Analysts Set Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Price Target at $106.08

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have been given an average rating of “Hold” by the fifteen ratings firms that are covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $106.08.

A number of brokerages have recently weighed in on ITCI. Needham & Company LLC restated a “hold” rating on shares of Intra-Cellular Therapies in a research report on Friday, February 21st. Piper Sandler reissued a “neutral” rating and set a $132.00 price target (up from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Canaccord Genuity Group downgraded Intra-Cellular Therapies from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $119.00 to $132.00 in a research note on Friday, January 31st. Mizuho cut Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $140.00 to $132.00 in a report on Monday, February 24th. Finally, Cantor Fitzgerald raised shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th.

Institutional Investors Weigh In On Intra-Cellular Therapies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Intra-Cellular Therapies by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 9,721,360 shares of the biopharmaceutical company’s stock valued at $811,928,000 after purchasing an additional 93,107 shares during the last quarter. Wasatch Advisors LP boosted its position in shares of Intra-Cellular Therapies by 3.5% during the third quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company’s stock valued at $281,601,000 after buying an additional 130,351 shares during the period. Norges Bank bought a new position in shares of Intra-Cellular Therapies during the fourth quarter valued at approximately $268,347,000. Invesco Ltd. raised its holdings in shares of Intra-Cellular Therapies by 2.9% in the fourth quarter. Invesco Ltd. now owns 3,077,174 shares of the biopharmaceutical company’s stock worth $257,006,000 after buying an additional 87,582 shares during the period. Finally, Bellevue Group AG lifted its stake in shares of Intra-Cellular Therapies by 0.6% during the 3rd quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company’s stock worth $181,873,000 after acquiring an additional 14,342 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Price Performance

Shares of ITCI opened at $131.24 on Wednesday. The firm has a market cap of $13.95 billion, a P/E ratio of -150.85 and a beta of 0.69. Intra-Cellular Therapies has a 1 year low of $63.30 and a 1 year high of $131.37. The company has a 50 day simple moving average of $121.11 and a two-hundred day simple moving average of $94.48.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). The company had revenue of $199.22 million for the quarter, compared to the consensus estimate of $205.08 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. On average, sell-side analysts anticipate that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

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.