Intra-Cellular Therapies (NASDAQ:ITCI) Earns Neutral Rating from Analysts at Piper Sandler

Stock analysts at Piper Sandler initiated coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCIGet Rating) in a research report issued to clients and investors on Friday, The Fly reports. The firm set a “neutral” rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently weighed in on the company. Needham & Company LLC lifted their price target on Intra-Cellular Therapies from $59.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, February 25th. StockNews.com began coverage on Intra-Cellular Therapies in a research note on Thursday, March 31st. They set a “sell” rating on the stock. Zacks Investment Research raised Intra-Cellular Therapies from a “sell” rating to a “hold” rating in a research note on Thursday, January 13th. The Goldman Sachs Group started coverage on Intra-Cellular Therapies in a report on Wednesday, February 16th. They set a “buy” rating and a $64.00 price target for the company. Finally, SVB Leerink lifted their price target on Intra-Cellular Therapies from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $60.67.

NASDAQ:ITCI opened at $55.75 on Friday. The business’s 50-day moving average price is $59.07 and its 200 day moving average price is $48.78. The firm has a market cap of $5.22 billion, a P/E ratio of -15.93 and a beta of 1.20. Intra-Cellular Therapies has a 52-week low of $28.40 and a 52-week high of $66.00.

Intra-Cellular Therapies (NASDAQ:ITCIGet Rating) last issued its quarterly earnings results on Tuesday, March 1st. The biopharmaceutical company reported ($1.05) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($1.05). The firm had revenue of $25.67 million for the quarter, compared to analysts’ expectations of $24.93 million. Intra-Cellular Therapies had a negative return on equity of 54.89% and a negative net margin of 339.04%. Intra-Cellular Therapies’s revenue was up 106.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.76) EPS. On average, equities analysts anticipate that Intra-Cellular Therapies will post -3.11 earnings per share for the current fiscal year.

In other news, EVP Mark Neumann sold 11,139 shares of the business’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $55.29, for a total transaction of $615,875.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Lawrence J. Hineline sold 7,454 shares of the company’s stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $51.97, for a total value of $387,384.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 280,157 shares of company stock worth $16,524,262. Company insiders own 13.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Profund Advisors LLC lifted its stake in shares of Intra-Cellular Therapies by 4.2% during the fourth quarter. Profund Advisors LLC now owns 7,040 shares of the biopharmaceutical company’s stock valued at $368,000 after acquiring an additional 283 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in Intra-Cellular Therapies by 1.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 27,546 shares of the biopharmaceutical company’s stock valued at $1,442,000 after buying an additional 293 shares during the period. LPL Financial LLC lifted its stake in Intra-Cellular Therapies by 2.7% in the third quarter. LPL Financial LLC now owns 14,917 shares of the biopharmaceutical company’s stock valued at $556,000 after buying an additional 391 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Intra-Cellular Therapies by 3.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,931 shares of the biopharmaceutical company’s stock valued at $730,000 after buying an additional 396 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of Intra-Cellular Therapies by 1.8% in the fourth quarter. ProShare Advisors LLC now owns 26,913 shares of the biopharmaceutical company’s stock worth $1,408,000 after acquiring an additional 476 shares in the last quarter. 83.48% of the stock is currently owned by institutional investors and hedge funds.

About Intra-Cellular Therapies (Get Rating)

Intra-Cellular Therapies, Inc, a biopharmaceutical company, develops novel drugs for the treatment of neuropsychiatric and neurologic diseases by targeting intracellular signaling mechanisms within the central nervous system in the United States. The company offers CAPLYTA for the treatment of schizophrenia in adults.

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