Intra-Cellular Therapies (NASDAQ:ITCI) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research report sent to investors on Friday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Intra-Cellular Therapies in a report on Friday, February 21st. Mizuho downgraded shares of Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $140.00 to $132.00 in a research note on Monday, February 24th. Canaccord Genuity Group cut Intra-Cellular Therapies from a “buy” rating to a “hold” rating and increased their target price for the company from $119.00 to $132.00 in a research report on Friday, January 31st. Leerink Partnrs 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 set a $132.00 price objective (up from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Intra-Cellular Therapies presently has a consensus rating of “Hold” and a consensus price target of $106.08.

Intra-Cellular Therapies Price Performance

Shares of ITCI opened at $131.81 on Friday. The company has a 50-day moving average of $129.12 and a 200 day moving average of $99.80. Intra-Cellular Therapies has a 1-year low of $64.09 and a 1-year high of $131.87. The firm has a market capitalization of $14.04 billion, a price-to-earnings ratio of -151.50 and a beta of 0.69.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). The firm had revenue of $199.22 million for 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, equities analysts anticipate that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. M&T Bank Corp raised its stake in Intra-Cellular Therapies by 2.2% in the 4th quarter. M&T Bank Corp now owns 6,301 shares of the biopharmaceutical company’s stock worth $526,000 after acquiring an additional 138 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Intra-Cellular Therapies by 1.6% in 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 last quarter. CIBC Asset Management Inc raised its stake in shares of Intra-Cellular Therapies by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 2,956 shares of the biopharmaceutical company’s stock worth $247,000 after purchasing an additional 150 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of Intra-Cellular Therapies by 6.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock worth $266,000 after purchasing an additional 192 shares during the period. Finally, Arizona State Retirement System boosted its position in Intra-Cellular Therapies by 0.8% in the fourth quarter. Arizona State Retirement System now owns 27,565 shares of the biopharmaceutical company’s stock valued at $2,302,000 after buying an additional 206 shares during 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.