Intra-Cellular Therapies (NASDAQ:ITCI) Rating Lowered to “Neutral” at Mizuho

Mizuho cut shares of Intra-Cellular Therapies (NASDAQ:ITCI) from an outperform rating to a neutral rating in a report published on Monday, MarketBeat Ratings reports. Mizuho currently has $132.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $140.00.

A number of other equities research analysts also recently commented on ITCI. Baird R W downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Leerink Partnrs downgraded shares of 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 price target for the company from $119.00 to $132.00 in a research report on Friday, January 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $132.00 price objective (up from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. raised their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Intra-Cellular Therapies has an average rating of “Hold” and a consensus price target of $106.08.

Intra-Cellular Therapies Stock Down 0.0 %

Shares of ITCI opened at $128.57 on Monday. The stock has a market cap of $13.67 billion, a PE ratio of -147.78 and a beta of 0.72. Intra-Cellular Therapies has a 52-week low of $63.30 and a 52-week high of $128.77. The firm’s fifty day moving average is $111.14 and its two-hundred day moving average is $90.22.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly 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). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The company had revenue of $199.22 million during the quarter, compared to analyst estimates of $205.08 million. As a group, research 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 firm’s 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 completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ITCI. Avior Wealth Management LLC lifted its stake in shares of Intra-Cellular Therapies by 3.0% in the third quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company’s stock valued at $327,000 after purchasing an additional 131 shares during the period. M&T Bank Corp raised its position in shares of Intra-Cellular Therapies by 2.2% during the 4th 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 last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Intra-Cellular Therapies by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company’s stock worth $748,000 after acquiring an additional 141 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in 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 in the last quarter. Finally, Pallas Capital Advisors LLC lifted its stake in shares of Intra-Cellular Therapies by 6.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock valued at $266,000 after buying an additional 192 shares during the period. Institutional investors and hedge funds 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.