at $71.19 on Friday. Intra-Cellular Therapies has a 12 month low of $45.50 and a 12 month high of $84.89. The company has a 50-day moving average price of $74.71 and a 200 day moving average price of $72.09. The stock has a market cap of $7.52 billion, a PE ratio of -61.37 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.03. The firm had revenue of $161.40 million during the quarter, compared to the consensus estimate of $157.74 million. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The firm’s quarterly revenue was up 45.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.45) earnings per share. Sell-side analysts forecast that Intra-Cellular Therapies will post -0.59 EPS for the current year.

Insider Transactions at Intra-Cellular Therapies

In related news, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the sale, the executive vice president now owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at $2,229,876. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sharon Mates sold 53,013 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $80,970,388.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 175,316 shares of company stock valued at $13,037,345 in the last quarter. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Intra-Cellular Therapies

Several large investors have recently added to or reduced their stakes in ITCI. Schroder Investment Management Group lifted its position in Intra-Cellular Therapies by 36.7% during the 4th quarter. Schroder Investment Management Group now owns 779,823 shares of the biopharmaceutical company’s stock worth $55,851,000 after acquiring an additional 209,331 shares in the last quarter. Regal Investment Advisors LLC increased its stake in Intra-Cellular Therapies by 6.5% during the 4th quarter. Regal Investment Advisors LLC now owns 14,501 shares of the biopharmaceutical company’s stock worth $1,039,000 after buying an additional 891 shares during the period. Lighthouse Investment Partners LLC purchased a new stake in Intra-Cellular Therapies during the 4th quarter worth $4,473,000. Avoro Capital Advisors LLC acquired a new position in Intra-Cellular Therapies in the 4th quarter worth $161,543,000. Finally, Parkman Healthcare Partners LLC purchased a new position in Intra-Cellular Therapies in the 4th quarter valued at about $13,341,000. 92.33% of the stock is currently owned by institutional investors and hedge funds.

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.