Intra-Cellular Therapies (NASDAQ:ITCI) Cut to “Hold” at Canaccord Genuity Group

Canaccord Genuity Group cut shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a buy rating to a hold rating in a report published on Friday morning, Marketbeat.com reports. They currently have $132.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $119.00.

A number of other equities analysts have also recently weighed in on ITCI. JPMorgan Chase & Co. upped their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Morgan Stanley upped their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Piper Sandler reiterated a “neutral” rating and issued 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 report on Tuesday, January 14th. Finally, StockNews.com started coverage on shares of Intra-Cellular Therapies in a research report on Friday. They issued a “hold” rating for the company. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Intra-Cellular Therapies has a consensus rating of “Moderate Buy” and a consensus target price of $103.62.

Intra-Cellular Therapies Trading Up 0.1 %

Shares of ITCI stock opened at $127.08 on Friday. The stock has a market cap of $13.47 billion, a P/E ratio of -146.07 and a beta of 0.70. The stock has a 50 day moving average of $97.45 and a 200 day moving average of $84.54. Intra-Cellular Therapies has a twelve month low of $62.78 and a twelve month high of $128.00.

Insider Transactions at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $91,834,228.20. This trade represents a 4.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction on 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.

Hedge Funds Weigh In On Intra-Cellular Therapies

Institutional investors and hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC acquired a new position in shares of Intra-Cellular Therapies during the 3rd quarter worth $32,000. GAMMA Investing LLC grew its stake in shares of Intra-Cellular Therapies by 46.3% during the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 240 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Intra-Cellular Therapies during the 3rd quarter worth $74,000. Venturi Wealth Management LLC acquired a new position in shares of Intra-Cellular Therapies during the 4th quarter worth $96,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Intra-Cellular Therapies during the 3rd quarter worth $97,000. 92.33% of the stock is owned by institutional investors and hedge funds.

About Intra-Cellular Therapies

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.