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

Investment analysts at StockNews.com assumed coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a note issued to investors on Sunday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

A number of other research analysts have also recently weighed in on the stock. Royal Bank of Canada restated 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. Piper Sandler restated a “neutral” rating and issued a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Needham & Company LLC reiterated a “hold” rating on shares of Intra-Cellular Therapies in a research note on Friday, February 21st. Canaccord Genuity Group lowered Intra-Cellular Therapies from a “buy” rating to a “hold” rating and lifted their target price for the company from $119.00 to $132.00 in a report on Friday, January 31st. Finally, Mizuho lowered Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $140.00 to $132.00 in a research report on Monday, February 24th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $106.23.

Intra-Cellular Therapies Price Performance

ITCI opened at $131.87 on Friday. Intra-Cellular Therapies has a 52 week low of $64.09 and a 52 week high of $131.98. The business has a fifty day simple moving average of $130.29 and a 200-day simple moving average of $104.16. 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 posted its earnings results 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). The firm had revenue of $199.22 million for the quarter, compared to analyst estimates of $205.08 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. Sell-side analysts expect that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ITCI. Norges Bank acquired a new position in Intra-Cellular Therapies in the fourth quarter valued at $268,347,000. Raymond James Financial Inc. purchased a new stake in shares of Intra-Cellular Therapies in the 4th quarter valued at about $76,451,000. Adage Capital Partners GP L.L.C. grew its stake in Intra-Cellular Therapies by 266.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 678,000 shares of the biopharmaceutical company’s stock worth $56,627,000 after buying an additional 493,000 shares during the last quarter. TimesSquare Capital Management LLC increased its position in Intra-Cellular Therapies by 91.8% during the fourth quarter. TimesSquare Capital Management LLC now owns 840,269 shares of the biopharmaceutical company’s stock worth $70,179,000 after buying an additional 402,186 shares during the period. Finally, Deep Track Capital LP lifted its stake in Intra-Cellular Therapies by 24.9% in the fourth quarter. Deep Track Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock valued at $167,040,000 after buying an additional 399,307 shares during the last quarter. 92.33% of the stock is owned by hedge funds and other institutional investors.

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.