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

Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “hold” rating reaffirmed by analysts at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They currently have a $100.00 target price on the biopharmaceutical company’s stock. Needham & Company LLC’s target price would indicate a potential downside of 21.19% from the company’s previous close.

A number of other brokerages have also recently weighed in on ITCI. 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Royal Bank of Canada upped their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Morgan Stanley lifted their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.31.

Intra-Cellular Therapies Stock Performance

NASDAQ:ITCI opened at $126.89 on Monday. The company has a market capitalization of $13.45 billion, a P/E ratio of -145.85 and a beta of 0.70. The stock’s 50 day moving average price is $87.14 and its 200 day moving average price is $79.68. Intra-Cellular Therapies has a 52 week low of $62.78 and a 52 week high of $128.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly 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). 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 $175.40 million for the quarter, compared to analyst estimates of $172.30 million. During the same quarter last year, the company earned ($0.25) EPS. The business’s revenue for the quarter was up 39.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Insider Activity

In other news, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the business’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 represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Institutional investors have recently bought and sold shares of the business. True Wealth Design LLC acquired a new position in shares of Intra-Cellular Therapies in the 3rd quarter valued at $32,000. GAMMA Investing LLC increased its stake in Intra-Cellular Therapies by 46.3% in the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock valued at $63,000 after acquiring an additional 240 shares during the period. Capital Performance Advisors LLP acquired a new position in Intra-Cellular Therapies in the third quarter worth about $74,000. Wilmington Savings Fund Society FSB bought a new position in Intra-Cellular Therapies during the third quarter worth about $97,000. Finally, Quarry LP boosted its holdings in Intra-Cellular Therapies by 260.0% during the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after purchasing an additional 1,300 shares in the last quarter. 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.