Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Given Average Recommendation of “Hold” by Brokerages

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has been given a consensus rating of “Hold” by the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Ten research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $109.70.

A number of equities research analysts have issued reports on ITCI shares. Canaccord Genuity Group downgraded shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and upped their price objective for the stock from $119.00 to $132.00 in a research report on Friday, January 31st. Royal Bank of Canada restated a “sector perform” rating and set a $132.00 target price (up previously from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. StockNews.com began coverage on Intra-Cellular Therapies in a research report on Monday. They issued a “hold” rating for the company. Leerink Partnrs cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday, January 14th.

Intra-Cellular Therapies Price Performance

Intra-Cellular Therapies stock opened at $131.87 on Thursday. The company has a market capitalization of $14.05 billion, a PE ratio of -151.57 and a beta of 0.69. The firm’s fifty day moving average is $131.00 and its 200 day moving average is $107.20. Intra-Cellular Therapies has a 12-month low of $64.09 and a 12-month high of $131.98.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly 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 business had revenue of $199.22 million during the quarter, compared to analyst estimates of $205.08 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. Sell-side analysts expect that Intra-Cellular Therapies will post -0.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of institutional investors and hedge funds have recently bought and sold shares of ITCI. Norges Bank bought a new position in shares of Intra-Cellular Therapies in the 4th quarter worth $268,347,000. Raymond James Financial Inc. bought a new position in Intra-Cellular Therapies in the fourth quarter valued at $76,451,000. Adage Capital Partners GP L.L.C. raised its position in Intra-Cellular Therapies by 266.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 678,000 shares of the biopharmaceutical company’s stock valued at $56,627,000 after purchasing an additional 493,000 shares in the last quarter. TimesSquare Capital Management LLC lifted its stake 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 purchasing an additional 402,186 shares during the last quarter. Finally, Deep Track Capital LP increased its position in shares of Intra-Cellular Therapies by 24.9% during the 4th quarter. Deep Track Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock valued at $167,040,000 after purchasing 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.