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

Research analysts at StockNews.com assumed coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report issued on Tuesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lifted their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Cantor Fitzgerald raised Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Piper Sandler reissued a “neutral” rating and issued a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Needham & Company LLC restated a “hold” rating on shares of Intra-Cellular Therapies in a report on Friday, February 21st. Finally, Leerink Partnrs lowered Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $106.08.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI opened at $131.28 on Tuesday. Intra-Cellular Therapies has a fifty-two week low of $63.30 and a fifty-two week high of $131.35. The stock’s 50-day moving average is $115.52 and its two-hundred day moving average is $92.12. The stock has a market cap of $13.96 billion, a PE ratio of -150.89 and a beta of 0.72.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its 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). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business had revenue of $199.22 million for the quarter, compared to analysts’ expectations of $205.08 million. On average, equities research analysts anticipate that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Insider Activity at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at $7,951,000. GF Fund Management CO. LTD. acquired a new position in Intra-Cellular Therapies during the fourth quarter worth $186,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Intra-Cellular Therapies by 3.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 335,319 shares of the biopharmaceutical company’s stock worth $28,006,000 after acquiring an additional 12,111 shares in the last quarter. Two Sigma Advisers LP acquired a new position in Intra-Cellular Therapies during the fourth quarter worth $11,966,000. Finally, Two Sigma Investments LP raised its stake in Intra-Cellular Therapies by 507.9% during the fourth quarter. Two Sigma Investments LP now owns 142,791 shares of the biopharmaceutical company’s stock worth $11,926,000 after acquiring an additional 119,301 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

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.