Intra-Cellular Therapies (NASDAQ:ITCI) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated 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.

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC restated a “hold” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, January 13th. Piper Sandler reaffirmed a “neutral” rating and issued a $132.00 price objective (up from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Royal Bank of Canada reissued 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. Morgan Stanley raised their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Cantor Fitzgerald raised shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.15.

Intra-Cellular Therapies Stock Up 0.2 %

ITCI stock 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 firm has a market cap of $13.50 billion, a P/E ratio of -146.38 and a beta of 0.70. The company’s 50-day simple moving average is $93.20 and its 200-day simple moving average is $82.78.

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). Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The company had revenue of $175.40 million for the quarter, compared to analysts’ expectations of $172.30 million. During the same period in the prior year, the firm earned ($0.25) EPS. The firm’s revenue for the quarter was up 39.0% on a year-over-year basis. On average, analysts anticipate that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Michael Halstead sold 22,869 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Several large investors have recently modified their holdings of the business. Wasatch Advisors LP boosted its holdings in shares of Intra-Cellular Therapies by 3.5% during the third quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company’s stock worth $281,601,000 after purchasing an additional 130,351 shares during the last quarter. Bellevue Group AG boosted its stake in Intra-Cellular Therapies by 0.6% in the 3rd quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company’s stock worth $181,873,000 after buying an additional 14,342 shares during the last quarter. State Street Corp grew its holdings in Intra-Cellular Therapies by 3.1% in the 3rd quarter. State Street Corp now owns 1,858,915 shares of the biopharmaceutical company’s stock valued at $136,017,000 after buying an additional 56,664 shares during the period. Franklin Resources Inc. increased its stake in shares of Intra-Cellular Therapies by 9.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company’s stock valued at $129,463,000 after acquiring an additional 155,655 shares during the last quarter. Finally, Perceptive Advisors LLC boosted its position in shares of Intra-Cellular Therapies by 62.6% in the second quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock worth $117,557,000 after acquiring an additional 661,052 shares during the last quarter. 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.