Intra-Cellular Therapies (NASDAQ:ITCI) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report released on Thursday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

ITCI has been the subject of several other reports. Mizuho lowered Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $140.00 to $132.00 in a research note on Monday, February 24th. Needham & Company LLC restated a “hold” rating on shares of Intra-Cellular Therapies in a research note on Friday, February 21st. Royal Bank of Canada restated a “sector perform” rating and set a $132.00 price target (up from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Piper Sandler restated a “neutral” rating and set a $132.00 price target (up from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Finally, Leerink Partnrs lowered Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Ten equities research 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $106.08.

Intra-Cellular Therapies Stock Up 0.0 %

Shares of NASDAQ:ITCI opened at $131.65 on Thursday. The company has a market cap of $14.00 billion, a P/E ratio of -151.32 and a beta of 0.69. The business has a fifty day simple moving average of $128.61 and a 200-day simple moving average of $97.41. Intra-Cellular Therapies has a 52 week low of $64.09 and a 52 week high of $131.67.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.08). The business had revenue of $199.22 million during the quarter, compared to analyst estimates of $205.08 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. Sell-side analysts expect that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ITCI. Atria Investments Inc boosted its holdings in Intra-Cellular Therapies by 41.1% in the third quarter. Atria Investments Inc now owns 5,137 shares of the biopharmaceutical company’s stock valued at $376,000 after purchasing an additional 1,497 shares during the last quarter. KBC Group NV boosted its holdings in Intra-Cellular Therapies by 17.3% in the third quarter. KBC Group NV now owns 2,864 shares of the biopharmaceutical company’s stock valued at $210,000 after purchasing an additional 423 shares during the last quarter. CIBC Asset Management Inc purchased a new position in Intra-Cellular Therapies in the third quarter valued at about $205,000. Swiss National Bank boosted its holdings in Intra-Cellular Therapies by 8.1% in the third quarter. Swiss National Bank now owns 185,500 shares of the biopharmaceutical company’s stock valued at $13,573,000 after purchasing an additional 13,900 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Intra-Cellular Therapies in the third quarter valued at about $2,436,000. Hedge funds and other institutional investors 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.