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

StockNews.com began coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCIGet Rating) in a report released on Thursday. The firm issued a hold rating on the biopharmaceutical company’s stock.

ITCI has been the subject of several other research reports. Cantor Fitzgerald reissued an overweight rating and set a $83.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, February 1st. Needham & Company LLC reissued a buy rating and set a $70.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, March 1st. Royal Bank of Canada cut their target price on Intra-Cellular Therapies from $75.00 to $71.00 and set an outperform rating for the company in a research note on Thursday, March 2nd. JPMorgan Chase & Co. cut their target price on Intra-Cellular Therapies from $59.00 to $58.00 and set an overweight rating for the company in a research note on Thursday, March 9th. Finally, Mizuho cut their target price on Intra-Cellular Therapies from $72.00 to $66.00 in a research note on Friday, March 3rd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $69.40.

Intra-Cellular Therapies Stock Performance

Intra-Cellular Therapies stock traded up $0.74 during trading on Thursday, reaching $45.99. 962,293 shares of the company were exchanged, compared to its average volume of 832,482. Intra-Cellular Therapies has a 52-week low of $42.01 and a 52-week high of $66.00. The stock’s 50 day simple moving average is $47.77 and its two-hundred day simple moving average is $49.11.

Intra-Cellular Therapies (NASDAQ:ITCIGet Rating) last announced its quarterly earnings data on Wednesday, March 1st. The biopharmaceutical company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.17. Intra-Cellular Therapies had a negative return on equity of 35.88% and a negative net margin of 102.37%. The firm had revenue of $87.87 million for the quarter, compared to the consensus estimate of $86.97 million. During the same quarter last year, the business posted ($1.05) earnings per share. The firm’s revenue was up 242.3% compared to the same quarter last year. On average, research analysts predict that Intra-Cellular Therapies will post -2.43 EPS for the current year.

Insider Activity

In other news, EVP Mark Neumann sold 3,898 shares of Intra-Cellular Therapies stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $47.01, for a total value of $183,244.98. Following the completion of the sale, the executive vice president now directly owns 52,580 shares of the company’s stock, valued at $2,471,785.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Lawrence J. Hineline sold 53,968 shares of the business’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $49.83, for a total transaction of $2,689,225.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Neumann sold 3,898 shares of the business’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $47.01, for a total value of $183,244.98. Following the transaction, the executive vice president now directly owns 52,580 shares of the company’s stock, valued at $2,471,785.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 258,223 shares of company stock valued at $12,003,584. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ITCI. Wellington Management Group LLP purchased a new stake in Intra-Cellular Therapies during the 1st quarter worth about $248,502,000. JPMorgan Chase & Co. lifted its holdings in Intra-Cellular Therapies by 697.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,497,914 shares of the biopharmaceutical company’s stock worth $79,269,000 after buying an additional 1,310,130 shares during the last quarter. Norges Bank purchased a new stake in Intra-Cellular Therapies during the 4th quarter worth about $55,136,000. Vanguard Group Inc. lifted its holdings in Intra-Cellular Therapies by 13.3% during the 1st quarter. Vanguard Group Inc. now owns 7,788,469 shares of the biopharmaceutical company’s stock worth $476,577,000 after buying an additional 912,268 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Intra-Cellular Therapies by 13.1% during the 1st quarter. BlackRock Inc. now owns 6,470,417 shares of the biopharmaceutical company’s stock worth $395,924,000 after buying an additional 748,651 shares during the last quarter. 86.95% of the stock is owned by institutional investors and hedge funds.

Intra-Cellular Therapies Company Profile

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Intra-Cellular Therapies, Inc operates as a biopharmaceutical company. It focuses on the discovery and clinical development of small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system, or CNS.

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