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

Equities researchers at StockNews.com initiated coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Other research analysts have also recently issued research reports about the company. Baird R W cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Royal Bank of Canada restated a “sector perform” rating and set a $132.00 price target (up previously from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday. Needham & Company LLC restated a “hold” rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a report on Monday, January 13th. Piper Sandler reissued a “neutral” rating and set a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Finally, Leerink Partnrs cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.15.

Intra-Cellular Therapies Stock Up 0.2 %

ITCI stock opened at $127.35 on Thursday. Intra-Cellular Therapies has a twelve month low of $62.78 and a twelve month high of $128.00. The firm has a market cap of $13.50 billion, a price-to-earnings ratio of -146.38 and a beta of 0.70. The business’s fifty day simple moving average is $93.20 and its two-hundred day simple moving average is $82.72.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The company had revenue of $175.40 million during the quarter, compared to analysts’ expectations of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The company’s quarterly revenue was up 39.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.25) EPS. Research analysts expect that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insider Activity at Intra-Cellular Therapies

In related news, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sharon Mates sold 51,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now 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 disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Intra-Cellular Therapies

A number of hedge funds and other institutional investors have recently made changes to their positions in ITCI. Wasatch Advisors LP grew its position in Intra-Cellular Therapies by 3.5% during the 3rd 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. Bellevue Group AG lifted its holdings in shares of Intra-Cellular Therapies by 0.6% in the 3rd quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company’s stock valued at $181,873,000 after buying an additional 14,342 shares during the period. State Street Corp boosted its stake in shares of Intra-Cellular Therapies by 3.1% in the third quarter. State Street Corp now owns 1,858,915 shares of the biopharmaceutical company’s stock worth $136,017,000 after buying an additional 56,664 shares during the last quarter. Franklin Resources Inc. grew its holdings in Intra-Cellular Therapies by 9.7% during the third quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company’s stock worth $129,463,000 after acquiring an additional 155,655 shares during the period. Finally, Perceptive Advisors LLC lifted its holdings in Intra-Cellular Therapies by 62.6% in the second quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock valued at $117,557,000 after acquiring an additional 661,052 shares during the period. Institutional investors and hedge funds 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.