StockNews.com Initiates Coverage on Intra-Cellular Therapies (NASDAQ:ITCI)

StockNews.com assumed coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI - Free Report) in a research report sent to investors on Thursday morning. The brokerage issued a hold rating on the biopharmaceutical company's stock.

Other equities research analysts have also issued research reports about the stock. Baird R W lowered shares of Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 13th. Piper Sandler reaffirmed a "neutral" rating and set a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Cantor Fitzgerald raised Intra-Cellular Therapies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Needham & Company LLC restated a "hold" rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, January 13th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $132.00 target price (up previously from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Intra-Cellular Therapies currently has an average rating of "Moderate Buy" and a consensus price target of $102.15.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI traded down $0.08 during midday trading on Thursday, reaching $127.07. 4,917,120 shares of the company traded hands, compared to its average volume of 7,021,301. The firm has a market capitalization of $13.47 billion, a price-to-earnings ratio of -146.06 and a beta of 0.70. The company has a fifty day moving average price of $91.53 and a 200 day moving average price of $82.02. Intra-Cellular Therapies has a twelve month low of $62.78 and a twelve month high of $128.00.

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

Insider Transactions at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were 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 $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Michael Halstead sold 22,869 shares of the business's stock in a transaction that occurred 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 disclosure for this sale can be found here. Corporate insiders own 2.60% of the company's stock.

Institutional Trading of Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Avior Wealth Management LLC boosted its stake in Intra-Cellular Therapies by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company's stock valued at $327,000 after purchasing an additional 131 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Intra-Cellular Therapies by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company's stock worth $748,000 after buying an additional 141 shares during the last quarter. Pallas Capital Advisors LLC boosted its position in shares of Intra-Cellular Therapies by 6.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company's stock valued at $266,000 after acquiring an additional 192 shares during the period. Assetmark Inc. grew its stake in shares of Intra-Cellular Therapies by 9.1% in the third quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company's stock worth $181,000 after acquiring an additional 207 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in Intra-Cellular Therapies by 0.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 35,673 shares of the biopharmaceutical company's stock worth $2,610,000 after acquiring an additional 223 shares during the period. Institutional investors and hedge funds own 92.33% of the company's stock.

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.