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

StockNews.com began 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.

Several other analysts have also recently commented on ITCI. Needham & Company LLC reaffirmed a “hold” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, January 13th. Cantor Fitzgerald upgraded Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $132.00 target price (up previously from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday. Piper Sandler reissued a “neutral” rating and set a $132.00 price objective (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Finally, Baird R W lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Intra-Cellular Therapies currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.15.

Intra-Cellular Therapies Stock Up 0.2 %

NASDAQ:ITCI opened at $127.35 on Thursday. Intra-Cellular Therapies has a 52-week low of $62.78 and a 52-week high of $128.00. The business’s 50-day moving average price is $93.20 and its 200 day moving average price is $82.78. The firm has a market cap of $13.50 billion, a P/E ratio of -146.38 and a beta of 0.70.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The business had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The firm’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.25) earnings per share. Sell-side analysts expect that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 of the company’s stock, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ITCI. Barclays PLC increased its stake in 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 acquiring an additional 25,435 shares during the last quarter. Oak Ridge Investments LLC raised its stake in shares of Intra-Cellular Therapies by 74.1% during the fourth quarter. Oak Ridge Investments LLC now owns 19,831 shares of the biopharmaceutical company’s stock worth $1,656,000 after acquiring an additional 8,440 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Intra-Cellular Therapies by 31.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock worth $33,258,000 after acquiring an additional 109,892 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Intra-Cellular Therapies by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 597,713 shares of the biopharmaceutical company’s stock valued at $43,735,000 after purchasing an additional 18,865 shares during the last quarter. Finally, Cynosure Group LLC increased its holdings in shares of Intra-Cellular Therapies by 161.0% in the third 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.

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.