Intra-Cellular Therapies (NASDAQ:ITCI) Earns Hold Rating from Needham & Company LLC

Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports.

Other equities analysts have also recently issued research reports about the stock. Leerink Partnrs cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. boosted their price target on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. 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. Baird R W cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Canaccord Genuity Group cut shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and boosted their price target for the company from $119.00 to $132.00 in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Intra-Cellular Therapies currently has a consensus rating of “Moderate Buy” and an average target price of $103.62.

Intra-Cellular Therapies Trading Up 0.0 %

Shares of NASDAQ:ITCI opened at $128.60 on Friday. The company has a market cap of $13.67 billion, a price-to-earnings ratio of -147.81 and a beta of 0.72. The company has a 50-day moving average price of $110.27 and a 200-day moving average price of $89.72. Intra-Cellular Therapies has a 12 month low of $62.78 and a 12 month high of $128.77.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Friday, February 21st. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.08). The firm had revenue of $199.22 million for the quarter, compared to the consensus estimate of $205.08 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. As a group, research analysts forecast that Intra-Cellular Therapies will post -0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Sharon Mates sold 51,000 shares of the 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 in the company, valued at $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of institutional investors have recently made changes to their positions in ITCI. Raymond James & Associates grew its holdings in shares of Intra-Cellular Therapies by 2.8% during the third quarter. Raymond James & Associates now owns 158,852 shares of the biopharmaceutical company’s stock valued at $11,623,000 after buying an additional 4,325 shares during the last quarter. Lecap Asset Management Ltd. purchased a new stake in shares of Intra-Cellular Therapies during the third quarter valued at approximately $499,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Intra-Cellular Therapies by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the biopharmaceutical company’s stock valued at $280,000 after purchasing an additional 670 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Intra-Cellular Therapies by 185.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 8,810 shares of the biopharmaceutical company’s stock valued at $645,000 after purchasing an additional 5,725 shares during the period. Finally, abrdn plc lifted its position in Intra-Cellular Therapies by 7.5% during the third quarter. abrdn plc now owns 250,963 shares of the biopharmaceutical company’s stock valued at $18,363,000 after purchasing an additional 17,612 shares during the period. Hedge funds and other institutional investors 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.