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

Analysts at StockNews.com assumed coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research note issued on Monday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Several other research analysts also recently weighed in on ITCI. Cantor Fitzgerald upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Needham & Company LLC reissued a “hold” rating on shares of Intra-Cellular Therapies in a research report on Friday, February 21st. JPMorgan Chase & Co. raised their price target on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 4th. 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, Royal Bank of Canada restated a “sector perform” rating and issued a $132.00 price target (up previously from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Intra-Cellular Therapies has a consensus rating of “Hold” and a consensus price target of $106.08.

Intra-Cellular Therapies Trading Down 0.0 %

Shares of Intra-Cellular Therapies stock opened at $128.53 on Monday. Intra-Cellular Therapies has a 12-month low of $63.30 and a 12-month high of $128.77. The stock has a market cap of $13.67 billion, a price-to-earnings ratio of -147.73 and a beta of 0.72. The company has a fifty day simple moving average of $111.14 and a 200-day simple moving average of $90.22.

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

Insider Activity

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of institutional investors have recently bought and sold shares of ITCI. GF Fund Management CO. LTD. purchased a new stake in shares of Intra-Cellular Therapies in the 4th quarter valued at approximately $186,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Intra-Cellular Therapies by 3.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 335,319 shares of the biopharmaceutical company’s stock valued at $28,006,000 after purchasing an additional 12,111 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in Intra-Cellular Therapies in the 4th quarter worth about $11,966,000. Two Sigma Investments LP boosted its position in Intra-Cellular Therapies by 507.9% during the 4th quarter. Two Sigma Investments LP now owns 142,791 shares of the biopharmaceutical company’s stock worth $11,926,000 after acquiring an additional 119,301 shares during the period. Finally, Tidal Investments LLC grew its stake in Intra-Cellular Therapies by 4.5% during the 4th quarter. Tidal Investments LLC now owns 5,027 shares of the biopharmaceutical company’s stock valued at $420,000 after acquiring an additional 215 shares in the last quarter. Hedge funds and other 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.