Intra-Cellular Therapies (NASDAQ:ITCI) Cut to Hold at Leerink Partnrs

Leerink Partnrs lowered shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Morgan Stanley lifted their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. boosted their price target 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. 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 report on Tuesday. Royal Bank of Canada boosted their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Baird R W cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Intra-Cellular Therapies currently has an average rating of “Moderate Buy” and a consensus target price of $100.31.

Intra-Cellular Therapies Price Performance

Shares of ITCI stock opened at $126.71 on Monday. Intra-Cellular Therapies has a fifty-two week low of $62.78 and a fifty-two week high of $128.00. The stock’s 50-day moving average is $87.89 and its two-hundred day moving average is $80.00. The firm has a market cap of $13.43 billion, a P/E ratio of -145.64 and a beta of 0.70.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data 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 firm had revenue of $175.40 million during the quarter, compared to analyst estimates 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 company’s quarterly revenue was up 39.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.25) EPS. As a group, research analysts expect that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. This trade represents a 4.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were 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. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Institutional investors have recently bought and sold shares of the business. Barclays PLC boosted its position in shares of Intra-Cellular Therapies by 282.0% during the 3rd 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 in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Intra-Cellular Therapies by 31.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock valued at $33,258,000 after purchasing an additional 109,892 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Intra-Cellular Therapies by 3.3% during the third 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 in the last quarter. TimesSquare Capital Management LLC grew its stake in shares of Intra-Cellular Therapies by 6.5% in the 3rd quarter. TimesSquare Capital Management LLC now owns 438,083 shares of the biopharmaceutical company’s stock valued at $32,055,000 after purchasing an additional 26,600 shares during the period. Finally, Cynosure Group LLC raised its holdings in shares of Intra-Cellular Therapies by 161.0% in the 3rd 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 in the last quarter. 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.