Intra-Cellular Therapies’ (ITCI) Outperform Rating Reiterated at Royal Bank of Canada

by · The Cerbat Gem

Royal Bank of Canada reissued their outperform rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI – Free Report) in a research note issued to investors on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has a $86.00 target price on the biopharmaceutical company’s stock.

Several other research analysts also recently issued reports on the stock. Robert W. Baird started 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 on the stock. Cantor Fitzgerald reissued an overweight rating and set a $101.00 price objective on shares of Intra-Cellular Therapies in a research report on Thursday, December 14th. TD Cowen started coverage on shares of Intra-Cellular Therapies in a research report on Monday, December 11th. They set an outperform rating and a $75.00 price objective on the stock. Bank of America raised their price objective on shares of Intra-Cellular Therapies from $74.00 to $82.00 and gave the stock a buy rating in a research report on Tuesday, January 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of Intra-Cellular Therapies from $58.00 to $64.00 and gave the company a neutral rating in a report on Thursday, January 18th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $79.92.

Read Our Latest Research Report on ITCI

Intra-Cellular Therapies Price Performance

NASDAQ ITCI opened at $67.25 on Wednesday. The firm’s fifty day moving average price is $66.43 and its 200 day moving average price is $59.36. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of -41.77 and a beta of 1.04. Intra-Cellular Therapies has a 12 month low of $42.01 and a 12 month high of $74.17.

Intra-Cellular Therapies (NASDAQ:ITCI – Get Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.34. Intra-Cellular Therapies had a negative net margin of 36.92% and a negative return on equity of 24.91%. The company had revenue of $126.17 million for the quarter, compared to the consensus estimate of $118.35 million. As a group, sell-side analysts forecast that Intra-Cellular Therapies will post -1.66 earnings per share for the current year.

Insider Activity at Intra-Cellular Therapies

In related news, EVP Suresh K. Durgam sold 21,262 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $65.00, for a total value of $1,382,030.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 21,262 shares of Intra-Cellular Therapies stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $65.00, for a total transaction of $1,382,030.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Neumann sold 42,393 shares of Intra-Cellular Therapies stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $55.63, for a total transaction of $2,358,322.59. Following the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at approximately $1,652,211. The disclosure for this sale can be found here. Insiders sold 319,215 shares of company stock worth $20,974,498 over the last 90 days. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITCI. JPMorgan Chase & Co. raised its position in Intra-Cellular Therapies by 11.7% during the first quarter. JPMorgan Chase & Co. now owns 157,144 shares of the biopharmaceutical company’s stock worth $9,615,000 after acquiring an additional 16,454 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Intra-Cellular Therapies by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 385,508 shares of the biopharmaceutical company’s stock valued at $23,591,000 after buying an additional 18,999 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Intra-Cellular Therapies in the first quarter valued at approximately $349,000. PNC Financial Services Group Inc. raised its position in shares of Intra-Cellular Therapies by 25.6% in the first quarter. PNC Financial Services Group Inc. now owns 5,909 shares of the biopharmaceutical company’s stock valued at $363,000 after buying an additional 1,204 shares during the last quarter. Finally, Natixis Advisors L.P. raised its position in shares of Intra-Cellular Therapies by 71.3% in the first quarter. Natixis Advisors L.P. now owns 18,165 shares of the biopharmaceutical company’s stock valued at $1,112,000 after buying an additional 7,558 shares during the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

About Intra-Cellular Therapies

(Get Free Report)

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.

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