Intra-Cellular Therapies (NASDAQ:ITCI) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report issued on Friday morning,Benzinga reports.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. upped their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Royal Bank of Canada reissued a “sector perform” rating and issued a $132.00 target price (up previously from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Leerink Partnrs lowered Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Canaccord Genuity Group lowered Intra-Cellular Therapies from a “buy” rating to a “hold” rating and increased their target price for the company from $119.00 to $132.00 in a research note on Friday, January 31st. Finally, Cantor Fitzgerald raised Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.62.

Intra-Cellular Therapies Stock Performance

Shares of ITCI stock opened at $128.60 on Friday. The stock’s fifty day moving average is $110.27 and its 200-day moving average is $89.84. The stock has a market capitalization of $13.67 billion, a PE ratio of -147.81 and a beta of 0.72. Intra-Cellular Therapies has a 52 week low of $62.78 and a 52 week high of $128.77.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced 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). The business had revenue of $199.22 million for the quarter, compared to the consensus estimate 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, analysts forecast that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. The trade was a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds and other institutional investors have recently modified their holdings of the business. Accredited Wealth Management LLC bought a new position in shares of Intra-Cellular Therapies in the 4th quarter valued at $28,000. True Wealth Design LLC bought a new position in shares of Intra-Cellular Therapies in the 3rd quarter valued at $32,000. GAMMA Investing LLC grew its position in Intra-Cellular Therapies by 46.3% during the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 240 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Intra-Cellular Therapies in the 3rd quarter worth about $74,000. Finally, Venturi Wealth Management LLC acquired a new position in Intra-Cellular Therapies in the 4th quarter worth about $96,000. 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.