Intra-Cellular Therapies (NASDAQ:ITCI) Given "Sector Perform" Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI - Free Report) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $132.00 price target on the biopharmaceutical company's stock, up from their previous price target of $108.00.

Several other equities research analysts have also recently weighed in on ITCI. JPMorgan Chase & Co. upped their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Morgan Stanley increased their price target 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. Leerink Partnrs downgraded shares of Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Baird R W downgraded Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a report on Monday, January 13th. Finally, Piper Sandler reissued a "neutral" rating and set a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating, seven 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 has a consensus rating of "Moderate Buy" and a consensus price target of $102.15.

Intra-Cellular Therapies Price Performance

Intra-Cellular Therapies stock traded up $0.65 during midday trading on Wednesday, hitting $127.15. The company's stock had a trading volume of 6,344,015 shares, compared to its average volume of 7,183,255. The company has a market cap of $13.48 billion, a price-to-earnings ratio of -146.15 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 company has a 50-day moving average price of $90.75 and a two-hundred day moving average price of $81.70.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.07). The business had revenue of $175.40 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 39.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.25) earnings per share. Sell-side analysts forecast that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insider Buying and Selling

In related news, President Michael Halstead sold 22,869 shares of the company's stock in a transaction that occurred 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 directly owns 1,070,329 shares of the company's stock, valued at $91,834,228.20. This represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of institutional investors have recently modified their holdings of ITCI. KBC Group NV boosted its position in shares of Intra-Cellular Therapies by 31.8% during the 4th quarter. KBC Group NV now owns 3,774 shares of the biopharmaceutical company's stock valued at $315,000 after purchasing an additional 910 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Intra-Cellular Therapies by 204.4% during the 4th quarter. SG Americas Securities LLC now owns 12,917 shares of the biopharmaceutical company's stock worth $1,079,000 after buying an additional 8,673 shares in the last quarter. Cetera Trust Company N.A grew its position in shares of Intra-Cellular Therapies by 17.3% during the 4th quarter. Cetera Trust Company N.A now owns 2,955 shares of the biopharmaceutical company's stock worth $247,000 after buying an additional 435 shares during the period. Barlow Wealth Partners Inc. bought a new stake in shares of Intra-Cellular Therapies in the 4th quarter valued at $184,000. Finally, Oak Ridge Investments LLC increased its stake in shares of Intra-Cellular Therapies by 74.1% in the 4th quarter. Oak Ridge Investments LLC now owns 19,831 shares of the biopharmaceutical company's stock valued at $1,656,000 after acquiring an additional 8,440 shares in the last quarter. 92.33% of the stock is 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.