Intra-Cellular Therapies (NASDAQ:ITCI) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report released on Thursday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

ITCI has been the topic of a number of other reports. Royal Bank of Canada reissued a “sector perform” rating and set a $132.00 target price (up from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday. Piper Sandler reissued a “neutral” rating and set a $132.00 target price (up from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Cantor Fitzgerald upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Baird R W cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Leerink Partnrs cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.15.

Intra-Cellular Therapies Stock Up 0.5 %

ITCI stock opened at $127.15 on Thursday. Intra-Cellular Therapies has a twelve month low of $62.78 and a twelve month high of $128.00. The company has a market cap of $13.48 billion, a PE ratio of -146.15 and a beta of 0.70. The business’s 50-day simple moving average is $90.75 and its 200 day simple moving average is $81.70.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share 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 firm had revenue of $175.40 million for the quarter, compared to analyst estimates of $172.30 million. During the same period last year, the business earned ($0.25) earnings per share. The firm’s quarterly revenue was up 39.0% compared to the same quarter last year. On average, equities research analysts anticipate that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insider Activity

In related news, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sharon Mates sold 51,000 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. This trade represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Intra-Cellular Therapies

A number of institutional investors have recently bought and sold shares of the business. Perceptive Advisors LLC grew its holdings in shares of Intra-Cellular Therapies by 62.6% in the 2nd quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock valued at $117,557,000 after buying an additional 661,052 shares during the period. Millennium Management LLC grew its holdings in shares of Intra-Cellular Therapies by 214.5% in the 2nd quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock valued at $60,895,000 after buying an additional 606,358 shares during the period. Marshall Wace LLP acquired a new position in shares of Intra-Cellular Therapies in the 2nd quarter valued at $34,178,000. Point72 Asset Management L.P. grew its holdings in shares of Intra-Cellular Therapies by 218.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 554,186 shares of the biopharmaceutical company’s stock valued at $37,956,000 after buying an additional 380,420 shares during the period. Finally, Eagle Asset Management Inc. grew its holdings in shares of Intra-Cellular Therapies by 130.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 624,759 shares of the biopharmaceutical company’s stock valued at $45,714,000 after buying an additional 353,723 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.