JPMorgan Chase & Co. Issues Positive Forecast for Intra-Cellular Therapies (NASDAQ:ITCI) Stock Price

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price increased by JPMorgan Chase & Co. from $81.00 to $89.00 in a report released on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biopharmaceutical company’s stock.

ITCI has been the topic of several other research reports. UBS Group cut 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. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, October 30th. Morgan Stanley increased their target price on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 11th. The Goldman Sachs Group cut their price target on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.23.

Intra-Cellular Therapies Stock Down 0.4 %

Shares of ITCI opened at $86.17 on Monday. The business’s fifty day moving average is $75.41 and its 200 day moving average is $73.31. Intra-Cellular Therapies has a 12-month low of $52.88 and a 12-month high of $88.00. The stock has a market cap of $9.14 billion, a P/E ratio of -99.05 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. During the same period last year, the business posted ($0.25) earnings per share. The firm’s quarterly revenue was up 39.0% on a year-over-year basis. On average, analysts expect that Intra-Cellular Therapies will post -0.61 EPS for the current year.

Insider Transactions at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,229,876. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sharon Mates sold 34,396 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $72.84, for a total value of $2,505,404.64. Following the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $77,962,764.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 175,316 shares of company stock worth $13,037,345. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in Intra-Cellular Therapies during the first quarter valued at approximately $32,000. Fidelis Capital Partners LLC bought a new position in Intra-Cellular Therapies in the 1st quarter valued at $53,000. Summit Securities Group LLC purchased a new position in shares of Intra-Cellular Therapies during the 2nd quarter valued at $56,000. Capital Performance Advisors LLP bought a new position in shares of Intra-Cellular Therapies in the third quarter worth $74,000. Finally, CWM LLC raised its position in shares of Intra-Cellular Therapies by 83.9% in the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 626 shares in the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

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.