Intra-Cellular Therapies (NASDAQ:ITCI) Cut to Hold at Baird R W

Baird R W downgraded shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 target price on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Royal Bank of Canada lifted their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. increased their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Piper Sandler restated a “neutral” rating and set a $132.00 price target (up from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday. Finally, Needham & Company LLC reiterated a “hold” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a research note on Monday. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.31.

Intra-Cellular Therapies Stock Down 0.1 %

Shares of ITCI stock opened at $126.71 on Monday. The business’s fifty day moving average is $87.89 and its 200 day moving average is $80.00. The stock has a market cap of $13.43 billion, a price-to-earnings ratio of -145.64 and a beta of 0.70. Intra-Cellular Therapies has a twelve month low of $62.78 and a twelve month high of $128.00.

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

Insider Activity at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. True Wealth Design LLC bought a new stake in Intra-Cellular Therapies during the 3rd quarter worth approximately $32,000. GAMMA Investing LLC increased its stake in shares of Intra-Cellular Therapies by 46.3% in the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 240 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Intra-Cellular Therapies during the 3rd quarter valued at $74,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Intra-Cellular Therapies during the 3rd quarter valued at $97,000. Finally, Quarry LP boosted its holdings in Intra-Cellular Therapies by 260.0% in the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 1,300 shares during the period. 92.33% of the stock is owned by hedge funds and other institutional investors.

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.