Intra-Cellular Therapies’ (ITCI) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research report released on Wednesday, MarketBeat reports. The firm currently has a $132.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $108.00.

ITCI has been the topic of a number of other reports. Morgan Stanley increased their target price on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Needham & Company LLC reissued a “hold” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a report on Monday, January 13th. Baird R W lowered Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. JPMorgan Chase & Co. increased their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Leerink Partnrs downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.15.

Intra-Cellular Therapies Stock Performance

Shares of ITCI stock opened at $127.35 on Wednesday. Intra-Cellular Therapies has a one year low of $62.78 and a one year high of $128.00. The company’s 50-day simple moving average is $93.20 and its 200-day simple moving average is $82.72. The stock has a market capitalization of $13.50 billion, a price-to-earnings ratio of -146.38 and a beta of 0.70.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The firm had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. Intra-Cellular Therapies’s revenue was up 39.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.25) EPS. As a group, research analysts forecast that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insider Activity at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently bought and sold shares of ITCI. True Wealth Design LLC bought a new stake in Intra-Cellular Therapies in the third quarter worth about $32,000. GAMMA Investing LLC raised its holdings in shares of Intra-Cellular Therapies by 46.3% in the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 240 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Intra-Cellular Therapies in the 3rd quarter worth approximately $74,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Intra-Cellular Therapies in the 3rd quarter worth approximately $97,000. Finally, Quarry LP increased its holdings in shares of Intra-Cellular Therapies by 260.0% in the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 1,300 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors.

About Intra-Cellular Therapies

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.