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

Baird R W downgraded shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

ITCI has been the subject of several other research reports. JPMorgan Chase & Co. increased their price objective 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. Royal Bank of Canada increased their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Needham & Company LLC restated a “hold” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a report on Monday. Piper Sandler restated a “neutral” rating and issued a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $100.31.

Intra-Cellular Therapies Trading Down 0.2 %

NASDAQ:ITCI opened at $126.89 on Monday. Intra-Cellular Therapies has a 1 year low of $62.78 and a 1 year high of $128.00. The stock has a 50-day moving average price of $87.14 and a two-hundred day moving average price of $79.68. The stock has a market cap of $13.45 billion, a price-to-earnings ratio of -145.85 and a beta of 0.70.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The business had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. Intra-Cellular Therapies’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.25) earnings per share. Sell-side analysts forecast that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was 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 of the company’s stock, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale increased its holdings in shares of Intra-Cellular Therapies by 1.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 52,499 shares of the biopharmaceutical company’s stock worth $3,714,000 after purchasing an additional 502 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Intra-Cellular Therapies by 21.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 35,492 shares of the biopharmaceutical company’s stock worth $2,431,000 after purchasing an additional 6,382 shares during the period. Renaissance Technologies LLC grew its stake in Intra-Cellular Therapies by 130.0% during the second quarter. Renaissance Technologies LLC now owns 222,400 shares of the biopharmaceutical company’s stock worth $15,232,000 after buying an additional 125,700 shares in the last quarter. Virtu Financial LLC acquired a new stake in Intra-Cellular Therapies during the second quarter worth about $1,420,000. Finally, Amalgamated Bank increased its holdings in Intra-Cellular Therapies by 117.3% in the 2nd quarter. Amalgamated Bank now owns 6,922 shares of the biopharmaceutical company’s stock valued at $474,000 after buying an additional 3,736 shares during the period. Institutional investors and hedge funds 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.