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

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

Several other equities analysts have also commented on ITCI. Needham & Company LLC reaffirmed a “hold” rating on shares of Intra-Cellular Therapies in a research report on Friday, February 21st. Royal Bank of Canada restated a “sector perform” rating and issued a $132.00 price objective (up from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Baird R W cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $132.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, April 2nd. Finally, Canaccord Genuity Group downgraded shares of 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 note on Friday, January 31st. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Intra-Cellular Therapies currently has a consensus rating of “Hold” and an average price target of $109.70.

Intra-Cellular Therapies Price Performance

Shares of Intra-Cellular Therapies stock opened at $131.87 on Monday. Intra-Cellular Therapies has a fifty-two week low of $64.09 and a fifty-two week high of $131.98. The business’s fifty day moving average is $130.92 and its two-hundred day moving average is $107.03. The firm has a market cap of $14.05 billion, a PE ratio of -151.57 and a beta of 0.69.

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 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. Equities research analysts anticipate that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ITCI. MassMutual Private Wealth & Trust FSB lifted its position in shares of Intra-Cellular Therapies by 124.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 240 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 133 shares during the last quarter. M&T Bank Corp raised its position in shares of Intra-Cellular Therapies by 2.2% during the fourth quarter. M&T Bank Corp now owns 6,301 shares of the biopharmaceutical company’s stock worth $526,000 after purchasing an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Intra-Cellular Therapies by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company’s stock valued at $748,000 after purchasing an additional 141 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Intra-Cellular Therapies by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 2,956 shares of the biopharmaceutical company’s stock valued at $247,000 after purchasing an additional 150 shares during the period. Finally, Pallas Capital Advisors LLC increased its stake in Intra-Cellular Therapies by 6.4% in the 4th quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock worth $266,000 after purchasing an additional 192 shares in the last quarter. 92.33% of the stock is owned by institutional investors and hedge funds.

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.