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

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

A number of other brokerages also recently commented on ITCI. Needham & Company LLC restated a “hold” rating on shares of Intra-Cellular Therapies in a research report on Friday, February 21st. Piper Sandler reissued a “neutral” rating and issued a $132.00 price target (up from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday, January 14th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $132.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, April 2nd. Baird R W cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Leerink Partnrs lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Intra-Cellular Therapies currently has an average rating of “Hold” and an average target price of $106.23.

Intra-Cellular Therapies Stock Performance

NASDAQ:ITCI opened at $131.87 on Friday. Intra-Cellular Therapies has a 12-month low of $64.09 and a 12-month high of $131.98. The stock’s 50 day simple moving average is $129.62 and its 200-day simple moving average is $101.80. The firm has a market cap of $14.05 billion, a P/E ratio of -151.57 and a beta of 0.69.

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

Hedge Funds Weigh In On Intra-Cellular Therapies

Institutional investors have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB increased its position in Intra-Cellular Therapies by 124.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 240 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 133 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Intra-Cellular Therapies by 2.2% during the 4th quarter. M&T Bank Corp now owns 6,301 shares of the biopharmaceutical company’s stock worth $526,000 after purchasing an additional 138 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew 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 buying an additional 141 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Intra-Cellular Therapies by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 2,956 shares of the biopharmaceutical company’s stock valued at $247,000 after buying an additional 150 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its stake in shares of 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 buying an additional 192 shares during the period. 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.