SVB Leerink Increases Intra-Cellular Therapies (NASDAQ:ITCI) Price Target to $70.00

Intra-Cellular Therapies (NASDAQ:ITCIGet Rating) had its price objective boosted by stock analysts at SVB Leerink from $65.00 to $70.00 in a research report issued on Thursday, MarketBeat Ratings reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. SVB Leerink’s price objective would suggest a potential upside of 33.49% from the stock’s current price. SVB Leerink also issued estimates for Intra-Cellular Therapies’ FY2024 earnings at $1.90 EPS.

Several other equities analysts have also recently issued reports on ITCI. Needham & Company LLC raised their price target on Intra-Cellular Therapies from $59.00 to $65.00 and gave the company a “buy” rating in a report on Friday, February 25th. Zacks Investment Research upgraded Intra-Cellular Therapies from a “sell” rating to a “hold” rating in a report on Thursday, January 13th. The Goldman Sachs Group began coverage on Intra-Cellular Therapies in a report on Wednesday, February 16th. They set a “buy” rating and a $64.00 target price on the stock. Finally, StockNews.com began coverage on Intra-Cellular Therapies in a report on Thursday, March 31st. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Intra-Cellular Therapies has a consensus rating of “Buy” and an average target price of $60.43.

Intra-Cellular Therapies stock opened at $52.44 on Thursday. The business’s 50-day simple moving average is $59.06 and its 200 day simple moving average is $48.87. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of -14.98 and a beta of 1.20. Intra-Cellular Therapies has a 12-month low of $28.40 and a 12-month high of $66.00.

Intra-Cellular Therapies (NASDAQ:ITCIGet Rating) last posted its quarterly earnings results on Tuesday, March 1st. The biopharmaceutical company reported ($1.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.05). The business had revenue of $25.67 million for the quarter, compared to analysts’ expectations of $24.93 million. Intra-Cellular Therapies had a negative return on equity of 54.89% and a negative net margin of 339.04%. The firm’s quarterly revenue was up 106.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.76) earnings per share. Research analysts predict that Intra-Cellular Therapies will post -3.11 earnings per share for the current fiscal year.

In related news, insider Suresh K. Durgam sold 3,860 shares of Intra-Cellular Therapies stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $55.52, for a total value of $214,307.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Suresh K. Durgam sold 4,177 shares of Intra-Cellular Therapies stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $55.29, for a total value of $230,946.33. The disclosure for this sale can be found here. Insiders have sold a total of 280,157 shares of company stock worth $16,524,262 in the last quarter. 13.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. UMB Bank N A MO increased its position in shares of Intra-Cellular Therapies by 8.6% during the 1st quarter. UMB Bank N A MO now owns 5,056 shares of the biopharmaceutical company’s stock worth $309,000 after purchasing an additional 400 shares during the last quarter. Strs Ohio increased its position in shares of Intra-Cellular Therapies by 55.4% during the 1st quarter. Strs Ohio now owns 12,900 shares of the biopharmaceutical company’s stock worth $789,000 after purchasing an additional 4,600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Intra-Cellular Therapies by 3.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,931 shares of the biopharmaceutical company’s stock worth $730,000 after acquiring an additional 396 shares during the period. GPS Wealth Strategies Group LLC bought a new position in shares of Intra-Cellular Therapies during the 1st quarter worth approximately $61,000. Finally, Xponance Inc. bought a new position in shares of Intra-Cellular Therapies during the 1st quarter worth approximately $235,000. 83.48% of the stock is currently owned by institutional investors and hedge funds.

Intra-Cellular Therapies Company Profile (Get Rating)

Intra-Cellular Therapies, Inc, a biopharmaceutical company, develops novel drugs for the treatment of neuropsychiatric and neurologic diseases by targeting intracellular signaling mechanisms within the central nervous system in the United States. The company offers CAPLYTA for the treatment of schizophrenia in adults.

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