Intra-Cellular Therapies (NASDAQ:ITCI) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a hold rating to a strong-buy rating in a report issued on Tuesday morning,Zacks.com reports.

Several other research analysts also recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Monday. Morgan Stanley boosted their target price on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Baird R W lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. increased their target price on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada boosted their price target on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Intra-Cellular Therapies presently has an average rating of “Moderate Buy” and a consensus target price of $100.31.

Intra-Cellular Therapies Trading Down 0.4 %

NASDAQ:ITCI opened at $126.26 on Tuesday. The firm has a market capitalization of $13.39 billion, a PE ratio of -145.12 and a beta of 0.70. Intra-Cellular Therapies has a 1 year low of $62.78 and a 1 year high of $128.00. The firm’s fifty day simple moving average is $88.60 and its 200 day simple moving average is $80.33.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The firm had revenue of $175.40 million for 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 firm’s revenue was up 39.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.25) earnings per share. As a group, analysts anticipate that Intra-Cellular Therapies will post -0.64 EPS for the current fiscal year.

Insider Transactions at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of the firm’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Oak Ridge Investments LLC lifted its position in Intra-Cellular Therapies by 74.1% during the 4th quarter. Oak Ridge Investments LLC now owns 19,831 shares of the biopharmaceutical company’s stock valued at $1,656,000 after purchasing an additional 8,440 shares during the period. Merit Financial Group LLC bought a new position in Intra-Cellular Therapies during the fourth quarter worth about $206,000. Avanza Fonder AB acquired a new position in shares of Intra-Cellular Therapies in the 4th quarter valued at approximately $254,000. Park Avenue Securities LLC boosted its holdings in shares of Intra-Cellular Therapies by 21.3% in the fourth quarter. Park Avenue Securities LLC now owns 6,293 shares of the biopharmaceutical company’s stock valued at $526,000 after buying an additional 1,103 shares during the period. Finally, Pallas Capital Advisors LLC increased its holdings in Intra-Cellular Therapies by 6.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock worth $266,000 after purchasing an additional 192 shares in the last quarter. 92.33% of the stock is currently owned by 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.