Intra-Cellular Therapies (NASDAQ:ITCI) Lowered to Neutral Rating by Mizuho

Mizuho lowered shares of Intra-Cellular Therapies (NASDAQ:ITCI) from an outperform rating to a neutral rating in a research report sent to investors on Monday morning, Marketbeat reports. The firm currently has $132.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $140.00.

ITCI has been the subject of several other research reports. Baird R W downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $132.00 price objective (up from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Leerink Partnrs downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Needham & Company LLC restated a “hold” rating on shares of Intra-Cellular Therapies in a report on Friday. Finally, Piper Sandler reissued a “neutral” rating and issued a $132.00 price objective (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $106.08.

Intra-Cellular Therapies Price Performance

Shares of ITCI opened at $128.57 on Monday. The firm has a market capitalization of $13.67 billion, a P/E ratio of -147.78 and a beta of 0.72. The business has a fifty day moving average of $111.14 and a 200 day moving average of $90.22. Intra-Cellular Therapies has a one year low of $63.30 and a one year high of $128.77.

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

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction dated Wednesday, December 4th. The stock was 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 owns 1,070,329 shares in the company, valued at $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Intra-Cellular Therapies in the 4th quarter worth approximately $268,347,000. Raymond James Financial Inc. purchased a new position in shares of Intra-Cellular Therapies during the fourth quarter worth $76,451,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Intra-Cellular Therapies by 266.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 678,000 shares of the biopharmaceutical company’s stock valued at $56,627,000 after buying an additional 493,000 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in Intra-Cellular Therapies by 91.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 840,269 shares of the biopharmaceutical company’s stock valued at $70,179,000 after acquiring an additional 402,186 shares during the period. Finally, Deep Track Capital LP lifted its stake in shares of Intra-Cellular Therapies by 24.9% in the 4th quarter. Deep Track Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock valued at $167,040,000 after purchasing an additional 399,307 shares during the period. 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.