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

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

Other equities research analysts also recently issued reports about the stock. Canaccord Genuity Group downgraded shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and raised their target price for the company from $119.00 to $132.00 in a research note on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of Intra-Cellular Therapies in a research report on Friday, February 21st. Leerink Partnrs lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Baird R W downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada reaffirmed 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, January 22nd. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $106.08.

Intra-Cellular Therapies Price Performance

ITCI opened at $131.81 on Friday. The firm has a market capitalization of $14.04 billion, a P/E ratio of -151.50 and a beta of 0.69. Intra-Cellular Therapies has a one year low of $64.09 and a one year high of $131.87. The company has a fifty day moving average price of $129.12 and a 200-day moving average price of $99.63.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) 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 business had revenue of $199.22 million for the quarter, compared to analysts’ expectations of $205.08 million. On average, analysts expect that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Institutional Investors Weigh In On Intra-Cellular Therapies

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Intra-Cellular Therapies during the fourth quarter valued at about $268,347,000. Raymond James Financial Inc. purchased a new position in Intra-Cellular Therapies during the 4th quarter valued at about $76,451,000. Adage Capital Partners GP L.L.C. raised its position in Intra-Cellular Therapies by 266.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 678,000 shares of the biopharmaceutical company’s stock valued at $56,627,000 after purchasing an additional 493,000 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in Intra-Cellular Therapies by 91.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 840,269 shares of the biopharmaceutical company’s stock worth $70,179,000 after buying an additional 402,186 shares during the period. Finally, Deep Track Capital LP lifted its holdings in Intra-Cellular Therapies by 24.9% in 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 during the period. 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.