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

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

Other analysts have also issued research reports about the stock. Canaccord Genuity Group lowered shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and lifted their target price for the company from $119.00 to $132.00 in a research report on Friday, January 31st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $132.00 price objective (up from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Cantor Fitzgerald raised Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Mizuho downgraded Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $140.00 to $132.00 in a research report on Monday, February 24th. Finally, Piper Sandler reissued a “neutral” rating and issued a $132.00 price objective (up from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Intra-Cellular Therapies presently has an average rating of “Hold” and an average target price of $106.08.

Intra-Cellular Therapies Trading Up 0.0 %

Shares of NASDAQ:ITCI opened at $131.81 on Friday. Intra-Cellular Therapies has a 12-month low of $64.09 and a 12-month high of $131.87. The business has a 50 day moving average of $129.12 and a two-hundred day moving average of $99.80. The company has a market capitalization of $14.04 billion, a PE ratio of -151.50 and a beta of 0.69.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced 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). 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. Equities research analysts predict that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of institutional investors have recently bought and sold shares of the company. Accredited Wealth Management LLC acquired a new stake in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $28,000. True Wealth Design LLC purchased a new position in shares of Intra-Cellular Therapies during the 3rd quarter worth approximately $32,000. GAMMA Investing LLC increased its holdings in Intra-Cellular Therapies by 46.3% in the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 240 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in Intra-Cellular Therapies in the 4th quarter valued at approximately $96,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Intra-Cellular Therapies in the third quarter valued at approximately $97,000. 92.33% of the stock is owned by hedge funds and other institutional investors.

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.