The Goldman Sachs Group Boosts Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $77.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective increased by equities researchers at The Goldman Sachs Group from $67.00 to $77.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 0.40% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Bank of America lifted their price target on shares of Intra-Cellular Therapies from $74.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada restated an “outperform” rating and set a $86.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Robert W. Baird began coverage on shares of Intra-Cellular Therapies in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $83.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and set a $101.00 price objective on shares of Intra-Cellular Therapies in a research report on Friday, February 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $82.00 price objective on shares of Intra-Cellular Therapies in a research report on Tuesday. Two research 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 an average rating of “Moderate Buy” and an average price target of $86.17.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ ITCI traded down $3.15 during midday trading on Wednesday, reaching $76.69. The company’s stock had a trading volume of 2,855,768 shares, compared to its average volume of 858,626. Intra-Cellular Therapies has a fifty-two week low of $45.50 and a fifty-two week high of $84.89. The business’s 50 day moving average price is $68.95 and its two-hundred day moving average price is $63.53. The company has a market cap of $7.42 billion, a P/E ratio of -53.58 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $132.10 million during the quarter, compared to the consensus estimate of $135.97 million. During the same period in the previous year, the business earned ($0.45) earnings per share. The firm’s quarterly revenue was up 50.3% on a year-over-year basis. Sell-side analysts forecast that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related 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 value of $429,312.00. Following the sale, the executive vice president now owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Sharon Mates sold 67,917 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $65.19, for a total value of $4,427,509.23. Following the transaction, the chief executive officer now owns 1,050,309 shares in the company, valued at $68,469,643.71. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 completion of the transaction, the executive vice president now owns 16,170 shares in the company, valued at approximately $1,076,275.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 236,404 shares of company stock valued at $15,792,460. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kapitalo Investimentos Ltda acquired a new position in Intra-Cellular Therapies in the fourth quarter valued at $26,000. Lazard Asset Management LLC acquired a new position in shares of Intra-Cellular Therapies during the second quarter valued at about $29,000. Signaturefd LLC raised its holdings in shares of Intra-Cellular Therapies by 85.7% during the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 239 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Intra-Cellular Therapies during the fourth quarter valued at about $51,000. Finally, State of Wyoming raised its holdings in shares of Intra-Cellular Therapies by 57.9% during the second quarter. State of Wyoming now owns 851 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 312 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.

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.