Intra-Cellular Therapies (NASDAQ:ITCI) Given New $91.00 Price Target at Bank of America

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price hoisted by Bank of America from $82.00 to $91.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently commented on the stock. Royal Bank of Canada reissued an outperform rating and issued a $86.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. The Goldman Sachs Group boosted their price target on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a neutral rating in a research report on Wednesday. Canaccord Genuity Group reduced their price target on shares of Intra-Cellular Therapies from $101.00 to $100.00 and set a buy rating on the stock in a research report on Friday, February 23rd. Robert W. Baird assumed coverage on shares of Intra-Cellular Therapies in a research report on Wednesday, January 3rd. They issued an outperform rating and a $83.00 price target on the stock. Finally, Mizuho boosted their price target on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the stock a buy rating in a research report on Friday, February 16th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $86.17.

Intra-Cellular Therapies Price Performance

ITCI stock opened at $72.37 on Wednesday. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89. The company’s fifty day moving average price is $69.31 and its 200-day moving average price is $63.87.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.14. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The firm had revenue of $132.10 million for the quarter, compared to the consensus estimate of $135.97 million. During the same quarter in the previous year, the firm earned ($0.45) earnings per share. The company’s quarterly revenue was up 50.3% compared to the same quarter last year. As a group, analysts anticipate that Intra-Cellular Therapies will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, EVP Michael Halstead sold 7,907 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.53, for a total transaction of $549,773.71. Following the transaction, the executive vice president now owns 29,700 shares in the company, valued at $2,065,041. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $66.56, for a total transaction of $429,312.00. Following the transaction, the executive vice president now owns 16,170 shares in the company, valued at $1,076,275.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Halstead sold 7,907 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.53, for a total transaction of $549,773.71. Following the transaction, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,065,041. The disclosure for this sale can be found here. Insiders have sold 168,487 shares of company stock worth $11,364,950 over the last quarter. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Kapitalo Investimentos Ltda bought a new position in shares of Intra-Cellular Therapies in the fourth quarter worth about $26,000. Lazard Asset Management LLC purchased a new stake in Intra-Cellular Therapies in the second quarter worth about $29,000. Signaturefd LLC lifted its stake in Intra-Cellular Therapies by 85.7% in the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 239 shares during the period. International Assets Investment Management LLC purchased a new stake in Intra-Cellular Therapies in the fourth quarter worth about $51,000. Finally, State of Wyoming lifted its stake in Intra-Cellular Therapies by 57.9% in the second quarter. State of Wyoming now owns 851 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 312 shares during the period. 92.33% of the stock is currently owned by institutional investors.

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.