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

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

Other analysts also recently issued reports about the stock. Leerink Partnrs downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Needham & Company LLC reissued a “hold” rating on shares of Intra-Cellular Therapies in a report on Friday, February 21st. Cantor Fitzgerald reissued a “neutral” rating and set a $132.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, April 2nd. Baird R W downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Canaccord Genuity Group downgraded shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and increased their price objective for the company from $119.00 to $132.00 in a report on Friday, January 31st. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $109.70.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI opened at $131.87 on Tuesday. The firm has a market capitalization of $14.05 billion, a P/E ratio of -151.57 and a beta of 0.69. Intra-Cellular Therapies has a 1-year low of $64.09 and a 1-year high of $131.98. The company’s fifty day moving average price is $131.22 and its 200-day moving average price is $108.90.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share 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 business had revenue of $199.22 million during the quarter, compared to analyst estimates of $205.08 million. Equities analysts anticipate that Intra-Cellular Therapies will post -0.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Cannon Global Investment Management LLC purchased a new position in shares of Intra-Cellular Therapies in the first quarter worth about $674,000. CIBRA Capital Ltd purchased a new position in shares of Intra-Cellular Therapies in the first quarter worth about $54,907,000. Amalgamated Bank lifted its stake in shares of Intra-Cellular Therapies by 8.2% in the first quarter. Amalgamated Bank now owns 7,452 shares of the biopharmaceutical company’s stock worth $983,000 after buying an additional 564 shares in the last quarter. KBC Group NV lifted its stake in shares of Intra-Cellular Therapies by 8.5% in the first quarter. KBC Group NV now owns 4,096 shares of the biopharmaceutical company’s stock worth $540,000 after buying an additional 322 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Intra-Cellular Therapies in the first quarter worth about $318,000. 92.33% of the stock is owned by hedge funds and other institutional investors.

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.