Intra-Cellular Therapies (NASDAQ:ITCI) Now Covered by StockNews.com

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

A number of other research firms have also recently issued reports on ITCI. Leerink Partnrs cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Baird R W lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Morgan Stanley lifted their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Needham & Company LLC reissued a “hold” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, January 13th. Finally, Cantor Fitzgerald upgraded Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.62.

Intra-Cellular Therapies Price Performance

Shares of Intra-Cellular Therapies stock opened at $127.12 on Friday. The stock’s 50-day moving average is $101.55 and its 200 day moving average is $86.33. Intra-Cellular Therapies has a one year low of $62.78 and a one year high of $128.00. The firm has a market cap of $13.52 billion, a price-to-earnings ratio of -146.11 and a beta of 0.72.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at $91,834,228.20. This represents a 4.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Barclays PLC increased its stake in Intra-Cellular Therapies by 282.0% in the 3rd quarter. Barclays PLC now owns 34,453 shares of the biopharmaceutical company’s stock valued at $2,521,000 after buying an additional 25,435 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Intra-Cellular Therapies by 10.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 22,480 shares of the biopharmaceutical company’s stock valued at $1,878,000 after acquiring an additional 2,157 shares during the last quarter. Oak Ridge Investments LLC lifted its holdings in Intra-Cellular Therapies by 74.1% during the fourth quarter. Oak Ridge Investments LLC now owns 19,831 shares of the biopharmaceutical company’s stock worth $1,656,000 after acquiring an additional 8,440 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Intra-Cellular Therapies by 31.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock worth $33,258,000 after acquiring an additional 109,892 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Intra-Cellular Therapies by 3.3% in the third quarter. Principal Financial Group Inc. now owns 597,713 shares of the biopharmaceutical company’s stock worth $43,735,000 after purchasing an additional 18,865 shares during 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.