Intra-Cellular Therapies (NASDAQ:ITCI) PT Lowered to $74.00 at The Goldman Sachs Group

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target trimmed by The Goldman Sachs Group from $77.00 to $74.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently issued reports on ITCI. Robert W. Baird increased their price objective on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an outperform rating in a research report on Wednesday, April 17th. Cantor Fitzgerald reiterated an overweight rating and issued a $120.00 price target on shares of Intra-Cellular Therapies in a report on Friday, June 14th. Bank of America raised their price objective on Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Needham & Company LLC reaffirmed a buy rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday. Finally, UBS Group reissued a neutral rating and issued a $83.00 price target (down previously from $85.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $96.73.

Intra-Cellular Therapies Stock Performance

Shares of ITCI opened at $73.61 on Thursday. The firm has a market cap of $7.77 billion, a PE ratio of -63.46 and a beta of 1.01. Intra-Cellular Therapies has a 52-week low of $45.50 and a 52-week high of $84.89. The business’s 50 day moving average price is $73.67 and its two-hundred day moving average price is $70.58.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.03. The company had revenue of $161.40 million during the quarter, compared to analyst estimates of $157.74 million. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. Intra-Cellular Therapies’s revenue for the quarter was up 45.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.45) EPS. Research analysts predict that Intra-Cellular Therapies will post -0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Rory B. Riggs sold 4,462 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $75.57, for a total transaction of $337,193.34. Following the transaction, the director now directly owns 116,600 shares in the company, valued at $8,811,462. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Intra-Cellular Therapies news, Director Rory B. Riggs sold 4,462 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $75.57, for a total value of $337,193.34. Following the completion of the sale, the director now owns 116,600 shares in the company, valued at approximately $8,811,462. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Nostrand Robert L. Van sold 20,000 shares of Intra-Cellular Therapies stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the transaction, the director now directly owns 9,690 shares in the company, valued at approximately $735,567.90. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Large investors have recently made changes to their positions in the business. Kapitalo Investimentos Ltda purchased a new position in shares of Intra-Cellular Therapies in the 4th quarter worth about $26,000. Headlands Technologies LLC bought a new stake in Intra-Cellular Therapies in the first quarter worth about $32,000. Signaturefd LLC boosted its stake in 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 last quarter. Fidelis Capital Partners LLC bought a new position in shares of Intra-Cellular Therapies during the 1st quarter valued at approximately $53,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Intra-Cellular Therapies during the 2nd quarter worth approximately $56,000. 92.33% of the stock is owned by hedge funds and other institutional investors.

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.