Intra-Cellular Therapies (NASDAQ:ITCI) Coverage Initiated by Analysts at StockNews.com

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

Several other equities research analysts have also weighed in on ITCI. Royal Bank of Canada reiterated a “sector perform” rating and issued a $132.00 price objective (up from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Canaccord Genuity Group cut shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and upped their price objective for the stock from $119.00 to $132.00 in a research note on Friday, January 31st. Baird R W downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Piper Sandler reaffirmed a “neutral” rating and set a $132.00 price target (up from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday, January 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of Intra-Cellular Therapies in a research note on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $106.08.

Intra-Cellular Therapies Stock Down 0.0 %

ITCI opened at $128.53 on Monday. Intra-Cellular Therapies has a 12-month low of $63.30 and a 12-month high of $128.77. The firm has a market capitalization of $13.67 billion, a P/E ratio of -147.73 and a beta of 0.72. The stock’s 50 day moving average price is $111.14 and its two-hundred day moving average price is $90.22.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data 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 firm had revenue of $199.22 million for the quarter, compared to analyst estimates of $205.08 million. As a group, analysts anticipate that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its position in Intra-Cellular Therapies by 10.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 22,480 shares of the biopharmaceutical company’s stock worth $1,878,000 after buying an additional 2,157 shares during the last quarter. Barclays PLC increased its holdings in shares of Intra-Cellular Therapies by 282.0% in the third quarter. Barclays PLC now owns 34,453 shares of the biopharmaceutical company’s stock valued at $2,521,000 after purchasing an additional 25,435 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Intra-Cellular Therapies by 31.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock valued at $33,258,000 after purchasing an additional 109,892 shares during the period. Oak Ridge Investments LLC lifted its stake in shares of Intra-Cellular Therapies by 74.1% during the 4th quarter. Oak Ridge Investments LLC now owns 19,831 shares of the biopharmaceutical company’s stock worth $1,656,000 after buying an additional 8,440 shares during the last quarter. Finally, Cynosure Group LLC boosted its holdings in shares of Intra-Cellular Therapies by 161.0% during the 3rd quarter. Cynosure Group LLC now owns 14,442 shares of the biopharmaceutical company’s stock worth $1,057,000 after buying an additional 8,909 shares during the period. 92.33% of the stock is currently 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.