Intra-Cellular Therapies (NASDAQ:ITCI) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research note issued to investors on Wednesday. The firm issued a hold rating on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on ITCI. Needham & Company LLC restated a “hold” rating on shares of Intra-Cellular Therapies in a research note on Friday, February 21st. Leerink Partnrs cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Canaccord Genuity Group lowered Intra-Cellular Therapies from a “buy” rating to a “hold” rating and boosted their price target for the company from $119.00 to $132.00 in a research note on Friday, January 31st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $132.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, April 2nd. Finally, Mizuho cut Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and lowered their price objective 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.com, the company presently has a consensus rating of “Hold” and a consensus target price of $109.70.

Intra-Cellular Therapies Price Performance

Intra-Cellular Therapies stock opened at $131.87 on Wednesday. The firm has a market cap of $14.05 billion, a price-to-earnings ratio of -151.57 and a beta of 0.69. The firm has a fifty day moving average price of $131.73 and a two-hundred day moving average price of $111.89. Intra-Cellular Therapies has a fifty-two week low of $64.09 and a fifty-two week high of $131.98.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ITCI. Accredited Wealth Management LLC bought a new stake in shares of Intra-Cellular Therapies in the 4th quarter worth about $28,000. MassMutual Private Wealth & Trust FSB grew its stake in Intra-Cellular Therapies by 124.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 240 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 133 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Intra-Cellular Therapies by 46.3% during the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 240 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at approximately $96,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth approximately $97,000. 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.