Needham & Company LLC Reaffirms Hold Rating for Intra-Cellular Therapies (NASDAQ:ITCI)

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report)'s stock had its "hold" rating reissued by Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports.

A number of other research firms have also recently issued reports on ITCI. JPMorgan Chase & Co. boosted 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. Piper Sandler reissued a "neutral" rating and set a $132.00 target price (up from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Canaccord Genuity Group downgraded shares of Intra-Cellular Therapies from a "buy" rating to a "hold" rating and raised their price target for the stock from $119.00 to $132.00 in a research note on Friday, January 31st. Cantor Fitzgerald upgraded shares of Intra-Cellular Therapies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th. Finally, Leerink Partnrs downgraded shares of Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 13th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $106.08.

Intra-Cellular Therapies Trading Down 0.0 %

Shares of ITCI stock traded down $0.05 during trading hours on Friday, reaching $128.53. 1,466,076 shares of the stock were exchanged, compared to its average volume of 4,048,619. The firm has a market capitalization of $13.67 billion, a price-to-earnings ratio of -147.73 and a beta of 0.72. Intra-Cellular Therapies has a 12-month low of $63.30 and a 12-month high of $128.77. The company's 50-day moving average price is $111.14 and its 200-day moving average price is $90.22.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last announced its quarterly earnings data on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.08). The firm had revenue of $199.22 million during the quarter, compared to the consensus estimate of $205.08 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. On average, sell-side analysts expect that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insiders Place Their Bets

In other 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 transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This trade represents a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Intra-Cellular Therapies in the fourth quarter worth about $268,347,000. Raymond James Financial Inc. purchased a new position in shares of Intra-Cellular Therapies in the 4th quarter worth approximately $76,451,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Intra-Cellular Therapies by 266.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 678,000 shares of the biopharmaceutical company's stock worth $56,627,000 after acquiring an additional 493,000 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in Intra-Cellular Therapies by 91.8% during the fourth quarter. TimesSquare Capital Management LLC now owns 840,269 shares of the biopharmaceutical company's stock valued at $70,179,000 after acquiring an additional 402,186 shares during the last quarter. Finally, Deep Track Capital LP boosted its stake in Intra-Cellular Therapies by 24.9% in the fourth quarter. Deep Track Capital LP now owns 2,000,000 shares of the biopharmaceutical company's stock valued at $167,040,000 after acquiring an additional 399,307 shares in the last quarter. Institutional investors 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.