StockNews.com Initiates Coverage on Intra-Cellular Therapies (NASDAQ:ITCI)

StockNews.com initiated coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report released on Monday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently issued reports on ITCI. Royal Bank of Canada reiterated a “sector perform” rating and issued a $132.00 price objective (up from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Canaccord Genuity Group lowered Intra-Cellular Therapies from a “buy” rating to a “hold” rating and increased their price objective for the company from $119.00 to $132.00 in a report on Friday, January 31st. Cantor Fitzgerald reissued a “neutral” rating and issued a $132.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, April 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Intra-Cellular Therapies in a report on Friday, February 21st. Finally, Mizuho lowered shares of Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $140.00 to $132.00 in a research report on Monday, February 24th. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $109.70.

Intra-Cellular Therapies Stock Performance

Shares of ITCI stock opened at $131.87 on Monday. Intra-Cellular Therapies has a 1-year low of $64.09 and a 1-year high of $131.98. The stock’s fifty day simple moving average is $131.00 and its 200-day simple moving average is $107.20. The company has a market capitalization of $14.05 billion, a price-to-earnings ratio of -151.57 and a beta of 0.69.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.08). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The company had revenue of $199.22 million for the quarter, compared to analysts’ expectations of $205.08 million. On average, sell-side analysts predict that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Hedge Funds Weigh In On Intra-Cellular Therapies

Large investors have recently bought and sold shares of the stock. Syquant Capital Sas bought a new position in shares of Intra-Cellular Therapies during the 1st quarter worth about $35,121,000. Advisor Resource Council acquired a new stake in Intra-Cellular Therapies during the first quarter worth about $258,000. QRG Capital Management Inc. bought a new position in Intra-Cellular Therapies during the first quarter valued at about $434,000. Wealth Enhancement Advisory Services LLC raised its holdings in Intra-Cellular Therapies by 4.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,576 shares of the biopharmaceutical company’s stock valued at $1,659,000 after acquiring an additional 566 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of Intra-Cellular Therapies by 8.1% in the 1st quarter. Handelsbanken Fonder AB now owns 29,300 shares of the biopharmaceutical company’s stock worth $3,865,000 after acquiring an additional 2,200 shares during the period. 92.33% of the stock is currently owned by institutional investors and hedge funds.

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.