Canaccord Genuity Group Increases Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $107.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target lifted by Canaccord Genuity Group from $100.00 to $107.00 in a research note released on Tuesday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biopharmaceutical company’s stock.

Several other brokerages have also recently issued reports on ITCI. Bank of America lifted their target price on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a buy rating in a report on Wednesday, April 17th. The Goldman Sachs Group lifted 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 note on Wednesday, April 17th. Mizuho lifted their price target on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the stock a buy rating in a research note on Monday, April 22nd. Robert W. Baird lifted their price target on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an outperform rating in a research note on Wednesday, April 17th. Finally, Needham & Company LLC lifted their price target on shares of Intra-Cellular Therapies from $82.00 to $90.00 and gave the stock a buy rating in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Intra-Cellular Therapies currently has an average rating of Moderate Buy and an average price target of $90.17.

Intra-Cellular Therapies Stock Performance

Shares of Intra-Cellular Therapies stock opened at $73.26 on Tuesday. The stock has a market capitalization of $7.09 billion, a PE ratio of -50.18 and a beta of 1.02. Intra-Cellular Therapies has a 52-week low of $45.50 and a 52-week high of $84.89. The company has a 50-day simple moving average of $69.33 and a two-hundred day simple moving average of $64.78.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 50.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.45) earnings per share. As a group, equities research analysts forecast that Intra-Cellular Therapies will post -0.62 EPS for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In related news, EVP Suresh K. Durgam sold 6,450 shares of the company’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 sale, the executive vice president now owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Sharon Mates sold 20,565 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $65.21, for a total value of $1,341,043.65. Following the sale, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $68,490,649.89. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Suresh K. Durgam sold 6,450 shares of the 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 sale, the executive vice president now directly owns 16,170 shares in the company, valued at approximately $1,076,275.20. The disclosure for this sale can be found here. Insiders have sold a total of 168,487 shares of company stock valued at $11,364,950 over the last 90 days. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kapitalo Investimentos Ltda purchased a new stake in shares of Intra-Cellular Therapies in the fourth quarter valued at $26,000. Signaturefd LLC raised its stake in shares of Intra-Cellular Therapies by 85.7% in the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 239 shares during the period. Neo Ivy Capital Management bought a new position in shares of Intra-Cellular Therapies in the third quarter worth about $45,000. Cape Investment Advisory Inc. purchased a new position in Intra-Cellular Therapies in the 4th quarter worth about $78,000. Finally, CI Investments Inc. increased its stake in Intra-Cellular Therapies by 1,191.6% in the 3rd quarter. CI Investments Inc. now owns 1,692 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 1,561 shares during the period. Hedge funds and other institutional investors 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.