Leerink Partnrs Downgrades Intra-Cellular Therapies (NASDAQ:ITCI) to Hold

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

ITCI has been the topic of a number of other research reports. Royal Bank of Canada raised their target price on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an "outperform" rating in a research report on Friday, October 4th. Baird R W downgraded Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a report on Monday. Cantor Fitzgerald raised Intra-Cellular Therapies from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Morgan Stanley increased their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. boosted their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Intra-Cellular Therapies has a consensus rating of "Moderate Buy" and an average target price of $100.31.

Intra-Cellular Therapies Stock Performance

Shares of Intra-Cellular Therapies stock traded down $0.11 during trading on Monday, reaching $126.78. 6,591,784 shares of the company's stock were exchanged, compared to its average volume of 7,309,470. Intra-Cellular Therapies has a 1-year low of $62.78 and a 1-year high of $128.00. The company has a market cap of $13.44 billion, a P/E ratio of -145.72 and a beta of 0.70. The firm's 50-day moving average price is $87.14 and its 200 day moving average price is $79.68.

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

Insider Buying and Selling at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of the business's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sharon Mates sold 51,000 shares of the company'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 sale, 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 disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Institutional Trading of Intra-Cellular Therapies

Several large investors have recently modified their holdings of ITCI. Wasatch Advisors LP boosted its stake in Intra-Cellular Therapies by 3.5% during the third quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company's stock worth $281,601,000 after acquiring an additional 130,351 shares in the last quarter. Avoro Capital Advisors LLC raised its holdings in shares of Intra-Cellular Therapies by 21.2% during the second quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company's stock valued at $205,470,000 after purchasing an additional 525,000 shares during the period. Bellevue Group AG boosted its position in shares of Intra-Cellular Therapies by 0.6% during the 3rd quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company's stock worth $181,873,000 after purchasing an additional 14,342 shares in the last quarter. State Street Corp grew its stake in shares of Intra-Cellular Therapies by 3.1% in the 3rd quarter. State Street Corp now owns 1,858,915 shares of the biopharmaceutical company's stock valued at $136,017,000 after buying an additional 56,664 shares during the period. Finally, Franklin Resources Inc. increased its position in Intra-Cellular Therapies by 9.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company's stock valued at $129,463,000 after buying an additional 155,655 shares in the last quarter. Institutional investors and hedge funds 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.