Intra-Cellular Therapies (NASDAQ:ITCI) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report published on Friday,Benzinga reports.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. boosted their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada reissued a “sector perform” rating and issued a $132.00 target price (up from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. StockNews.com initiated coverage on Intra-Cellular Therapies in a report on Sunday, February 16th. They set a “hold” rating for the company. Baird R W cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Piper Sandler reissued a “neutral” rating and set a $132.00 price objective (up from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.62.

Intra-Cellular Therapies Trading Up 0.0 %

Shares of Intra-Cellular Therapies stock opened at $128.60 on Friday. Intra-Cellular Therapies has a 12 month low of $62.78 and a 12 month high of $128.77. The firm has a market capitalization of $13.67 billion, a P/E ratio of -147.81 and a beta of 0.72. The business has a fifty day simple moving average of $110.27 and a two-hundred day simple moving average of $89.64.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. Analysts predict that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Insider Activity

In related news, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total value of $4,375,800.00. Following the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Avior Wealth Management LLC increased its position in Intra-Cellular Therapies by 3.0% during the third quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company’s stock valued at $327,000 after acquiring an additional 131 shares during the last quarter. M&T Bank Corp grew its stake in shares of Intra-Cellular Therapies by 2.2% during the 4th quarter. M&T Bank Corp now owns 6,301 shares of the biopharmaceutical company’s stock valued at $526,000 after purchasing an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Intra-Cellular Therapies by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company’s stock valued at $748,000 after purchasing an additional 141 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Intra-Cellular Therapies by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 2,956 shares of the biopharmaceutical company’s stock worth $247,000 after purchasing an additional 150 shares during the period. Finally, Pallas Capital Advisors LLC boosted its holdings in shares of 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 worth $266,000 after buying an additional 192 shares during the last quarter. 92.33% of the stock is owned by 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.