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

Equities researchers at StockNews.com assumed coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also issued reports on the stock. Mizuho lowered shares of Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $140.00 to $132.00 in a research report on Monday, February 24th. Cantor Fitzgerald raised shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Canaccord Genuity Group lowered shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and upped their price target for the company from $119.00 to $132.00 in a report on Friday, January 31st. Royal Bank of Canada reiterated a “sector perform” rating and set a $132.00 price objective (up previously from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Intra-Cellular Therapies in a research note on Friday, February 21st. 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 company. According to data from MarketBeat, Intra-Cellular Therapies has a consensus rating of “Hold” and a consensus price target of $106.08.

Intra-Cellular Therapies Trading Down 0.0 %

NASDAQ:ITCI opened at $131.19 on Tuesday. The firm has a fifty day simple moving average of $117.36 and a 200-day simple moving average of $92.79. Intra-Cellular Therapies has a 12 month low of $63.30 and a 12 month high of $131.36. The company has a market capitalization of $13.95 billion, a P/E ratio of -150.79 and a beta of 0.72.

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

Institutional Investors Weigh In On Intra-Cellular Therapies

Institutional investors have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Intra-Cellular Therapies during the fourth quarter worth $7,951,000. GF Fund Management CO. LTD. purchased a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth about $186,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Intra-Cellular Therapies by 3.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 335,319 shares of the biopharmaceutical company’s stock worth $28,006,000 after purchasing an additional 12,111 shares during the last quarter. Two Sigma Advisers LP purchased a new position in Intra-Cellular Therapies in the 4th quarter valued at about $11,966,000. Finally, Two Sigma Investments LP boosted its holdings in Intra-Cellular Therapies by 507.9% in the 4th quarter. Two Sigma Investments LP now owns 142,791 shares of the biopharmaceutical company’s stock worth $11,926,000 after buying an additional 119,301 shares during the last quarter. 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.