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

Needham & Company LLC reaffirmed their hold rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report published on Monday,Benzinga reports. Needham & Company LLC currently has a $100.00 target price on the biopharmaceutical company’s stock.

A number of other brokerages have also issued reports on ITCI. Royal Bank of Canada lifted their price target on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a report on Monday, September 16th. JPMorgan Chase & Co. raised their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Morgan Stanley upped their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.23.

Intra-Cellular Therapies Trading Up 34.1 %

ITCI stock opened at $127.19 on Monday. The company has a market cap of $13.48 billion, a PE ratio of -146.19 and a beta of 0.70. Intra-Cellular Therapies has a 12-month low of $62.78 and a 12-month high of $128.00. The stock has a 50-day moving average price of $86.39 and a two-hundred day moving average price of $79.26.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The company had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. Intra-Cellular Therapies’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.25) EPS. Equities analysts forecast that Intra-Cellular Therapies will post -0.64 EPS for the current fiscal year.

Insider Activity

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies 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 owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Michael Halstead sold 22,869 shares of the firm’s stock in a transaction dated 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. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC raised its stake in shares of Intra-Cellular Therapies by 282.0% in the 3rd quarter. Barclays PLC now owns 34,453 shares of the biopharmaceutical company’s stock valued at $2,521,000 after purchasing an additional 25,435 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Intra-Cellular Therapies by 31.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock valued at $33,258,000 after buying an additional 109,892 shares during the last quarter. Principal Financial Group Inc. boosted its position in Intra-Cellular Therapies by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 597,713 shares of the biopharmaceutical company’s stock worth $43,735,000 after acquiring an additional 18,865 shares during the last quarter. TimesSquare Capital Management LLC grew its stake in shares of Intra-Cellular Therapies by 6.5% during the 3rd quarter. TimesSquare Capital Management LLC now owns 438,083 shares of the biopharmaceutical company’s stock worth $32,055,000 after acquiring an additional 26,600 shares in the last quarter. Finally, Cynosure Group LLC raised its holdings in shares of Intra-Cellular Therapies by 161.0% in the third quarter. Cynosure Group LLC now owns 14,442 shares of the biopharmaceutical company’s stock valued at $1,057,000 after purchasing an additional 8,909 shares during the last quarter. 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.