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

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

A number of other analysts have also recently issued reports on ITCI. Cantor Fitzgerald raised Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. 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 report on Tuesday, January 14th. Needham & Company LLC restated a “hold” rating on shares of Intra-Cellular Therapies in a research note on Friday, February 21st. Mizuho lowered Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $140.00 to $132.00 in a report on Monday, February 24th. Finally, Leerink Partnrs cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $106.08.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI opened at $131.25 on Tuesday. Intra-Cellular Therapies has a 12 month low of $63.30 and a 12 month high of $131.36. The firm has a market capitalization of $13.96 billion, a PE ratio of -150.86 and a beta of 0.72. The business’s fifty day moving average price is $118.27 and its 200 day moving average price is $93.05.

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). The company had revenue of $199.22 million for the quarter, compared to analyst estimates of $205.08 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. As a group, equities analysts anticipate that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Hedge Funds Weigh In On Intra-Cellular Therapies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Accredited Wealth Management LLC acquired a new stake in shares of Intra-Cellular Therapies in the fourth quarter valued at about $28,000. True Wealth Design LLC acquired a new stake in shares of Intra-Cellular Therapies during the 3rd quarter valued at approximately $32,000. GAMMA Investing LLC boosted its stake in shares of Intra-Cellular Therapies by 46.3% during the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 240 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Intra-Cellular Therapies in the third quarter valued at $74,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at $96,000. 92.33% of the stock is owned by institutional investors and hedge funds.

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.