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

StockNews.com started coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research note released on Thursday. The firm issued a hold rating on the biopharmaceutical company’s stock.

Other analysts also recently issued research reports about the stock. Cantor Fitzgerald restated a “neutral” rating and set a $132.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, April 2nd. Mizuho downgraded shares of Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $140.00 to $132.00 in a research report on Monday, February 24th. Canaccord Genuity Group downgraded shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $119.00 to $132.00 in a research report 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. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $132.00 price objective (up previously from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Intra-Cellular Therapies has an average rating of “Hold” and an average target price of $109.70.

Intra-Cellular Therapies Price Performance

Shares of Intra-Cellular Therapies stock opened at $131.87 on Thursday. Intra-Cellular Therapies has a 52-week low of $64.09 and a 52-week high of $131.98. The company has a 50 day moving average of $131.79 and a 200 day moving average of $114.01. The company has a market capitalization of $14.05 billion, a P/E ratio of -151.57 and a beta of 0.69.

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

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of institutional investors have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Intra-Cellular Therapies by 124.3% in 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 period. M&T Bank Corp increased its holdings in shares of Intra-Cellular Therapies by 2.2% in the 4th quarter. M&T Bank Corp now owns 6,301 shares of the biopharmaceutical company’s stock valued at $526,000 after acquiring an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Intra-Cellular Therapies by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company’s stock valued at $748,000 after buying an additional 141 shares during the period. CIBC Asset Management Inc raised its position in Intra-Cellular Therapies by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 2,956 shares of the biopharmaceutical company’s stock worth $247,000 after buying an additional 150 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Intra-Cellular Therapies by 152.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 268 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 162 shares during 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.