Intra-Cellular Therapies (NASDAQ:ITCI) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research note issued to investors on Friday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Other analysts have also recently issued reports about the company. Morgan Stanley upped their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Leerink Partnrs cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Cantor Fitzgerald raised Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Royal Bank of Canada reiterated a “sector perform” rating and set a $132.00 price target (up from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Intra-Cellular Therapies currently has an average rating of “Moderate Buy” and an average price target of $103.62.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI opened at $127.08 on Friday. Intra-Cellular Therapies has a twelve month low of $62.78 and a twelve month high of $128.00. The company’s 50-day moving average price is $97.45 and its 200-day moving average price is $84.45.

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

Insider Buying and Selling

In other news, President Michael Halstead sold 22,869 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the business’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 sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Institutional investors and hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC purchased a new position in Intra-Cellular Therapies during the 3rd quarter worth approximately $32,000. GAMMA Investing LLC increased its holdings in shares of 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 acquiring an additional 240 shares during the period. Capital Performance Advisors LLP acquired a new stake in Intra-Cellular Therapies during the 3rd quarter worth $74,000. Venturi Wealth Management LLC purchased a new position in Intra-Cellular Therapies during the 4th quarter worth $96,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Intra-Cellular Therapies in the third quarter valued at $97,000. 92.33% of the stock is owned by hedge funds and other institutional investors.

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.