Intra-Cellular Therapies (NASDAQ:ITCI) Lowered to “Neutral” Rating by Mizuho

Mizuho cut shares of Intra-Cellular Therapies (NASDAQ:ITCI) from an outperform rating to a neutral rating in a research note issued to investors on Monday morning, Marketbeat Ratings reports. The brokerage currently has $132.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $140.00.

A number of other research firms also recently commented on ITCI. Royal Bank of Canada reiterated a “sector perform” rating and issued a $132.00 price objective (up previously from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Leerink Partnrs downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Needham & Company LLC reissued a “hold” rating on shares of Intra-Cellular Therapies in a research note on Friday, February 21st. StockNews.com initiated coverage on Intra-Cellular Therapies in a research note on Monday. They issued a “hold” rating for the company. Finally, Canaccord Genuity Group cut shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and boosted their price target for the company from $119.00 to $132.00 in a research report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $106.08.

Intra-Cellular Therapies Stock Performance

Intra-Cellular Therapies stock opened at $128.46 on Monday. The stock has a market capitalization of $13.66 billion, a P/E ratio of -147.65 and a beta of 0.72. The company’s fifty day moving average price is $111.97 and its 200 day moving average price is $90.60. Intra-Cellular Therapies has a 1 year low of $63.30 and a 1 year high of $129.00.

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 analysts’ consensus estimates of ($0.08) by ($0.08). 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 $199.22 million for the quarter, compared to analysts’ expectations of $205.08 million. Sell-side analysts predict that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insider Transactions at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 directly owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of large investors have recently bought and sold shares of ITCI. GF Fund Management CO. LTD. purchased a new stake in shares of Intra-Cellular Therapies during the 4th quarter valued at $186,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Intra-Cellular Therapies by 3.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 335,319 shares of the biopharmaceutical company’s stock valued at $28,006,000 after acquiring an additional 12,111 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in Intra-Cellular Therapies during the fourth quarter valued at about $11,966,000. Two Sigma Investments LP increased its stake in Intra-Cellular Therapies by 507.9% during the fourth quarter. Two Sigma Investments LP now owns 142,791 shares of the biopharmaceutical company’s stock worth $11,926,000 after acquiring an additional 119,301 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Intra-Cellular Therapies by 4.5% in the 4th quarter. Tidal Investments LLC now owns 5,027 shares of the biopharmaceutical company’s stock worth $420,000 after purchasing an additional 215 shares during the period. Hedge funds and other institutional investors own 92.33% of the company’s stock.

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.