Needham & Company LLC Reaffirms “Hold” Rating for Intra-Cellular Therapies (NASDAQ:ITCI)

Needham & Company LLC reissued their hold rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research report sent to investors on Monday,Benzinga reports. Needham & Company LLC currently has a $100.00 price objective on the biopharmaceutical company’s stock.

Several other research firms also recently issued reports on ITCI. JPMorgan Chase & Co. boosted their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Morgan Stanley boosted their price target on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Finally, Royal Bank of Canada boosted their target price on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.23.

Intra-Cellular Therapies Stock Up 34.1 %

NASDAQ:ITCI opened at $127.19 on Monday. Intra-Cellular Therapies has a 12-month low of $62.78 and a 12-month high of $128.00. The firm has a market capitalization of $13.48 billion, a price-to-earnings ratio of -146.19 and a beta of 0.70. The stock’s 50 day moving average price is $86.39 and its two-hundred day moving average price is $79.26.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). 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 $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. During the same quarter last year, the company posted ($0.25) EPS. The firm’s revenue was up 39.0% on a year-over-year basis. Equities research analysts expect that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insider Activity

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was 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. This trade represents a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of Intra-Cellular Therapies by 7.4% during the second quarter. Victory Capital Management Inc. now owns 68,139 shares of the biopharmaceutical company’s stock valued at $4,667,000 after acquiring an additional 4,674 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Intra-Cellular Therapies by 1.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 52,499 shares of the biopharmaceutical company’s stock valued at $3,714,000 after purchasing an additional 502 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Intra-Cellular Therapies by 21.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 35,492 shares of the biopharmaceutical company’s stock valued at $2,431,000 after purchasing an additional 6,382 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Intra-Cellular Therapies by 130.0% during the 2nd quarter. Renaissance Technologies LLC now owns 222,400 shares of the biopharmaceutical company’s stock worth $15,232,000 after purchasing an additional 125,700 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Intra-Cellular Therapies in the 2nd quarter worth about $1,420,000. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Company Profile

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.