Intra-Cellular Therapies (NASDAQ:ITCI) Downgraded by Baird R W to Hold

Intra-Cellular Therapies (NASDAQ:ITCI) was downgraded by research analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research analysts also recently commented on the company. Needham & Company LLC reissued a “hold” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Monday. JPMorgan Chase & Co. upped their price objective on shares of 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 reiterated a “neutral” rating and set a $132.00 price target (up from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Finally, Royal Bank of Canada boosted their price objective 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. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.31.

Intra-Cellular Therapies Trading Down 0.2 %

NASDAQ ITCI opened at $126.89 on Monday. The firm’s 50 day simple moving average is $87.14 and its 200 day simple moving average is $79.68. The firm has a market capitalization of $13.45 billion, a price-to-earnings ratio of -145.85 and a beta of 0.70. Intra-Cellular Therapies has a 1 year low of $62.78 and a 1 year high of $128.00.

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

Insider Activity

In other news, President Michael Halstead sold 22,869 shares of the business’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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC lifted its position in shares of Intra-Cellular Therapies by 282.0% during the 3rd quarter. Barclays PLC now owns 34,453 shares of the biopharmaceutical company’s stock valued at $2,521,000 after acquiring an additional 25,435 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Intra-Cellular Therapies by 31.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock valued at $33,258,000 after purchasing an additional 109,892 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Intra-Cellular Therapies by 3.3% during the third quarter. Principal Financial Group Inc. now owns 597,713 shares of the biopharmaceutical company’s stock valued at $43,735,000 after purchasing an additional 18,865 shares during the period. TimesSquare Capital Management LLC boosted its position in shares of Intra-Cellular Therapies by 6.5% during the 3rd quarter. TimesSquare Capital Management LLC now owns 438,083 shares of the biopharmaceutical company’s stock worth $32,055,000 after purchasing an additional 26,600 shares in the last quarter. Finally, Cynosure Group LLC boosted its position in shares of Intra-Cellular Therapies by 161.0% during the 3rd quarter. Cynosure Group LLC now owns 14,442 shares of the biopharmaceutical company’s stock worth $1,057,000 after purchasing an additional 8,909 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors.

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.