Intracellular Therapies (NASDAQ:ITCI – Request a Free Report) The price target was cut by Goldman Sachs Group from $77.00 to $74.00 in a research note published on Thursday, Benzinga reports. The firm currently rates the biopharmaceutical company’s stock as “neutral.” Goldman Sachs Group’s price target would imply a potential upside of 0.50% from the company’s current price.
Several other research firms have also recently commented on ITCI. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday. Robert W. Baird increased their price target on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17. TD Cowen increased their price target on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 17. Royal Bank of Canada reiterated an “outperform” rating and issued a $103.00 price target on shares of Intra-Cellular Therapies in a research report on Tuesday, June 25. Finally, UBS Group reiterated its “neutral” rating and issued a price target of $83.00 (previously $85.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, June 25. Three equities analysts have rated the stock with a hold rating and nine have given a buy rating. Based on data from MarketBeat.com, Intra-Cellular Therapies has an average rating of “moderate buy” and a consensus price target of $95.91.
Get our latest stock analysis on ITCI
Intra-Cellular Therapies shares down 5.8%
Intra-Cellular Therapies shares opened at $73.63 on Thursday. The stock has a market cap of $7.77 billion, a P/E ratio of -63.47 and a beta of 1.01. The company has a 50-day moving average of $73.37 and a 200-day moving average of $70.51. Intra-Cellular Therapies has a 12-month low of $45.50 and a 12-month high of $84.89.
Intra-Cellular Therapies (NASDAQ:ITCI – Get Free Report) last announced its earnings results on Wednesday, August 7. The biopharmaceutical company reported earnings per share (EPS) of -$0.16 for the quarter, beating analysts’ consensus estimates of -$0.18 by $0.02. The company had revenue of $161.40 million for the quarter, compared to analyst expectations of $157.74 million. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. The company’s revenue for the quarter grew 45.7% year-over-year. In the same quarter last year, the company reported earnings per share of -$0.45. On average, equities analysts expect that Intra-Cellular Therapies will post earnings per share of -$0.54 for the current year.
Insider buying and selling
In related news, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $75.57, for a total transaction of $337,193.34. Following the transaction, the director now owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $75.57, for a total transaction of $337,193.34. Following the transaction, the director now owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nostrand Robert L. Van sold 20,000 shares of Intra-Cellular Therapies in a transaction that occurred on Tuesday, June 18. The shares were sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the transaction, the director now directly owns 9,690 shares of the company’s stock, valued at approximately $735,567.90. The disclosure for this sale can be found here. 3.40% of the shares are owned by insiders.
Institutional inflows and outflows
A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Intra-Cellular Therapies by 1.4% in the first quarter. Vanguard Group Inc. now owns 9,225,981 shares of the biopharmaceutical company’s stock worth $638,438,000 after buying an additional 131,679 shares in the last quarter. Wasatch Advisors LP increased its stake in Intra-Cellular Therapies by 6.3% in the first quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock worth $266,748,000 after buying an additional 227,439 shares in the last quarter. Avoro Capital Advisors LLC increased its stake in Intra-Cellular Therapies by 9.7% in the first quarter. Avoro Capital Advisors LLC now owns 2,475,000 shares of the biopharmaceutical company’s stock valued at $171,270,000 after purchasing an additional 219,445 shares in the last quarter. Clearbridge Investments LLC increased its stake in Intra-Cellular Therapies by 12.3% in the first quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock valued at $120,723,000 after purchasing an additional 191,416 shares in the last quarter. Finally, Norges Bank bought a new position in Intra-Cellular Therapies in the fourth quarter valued at around $85,744,000. Institutional investors own 92.33% of the company’s stock.
About Intra-Cellular Therapies
(Get free report)
Intra-Cellular Therapies, Inc., a U.S.-based biopharmaceutical company, is focused on the discovery, clinical development and commercialization of small molecule drugs that primarily address unmet medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms in the central nervous system (CNS).
Further information
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