JPMorgan Chase & Co. Issues Positive Forecast for Intra-Cellular Therapies (NASDAQ:ITCI) Stock Price

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price raised by JPMorgan Chase & Co. from $81.00 to $89.00 in a research note released on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biopharmaceutical company’s stock.

Several other research analysts also recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. UBS Group lowered their price target on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Piper Sandler upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Finally, Morgan Stanley lifted their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Intra-Cellular Therapies presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.23.

Intra-Cellular Therapies Trading Up 1.2 %

NASDAQ ITCI opened at $90.51 on Monday. The firm has a market cap of $9.60 billion, a price-to-earnings ratio of -104.03 and a beta of 0.97. Intra-Cellular Therapies has a 1-year low of $52.88 and a 1-year high of $91.68. The company has a 50 day moving average of $76.42 and a 200-day moving average of $73.65.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The business had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The company’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.25) EPS. On average, analysts forecast that Intra-Cellular Therapies will post -0.62 earnings per share for the current year.

Insider Transactions at Intra-Cellular Therapies

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

Institutional Investors Weigh In On Intra-Cellular Therapies

Hedge funds have recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in Intra-Cellular Therapies during the 1st quarter worth approximately $32,000. Fidelis Capital Partners LLC bought a new stake in shares of Intra-Cellular Therapies during the first quarter worth $53,000. Summit Securities Group LLC acquired a new stake in shares of Intra-Cellular Therapies during the second quarter worth $56,000. Capital Performance Advisors LLP bought a new stake in Intra-Cellular Therapies in the 3rd quarter valued at $74,000. Finally, CWM LLC boosted its stake in Intra-Cellular Therapies by 83.9% in the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 626 shares during the period. 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.