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

StockNews.com initiated coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI - Free Report) in a report released on Sunday morning. The firm issued a hold rating on the biopharmaceutical company's stock.

ITCI has been the subject of several other research reports. Cantor Fitzgerald upgraded Intra-Cellular Therapies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Canaccord Genuity Group lowered Intra-Cellular Therapies from a "buy" rating to a "hold" rating and raised their price objective for the stock from $119.00 to $132.00 in a report on Friday, January 31st. Royal Bank of Canada reissued a "sector perform" rating and issued a $132.00 target price (up from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Baird R W lowered Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. increased their price objective on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $103.62.

Intra-Cellular Therapies Trading Up 0.5 %

Shares of ITCI stock traded up $0.64 on Friday, reaching $128.60. 2,578,517 shares of the stock were exchanged, compared to its average volume of 4,367,847. The company has a market capitalization of $13.67 billion, a price-to-earnings ratio of -147.81 and a beta of 0.72. The business's 50 day moving average price is $106.66 and its 200 day moving average price is $88.38. Intra-Cellular Therapies has a twelve month low of $62.78 and a twelve month high of $128.75.

Insiders Place Their Bets

In related news, CEO Sharon Mates sold 51,000 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,070,329 shares in the company, valued at $91,834,228.20. This represents a 4.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Intra-Cellular Therapies

A number of institutional investors have recently bought and sold shares of ITCI. Accredited Wealth Management LLC acquired a new position in shares of Intra-Cellular Therapies during the 4th quarter worth $28,000. True Wealth Design LLC acquired a new position in Intra-Cellular Therapies during the third quarter worth about $32,000. GAMMA Investing LLC lifted its holdings 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 valued at $63,000 after purchasing an additional 240 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Intra-Cellular Therapies in the third quarter valued at approximately $74,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $96,000. 92.33% of the stock is currently 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.