Intra-Cellular Therapies (NASDAQ:ITCI) Research Coverage Started at StockNews.com

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

Several other analysts also recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Intra-Cellular Therapies in a research report on Friday, February 21st. Canaccord Genuity Group cut 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 research report on Friday, January 31st. Piper Sandler restated a “neutral” rating and issued a $132.00 price target (up from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Baird R W lowered Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Leerink Partnrs downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Intra-Cellular Therapies currently has a consensus rating of “Hold” and an average price target of $106.08.

Intra-Cellular Therapies Trading Down 0.1 %

ITCI stock opened at $128.46 on Monday. The firm has a 50-day moving average of $111.97 and a two-hundred day moving average of $90.60. Intra-Cellular Therapies has a one year low of $63.30 and a one year high of $129.00. The firm has a market capitalization of $13.66 billion, a PE ratio of -147.65 and a beta of 0.72.

Intra-Cellular Therapies (NASDAQ:ITCI) last released 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). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business had revenue of $199.22 million for the quarter, compared to analysts’ expectations of $205.08 million. On average, equities research analysts anticipate that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Insider Transactions at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Intra-Cellular Therapies by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 9,721,360 shares of the biopharmaceutical company’s stock valued at $811,928,000 after purchasing an additional 93,107 shares during the last quarter. Wasatch Advisors LP increased its position in shares of Intra-Cellular Therapies by 3.5% in the third quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company’s stock worth $281,601,000 after purchasing an additional 130,351 shares during the period. Norges Bank acquired a new position in Intra-Cellular Therapies in the fourth quarter valued at about $268,347,000. Invesco Ltd. lifted its position in Intra-Cellular Therapies by 2.9% during the fourth quarter. Invesco Ltd. now owns 3,077,174 shares of the biopharmaceutical company’s stock worth $257,006,000 after purchasing an additional 87,582 shares during the period. Finally, Bellevue Group AG grew its stake in Intra-Cellular Therapies by 0.6% during the third quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company’s stock worth $181,873,000 after buying an additional 14,342 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.