Intra-Cellular Therapies (NASDAQ:ITCI) Price Target Raised to $95.00 at Morgan Stanley

Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective upped by research analysts at Morgan Stanley from $92.00 to $95.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target suggests a potential upside of 25.18% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Canaccord Genuity Group lifted their target price on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Royal Bank of Canada lifted their price objective on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, October 4th. JPMorgan Chase & Co. raised their price target on Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Mizuho upped their price target on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.62.

Intra-Cellular Therapies Trading Up 3.1 %

Shares of Intra-Cellular Therapies stock traded up $2.28 on Friday, reaching $75.89. 204,555 shares of the company were exchanged, compared to its average volume of 883,764. The company has a market capitalization of $8.02 billion, a price-to-earnings ratio of -87.34 and a beta of 1.00. The company has a 50-day moving average of $74.38 and a 200 day moving average of $72.13. Intra-Cellular Therapies has a one year low of $45.50 and a one year high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. The business had revenue of $161.40 million during the quarter, compared to the consensus estimate of $157.74 million. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The company’s revenue for the quarter was up 45.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.45) EPS. Analysts predict that Intra-Cellular Therapies will post -0.59 earnings per share for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, EVP Mark Neumann sold 18,714 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at $2,229,876. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total value of $4,010,433.45. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $80,970,388.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the sale, the executive vice president now directly owns 29,700 shares in the company, valued at approximately $2,229,876. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,316 shares of company stock worth $13,037,345 in the last ninety days. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Essex Investment Management Co. LLC increased its holdings in Intra-Cellular Therapies by 85.7% during the 3rd quarter. Essex Investment Management Co. LLC now owns 58,385 shares of the biopharmaceutical company’s stock worth $4,272,000 after purchasing an additional 26,937 shares in the last quarter. Inspire Investing LLC raised its position in Intra-Cellular Therapies by 10.4% during the 3rd quarter. Inspire Investing LLC now owns 5,606 shares of the biopharmaceutical company’s stock worth $410,000 after purchasing an additional 528 shares during the last quarter. CWM LLC lifted its position in shares of Intra-Cellular Therapies by 867.5% during the 3rd quarter. CWM LLC now owns 13,274 shares of the biopharmaceutical company’s stock valued at $971,000 after acquiring an additional 11,902 shares during the period. Handelsbanken Fonder AB increased its position in shares of Intra-Cellular Therapies by 23.5% during the third quarter. Handelsbanken Fonder AB now owns 26,300 shares of the biopharmaceutical company’s stock worth $1,924,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Ghisallo Capital Management LLC bought a new position in shares of Intra-Cellular Therapies in the second quarter valued at approximately $3,424,000. Institutional investors and hedge funds own 92.33% of the company’s stock.

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.