Intra-Cellular Therapies (NASDAQ:ITCI) Now Covered by Analysts at StockNews.com

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

Several other analysts also recently weighed in on the stock. Baird R W downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. boosted their price target on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intra-Cellular Therapies in a report on Friday. Canaccord Genuity Group cut Intra-Cellular Therapies from a “buy” rating to a “hold” rating and lifted their target price for the stock from $119.00 to $132.00 in a research report on Friday, January 31st. Finally, Piper Sandler reissued a “neutral” rating and issued a $132.00 target price (up from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday, January 14th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Intra-Cellular Therapies currently has an average rating of “Hold” and a consensus price target of $106.08.

Intra-Cellular Therapies Trading Down 0.0 %

Shares of ITCI stock opened at $128.57 on Monday. Intra-Cellular Therapies has a 12 month low of $63.30 and a 12 month high of $128.77. The company has a market cap of $13.67 billion, a P/E ratio of -147.78 and a beta of 0.72. The firm has a fifty day moving average price of $111.14 and a 200 day moving average price of $90.22.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Friday, February 21st. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). The business had revenue of $199.22 million during the quarter, compared to analysts’ expectations of $205.08 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. On average, equities analysts forecast that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insider Activity

In other news, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total value of $4,375,800.00. Following the sale, the chief executive officer now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of hedge funds have recently added to or reduced their stakes in ITCI. Raymond James & Associates raised its stake in shares of Intra-Cellular Therapies by 2.8% during the 3rd quarter. Raymond James & Associates now owns 158,852 shares of the biopharmaceutical company’s stock worth $11,623,000 after buying an additional 4,325 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Intra-Cellular Therapies by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the biopharmaceutical company’s stock worth $280,000 after acquiring an additional 670 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Intra-Cellular Therapies by 185.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 8,810 shares of the biopharmaceutical company’s stock worth $645,000 after acquiring an additional 5,725 shares in the last quarter. abrdn plc lifted its holdings in Intra-Cellular Therapies by 7.5% in the third quarter. abrdn plc now owns 250,963 shares of the biopharmaceutical company’s stock valued at $18,363,000 after acquiring an additional 17,612 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Intra-Cellular Therapies by 63.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,323 shares of the biopharmaceutical company’s stock valued at $1,487,000 after acquiring an additional 7,920 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.

About Intra-Cellular Therapies

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.