Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Increased to $103.00 by Analysts at Robert W. Baird

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective upped by Robert W. Baird from $83.00 to $103.00 in a report released on Wednesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the biopharmaceutical company’s stock.

Several other research firms also recently commented on ITCI. The Goldman Sachs Group increased their target price on Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a neutral rating in a research report on Wednesday. Needham & Company LLC reiterated a buy rating and issued a $82.00 price objective on shares of Intra-Cellular Therapies in a report on Tuesday. Royal Bank of Canada reiterated an outperform rating and set a $86.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Mizuho upped their price target on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a buy rating in a research report on Friday, February 16th. Finally, Bank of America raised their price target on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a buy rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $86.17.

Intra-Cellular Therapies Trading Down 3.9 %

Shares of NASDAQ ITCI opened at $76.69 on Wednesday. The company has a market cap of $7.42 billion, a price-to-earnings ratio of -52.53 and a beta of 1.02. Intra-Cellular Therapies has a 12 month low of $45.50 and a 12 month high of $84.89. The stock has a 50-day moving average price of $69.14 and a two-hundred day moving average price of $63.73.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The business had revenue of $132.10 million during the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 50.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.45) EPS. On average, sell-side analysts predict that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Joel S. Marcus sold 26,328 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $68.68, for a total value of $1,808,207.04. Following the transaction, the director now directly owns 39,662 shares of the company’s stock, valued at approximately $2,723,986.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intra-Cellular Therapies news, EVP Michael Halstead sold 7,907 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.53, for a total value of $549,773.71. Following the completion of the sale, the executive vice president now directly owns 29,700 shares in the company, valued at $2,065,041. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joel S. Marcus sold 26,328 shares of Intra-Cellular Therapies stock in a transaction on Monday, February 26th. The shares were sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the completion of the sale, the director now directly owns 39,662 shares of the company’s stock, valued at $2,723,986.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,487 shares of company stock worth $11,364,950. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Several large investors have recently made changes to their positions in the company. HealthInvest Partners AB acquired a new stake in Intra-Cellular Therapies in the fourth quarter valued at approximately $877,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in Intra-Cellular Therapies by 209.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 154,700 shares of the biopharmaceutical company’s stock valued at $8,058,000 after purchasing an additional 104,700 shares during the period. Phocas Financial Corp. bought a new stake in Intra-Cellular Therapies during the 4th quarter valued at $1,949,000. Charles Schwab Investment Management Inc. raised its holdings in Intra-Cellular Therapies by 36.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 974,914 shares of the biopharmaceutical company’s stock worth $50,783,000 after buying an additional 259,424 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Intra-Cellular Therapies by 5.1% in the third quarter. American Century Companies Inc. now owns 441,410 shares of the biopharmaceutical company’s stock valued at $22,993,000 after buying an additional 21,604 shares in the last quarter. 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.