Intra-Cellular Therapies (NASDAQ:ITCI) Cut to Neutral at Mizuho

Mizuho downgraded shares of Intra-Cellular Therapies (NASDAQ:ITCI) from an outperform rating to a neutral rating in a research report sent to investors on Monday, MarketBeat reports. The firm currently has $132.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $140.00.

ITCI has been the subject of several other research reports. StockNews.com assumed coverage on shares of Intra-Cellular Therapies in a research note on Monday. They set a “hold” rating for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Intra-Cellular Therapies in a research report on Friday, February 21st. JPMorgan Chase & Co. raised their price objective 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. Piper Sandler reaffirmed a “neutral” rating and set a $132.00 target price (up from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Finally, Cantor Fitzgerald upgraded Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Intra-Cellular Therapies has a consensus rating of “Hold” and a consensus price target of $106.08.

Intra-Cellular Therapies Trading Down 0.1 %

Shares of NASDAQ:ITCI opened at $128.46 on Monday. The company has a market capitalization of $13.66 billion, a PE ratio of -147.65 and a beta of 0.72. Intra-Cellular Therapies has a 12-month low of $63.30 and a 12-month high of $129.00. The business’s fifty day simple moving average is $111.97 and its 200-day simple moving average is $90.60.

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 company had revenue of $199.22 million during the quarter, compared to analysts’ expectations of $205.08 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. Research analysts predict that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Insider Buying and Selling

In other news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction 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 directly owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. This represents a 4.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Accredited Wealth Management LLC purchased a new stake in Intra-Cellular Therapies in the fourth quarter valued at $28,000. True Wealth Design LLC purchased a new stake in shares of Intra-Cellular Therapies in the third quarter worth about $32,000. GAMMA Investing LLC boosted its stake in shares of Intra-Cellular Therapies by 46.3% in the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 240 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Intra-Cellular Therapies during the third quarter worth about $74,000. Finally, Venturi Wealth Management LLC purchased a new position in Intra-Cellular Therapies during the fourth quarter valued at approximately $96,000. Hedge funds and other institutional investors own 92.33% of the company’s stock.

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.