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

Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “hold” rating reiterated by research analysts at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports.

Several other research firms also recently commented on ITCI. Canaccord Genuity Group downgraded 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 research note on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Leerink Partnrs downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler reissued a “neutral” rating and issued a $132.00 price objective (up from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Finally, Baird R W downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.62.

Intra-Cellular Therapies Stock Up 0.0 %

Shares of ITCI stock traded up $0.06 during trading hours on Friday, hitting $128.60. 654,569 shares of the company’s stock were exchanged, compared to its average volume of 4,173,866. The firm has a market cap of $13.67 billion, a P/E ratio of -147.81 and a beta of 0.72. The firm has a 50 day moving average of $109.36 and a two-hundred day moving average of $89.29. Intra-Cellular Therapies has a fifty-two week low of $62.78 and a fifty-two week high of $128.77.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing the consensus estimate 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%. On average, equities analysts forecast that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 51,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Accredited Wealth Management LLC purchased a new position in Intra-Cellular Therapies during the 4th quarter valued at about $28,000. True Wealth Design LLC purchased a new position in Intra-Cellular Therapies during the 3rd quarter valued at about $32,000. GAMMA Investing LLC boosted its holdings in Intra-Cellular Therapies by 46.3% during the 4th 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 purchased a new position in Intra-Cellular Therapies during the 3rd quarter valued at about $74,000. Finally, Venturi Wealth Management LLC purchased a new position in Intra-Cellular Therapies during the 4th quarter valued at about $96,000. 92.33% of the stock is currently owned by hedge funds and other 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.