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

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

A number of other research analysts also recently commented on ITCI. Baird R W downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $132.00 target price (up from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $132.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, April 2nd. Piper Sandler reissued a “neutral” rating and set a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Finally, Mizuho cut Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $140.00 to $132.00 in a research note on Monday, February 24th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $106.23.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI opened at $131.87 on Friday. The firm has a market capitalization of $14.05 billion, a price-to-earnings ratio of -151.57 and a beta of 0.69. The business has a fifty day moving average price of $130.48 and a 200-day moving average price of $104.97. Intra-Cellular Therapies has a one year low of $64.09 and a one year high of $131.98.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share 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 business had revenue of $199.22 million during the quarter, compared to the consensus estimate of $205.08 million. On average, equities research analysts expect that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Intra-Cellular Therapies by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 9,721,360 shares of the biopharmaceutical company’s stock worth $811,928,000 after purchasing an additional 93,107 shares during the period. Norges Bank purchased a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth $268,347,000. Invesco Ltd. raised its holdings in Intra-Cellular Therapies by 2.9% in the 4th quarter. Invesco Ltd. now owns 3,077,174 shares of the biopharmaceutical company’s stock valued at $257,006,000 after acquiring an additional 87,582 shares during the last quarter. Deep Track Capital LP grew its position in shares of 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 purchasing an additional 399,307 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Intra-Cellular Therapies by 3.1% in the 3rd quarter. State Street Corp now owns 1,858,915 shares of the biopharmaceutical company’s stock worth $136,017,000 after acquiring an additional 56,664 shares during the last quarter. Hedge funds and other institutional investors 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.