Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) have received an average rating of “Hold” from the fifteen analysts that are presently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $106.08.

Several research firms have commented on ITCI. Leerink Partnrs cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Canaccord Genuity Group lowered shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $119.00 to $132.00 in a research report on Friday, January 31st. StockNews.com initiated coverage on shares of Intra-Cellular Therapies in a research report on Tuesday. They issued a “hold” rating for the company. Mizuho cut shares of Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $140.00 to $132.00 in a research report on Monday, February 24th. Finally, Piper Sandler restated a “neutral” rating and set a $132.00 price objective (up from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of hedge funds have recently added to or reduced their stakes in ITCI. Norges Bank bought a new stake in Intra-Cellular Therapies in the fourth quarter valued at $268,347,000. Raymond James Financial Inc. bought a new position in shares of Intra-Cellular Therapies in the 4th quarter worth $76,451,000. Adage Capital Partners GP L.L.C. grew its position in Intra-Cellular Therapies by 266.5% in 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 purchasing an additional 493,000 shares during the period. TimesSquare Capital Management LLC increased its stake in Intra-Cellular Therapies by 91.8% during the 4th quarter. TimesSquare Capital Management LLC now owns 840,269 shares of the biopharmaceutical company’s stock valued at $70,179,000 after purchasing an additional 402,186 shares in the last quarter. Finally, Deep Track Capital LP increased its stake in Intra-Cellular Therapies by 24.9% during 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 in the last quarter. 92.33% of the stock is currently owned by institutional investors.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ ITCI opened at $131.24 on Wednesday. Intra-Cellular Therapies has a 52-week low of $63.30 and a 52-week high of $131.36. The stock has a market cap of $13.95 billion, a P/E ratio of -150.85 and a beta of 0.72. The firm has a 50 day moving average price of $116.44 and a 200 day moving average price of $92.52.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.08). The business had revenue of $199.22 million during the quarter, compared to the consensus estimate 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 predict that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

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.