Royal Bank of Canada Reiterates Sector Perform Rating for Intra-Cellular Therapies (NASDAQ:ITCI)

Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “sector perform” rating reaffirmed by stock analysts at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $132.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $108.00. Royal Bank of Canada’s target price would indicate a potential upside of 3.88% from the stock’s previous close.

A number of other equities analysts also recently weighed in on ITCI. Leerink Partnrs downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Needham & Company LLC reissued a “hold” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, January 13th. Morgan Stanley increased their target price on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Cantor Fitzgerald raised shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Piper Sandler reissued a “neutral” rating and set a $132.00 target price (up from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Intra-Cellular Therapies currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.15.

Intra-Cellular Therapies Stock Down 0.1 %

Shares of NASDAQ:ITCI opened at $127.07 on Wednesday. The company’s fifty day moving average is $91.53 and its two-hundred day moving average is $82.02. Intra-Cellular Therapies has a 12-month low of $62.78 and a 12-month high of $128.00. The company has a market cap of $13.47 billion, a P/E ratio of -146.06 and a beta of 0.70.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results 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 return on equity of 9.93% and a negative net margin of 14.07%. The company had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. During the same period last year, the company posted ($0.25) earnings per share. The company’s revenue was up 39.0% compared to the same quarter last year. Equities research analysts anticipate that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 51,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael Halstead sold 22,869 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC bought a new stake in shares of Intra-Cellular Therapies in the third quarter valued at about $32,000. GAMMA Investing LLC raised its position in Intra-Cellular Therapies by 46.3% in the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 240 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Intra-Cellular Therapies in the third quarter worth about $74,000. Wilmington Savings Fund Society FSB acquired a new position in Intra-Cellular Therapies in the third quarter worth about $97,000. Finally, Quarry LP raised its position in Intra-Cellular Therapies by 260.0% in the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock worth $132,000 after purchasing an additional 1,300 shares in the last quarter. 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.