Intra-Cellular Therapies' (ITCI) Hold Rating Reiterated at Needham & Company LLC

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report)'s stock had its "hold" rating reiterated by analysts at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They presently have a $100.00 price objective on the biopharmaceutical company's stock. Needham & Company LLC's target price points to a potential downside of 21.38% from the stock's previous close.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price target on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Morgan Stanley lifted 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. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Finally, Royal Bank of Canada boosted their target price on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $97.23.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ:ITCI traded up $32.32 on Monday, hitting $127.19. The company's stock had a trading volume of 35,893,401 shares, compared to its average volume of 6,105,770. Intra-Cellular Therapies has a 12 month low of $62.78 and a 12 month high of $128.00. The company has a market capitalization of $13.48 billion, a price-to-earnings ratio of -146.19 and a beta of 0.70. The stock's 50-day moving average is $86.39 and its two-hundred day moving average is $79.26.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last released its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The firm had revenue of $175.40 million during the quarter, compared to analysts' expectations 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 business's revenue was up 39.0% on a year-over-year basis. During the same period last year, the business earned ($0.25) earnings per share. Equities 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 related news, CEO Sharon Mates sold 51,000 shares of the business's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total transaction 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 represents a 4.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael Halstead sold 22,869 shares of the company's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ITCI. True Wealth Design LLC acquired a new position in Intra-Cellular Therapies in the third quarter valued at about $32,000. GAMMA Investing LLC lifted its position in shares of Intra-Cellular Therapies by 46.3% during 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 third quarter valued at approximately $74,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Intra-Cellular Therapies in the third quarter valued at approximately $97,000. Finally, Quarry LP raised its position 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 purchasing an additional 1,300 shares during 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.