Mizuho Increases Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $96.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price boosted by Mizuho from $82.00 to $96.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other brokerages have also weighed in on ITCI. The Goldman Sachs Group increased their price objective on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a neutral rating in a research report on Wednesday, April 17th. Robert W. Baird increased their price objective on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an outperform rating in a research report on Wednesday, April 17th. Royal Bank of Canada reissued an outperform rating and issued a $86.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Bank of America increased their price objective on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Finally, Canaccord Genuity Group dropped their price objective 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. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Intra-Cellular Therapies presently has a consensus rating of Moderate Buy and an average price target of $90.17.

Intra-Cellular Therapies Trading Down 1.2 %

NASDAQ ITCI opened at $73.12 on Monday. The firm’s fifty day moving average price is $69.44 and its two-hundred day moving average price is $64.58. Intra-Cellular Therapies has a 1 year low of $45.50 and a 1 year high of $84.89. The firm has a market capitalization of $7.08 billion, a P/E ratio of -50.08 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.14. The company had revenue of $132.10 million for the quarter, compared to analyst estimates of $135.97 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The company’s revenue was up 50.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.45) earnings per share. On average, research analysts anticipate that Intra-Cellular Therapies will post -0.62 EPS for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 20,565 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the sale, the chief executive officer now directly owns 1,050,309 shares in the company, valued at $68,490,649.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 20,565 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the sale, the chief executive officer now directly owns 1,050,309 shares in the company, valued at $68,490,649.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Halstead sold 7,907 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $69.53, for a total transaction of $549,773.71. Following the sale, the executive vice president now owns 29,700 shares in the company, valued at $2,065,041. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,487 shares of company stock worth $11,364,950. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of large investors have recently bought and sold shares of ITCI. Avoro Capital Advisors LLC acquired a new stake in Intra-Cellular Therapies during the fourth quarter worth about $161,543,000. Norges Bank bought a new position in shares of Intra-Cellular Therapies in the fourth quarter worth about $85,744,000. Avidity Partners Management LP bought a new position in shares of Intra-Cellular Therapies in the third quarter worth about $41,729,000. Polar Capital Holdings Plc lifted its holdings in shares of Intra-Cellular Therapies by 150.0% in the third quarter. Polar Capital Holdings Plc now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $52,090,000 after acquiring an additional 600,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of 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 worth $651,334,000 after acquiring an additional 554,577 shares during the last quarter. 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.