Intra-Cellular Therapies (NASDAQ:ITCI) Downgraded to “Hold” Rating by Leerink Partnrs

Intra-Cellular Therapies (NASDAQ:ITCI) was downgraded by equities researchers at Leerink Partnrs from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald raised Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. 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 report on Monday, November 4th. Needham & Company LLC restated a “hold” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Monday. Piper Sandler reiterated a “neutral” rating and issued a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday. Finally, Morgan Stanley raised their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.31.

Intra-Cellular Therapies Trading Down 0.2 %

Shares of NASDAQ:ITCI opened at $126.89 on Monday. The firm has a 50 day simple moving average of $87.14 and a 200-day simple moving average of $79.68. Intra-Cellular Therapies has a twelve month low of $62.78 and a twelve month high of $128.00. The company has a market capitalization of $13.45 billion, a PE ratio of -145.85 and a beta of 0.70.

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 company had revenue of $175.40 million for the quarter, compared to analyst estimates of $172.30 million. During the same quarter in the prior year, the business earned ($0.25) earnings per share. Intra-Cellular Therapies’s revenue was up 39.0% compared to the same quarter last year. As a group, equities research analysts predict that Intra-Cellular Therapies will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling

In other Intra-Cellular Therapies 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 value of $4,375,800.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC acquired a new stake in shares of Intra-Cellular Therapies during the 3rd quarter valued at approximately $32,000. GAMMA Investing LLC raised its holdings in Intra-Cellular Therapies by 46.3% during the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 240 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Intra-Cellular Therapies during the third quarter worth $74,000. Wilmington Savings Fund Society FSB acquired a new stake in Intra-Cellular Therapies in the third quarter valued at $97,000. Finally, Quarry LP increased its position in shares of Intra-Cellular Therapies by 260.0% in the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 1,300 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

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.