Intra-Cellular Therapies (NASDAQ:ITCI) Stock Rating Lowered by Leerink Partnrs

Leerink Partnrs lowered shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

ITCI has been the topic of several other research reports. Royal Bank of Canada increased their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Needham & Company LLC reissued a “hold” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a report on Monday. Piper Sandler restated a “neutral” rating and issued a $132.00 price objective (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday. Morgan Stanley upped their target price on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.31.

Intra-Cellular Therapies Stock Down 0.1 %

NASDAQ:ITCI opened at $126.71 on Monday. The firm has a market cap of $13.43 billion, a PE ratio of -145.64 and a beta of 0.70. Intra-Cellular Therapies has a 12 month low of $62.78 and a 12 month high of $128.00. The company’s 50-day moving average price is $87.89 and its two-hundred day moving average price is $80.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The business had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The firm’s revenue was up 39.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.25) earnings per share. On average, research analysts expect that Intra-Cellular Therapies will post -0.64 EPS for the current fiscal year.

Insider Activity

In related news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Michael Halstead sold 22,869 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Oak Ridge Investments LLC boosted its position in shares of Intra-Cellular Therapies by 74.1% during the fourth quarter. Oak Ridge Investments LLC now owns 19,831 shares of the biopharmaceutical company’s stock worth $1,656,000 after purchasing an additional 8,440 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Intra-Cellular Therapies during the 4th quarter worth $206,000. Avanza Fonder AB acquired a new stake in Intra-Cellular Therapies during the 4th quarter worth $254,000. Park Avenue Securities LLC lifted its holdings in Intra-Cellular Therapies by 21.3% during the fourth quarter. Park Avenue Securities LLC now owns 6,293 shares of the biopharmaceutical company’s stock worth $526,000 after acquiring an additional 1,103 shares in the last quarter. Finally, Pallas Capital Advisors LLC grew its stake in Intra-Cellular Therapies by 6.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock valued at $266,000 after acquiring an additional 192 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.

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.