Intra-Cellular Therapies (NASDAQ:ITCI) Earns Hold Rating from Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research report issued to clients and investors on Friday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Several other research firms also recently commented on ITCI. Needham & Company LLC reiterated a “hold” rating on shares of Intra-Cellular Therapies in a research report on Friday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $132.00 price objective (up previously from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Leerink Partnrs lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Mizuho downgraded shares of Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $140.00 to $132.00 in a research note on Monday, February 24th. Finally, Canaccord Genuity Group lowered shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and lifted their price target for the stock from $119.00 to $132.00 in a report on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $106.08.

Intra-Cellular Therapies Price Performance

Shares of NASDAQ:ITCI opened at $131.75 on Friday. Intra-Cellular Therapies has a one year low of $64.09 and a one year high of $131.79. The company has a market cap of $14.01 billion, a price-to-earnings ratio of -151.44 and a beta of 0.69. The firm has a 50 day simple moving average of $129.00 and a 200 day simple moving average of $99.05.

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

Institutional Trading of Intra-Cellular Therapies

A number of institutional investors have recently bought and sold shares of ITCI. Norges Bank acquired a new position in shares of Intra-Cellular Therapies in the 4th quarter valued at about $268,347,000. Raymond James Financial Inc. bought a new stake in Intra-Cellular Therapies in the fourth quarter worth approximately $76,451,000. Adage Capital Partners GP L.L.C. increased its holdings in Intra-Cellular Therapies by 266.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 678,000 shares of the biopharmaceutical company’s stock worth $56,627,000 after purchasing an additional 493,000 shares in the last quarter. TimesSquare Capital Management LLC lifted its stake in Intra-Cellular Therapies by 91.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 840,269 shares of the biopharmaceutical company’s stock valued at $70,179,000 after buying an additional 402,186 shares during the period. Finally, Deep Track Capital LP boosted its holdings in shares of Intra-Cellular Therapies by 24.9% during the 4th quarter. Deep Track Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock worth $167,040,000 after buying an additional 399,307 shares in the last quarter. Institutional investors own 92.33% of the company’s stock.

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.