Intra-Cellular Therapies (NASDAQ:ITCI) Earns “Hold” Rating from Needham & Company LLC

Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “hold” rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Monday,Benzinga reports. They currently have a $100.00 price target on the biopharmaceutical company’s stock. Needham & Company LLC’s target price would suggest a potential downside of 21.19% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Morgan Stanley boosted their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Royal Bank of Canada boosted their price target on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. upped their price target 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. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Intra-Cellular Therapies has an average rating of “Moderate Buy” and a consensus target price of $100.31.

Intra-Cellular Therapies Stock Performance

Shares of ITCI opened at $126.89 on Monday. Intra-Cellular Therapies has a one year low of $62.78 and a one year high of $128.00. The stock’s fifty day moving average is $87.14 and its 200-day moving average is $79.68. The firm has a market capitalization of $13.45 billion, a price-to-earnings ratio of -145.85 and a beta of 0.70.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The company had revenue of $175.40 million for the quarter, compared to analyst estimates of $172.30 million. During the same period in the previous year, the business posted ($0.25) EPS. The firm’s quarterly revenue was up 39.0% on a year-over-year basis. Analysts forecast that Intra-Cellular Therapies will post -0.64 EPS for the current fiscal year.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 51,000 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Michael Halstead sold 22,869 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Hedge funds have recently bought and sold shares of the business. Avior Wealth Management LLC grew its stake in Intra-Cellular Therapies by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company’s stock valued at $327,000 after acquiring an additional 131 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Intra-Cellular Therapies by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company’s stock worth $748,000 after purchasing an additional 141 shares during the period. Pallas Capital Advisors LLC grew its position in Intra-Cellular Therapies by 6.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock valued at $266,000 after purchasing an additional 192 shares in the last quarter. Assetmark Inc. increased its stake in Intra-Cellular Therapies by 9.1% in the 3rd quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock valued at $181,000 after buying an additional 207 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its position in Intra-Cellular Therapies by 0.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 35,673 shares of the biopharmaceutical company’s stock worth $2,610,000 after buying an additional 223 shares in the last quarter. 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.