Baird R W Downgrades Intra-Cellular Therapies (NASDAQ:ITCI) to Hold

Baird R W cut 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,Zacks.com reports.

Several other brokerages have also recently weighed in on ITCI. Morgan Stanley upped their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Cantor Fitzgerald reissued an "overweight" rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Piper Sandler reaffirmed a "neutral" rating and set a $132.00 price target (up from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday. Royal Bank of Canada boosted their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. increased their target price 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 investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.31.

Intra-Cellular Therapies Trading Down 0.1 %

ITCI stock traded down $0.11 during trading on Monday, hitting $126.78. The company had a trading volume of 6,591,784 shares, compared to its average volume of 7,309,470. The company has a fifty day moving average price of $87.14 and a two-hundred day moving average price of $79.68. Intra-Cellular Therapies has a fifty-two week low of $62.78 and a fifty-two week 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.

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). 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 during the quarter, compared to analyst estimates of $172.30 million. During the same quarter in the prior year, the firm posted ($0.25) EPS. The firm's revenue for the quarter was up 39.0% on a year-over-year basis. On average, analysts expect that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In related 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 transaction of $4,375,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares of the company's stock, valued at $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Michael Halstead sold 22,869 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were 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. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

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

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.