Intra-Cellular Therapies (NASDAQ:ITCI) Now Covered by StockNews.com

Posted by Lars Charter on Mar 19th, 2023

StockNews.com assumed coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI – Get Rating) in a report published on Thursday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

ITCI has been the topic of a number of other research reports. Needham & Company LLC restated a buy rating and issued a $70.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, March 1st. Cantor Fitzgerald reiterated an overweight rating and set a $83.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, February 1st. Mizuho lowered their target price on Intra-Cellular Therapies from $72.00 to $66.00 in a report on Friday, March 3rd. Royal Bank of Canada lowered their target price on Intra-Cellular Therapies from $75.00 to $71.00 and set an outperform rating on the stock in a report on Thursday, March 2nd. Finally, JPMorgan Chase & Co. lowered their target price on Intra-Cellular Therapies from $59.00 to $58.00 and set an overweight rating on the stock in a report on Thursday, March 9th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $69.40.

Intra-Cellular Therapies Stock Performance

Shares of ITCI traded up $0.74 on Thursday, reaching $45.99. The stock had a trading volume of 962,293 shares, compared to its average volume of 832,482. The firm has a 50-day moving average of $47.77 and a 200 day moving average of $49.11. Intra-Cellular Therapies has a twelve month low of $42.01 and a twelve month high of $66.00.

Intra-Cellular Therapies (NASDAQ:ITCI – Get Rating) last released its quarterly earnings results on Wednesday, March 1st. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.17. The business had revenue of $87.87 million for the quarter, compared to analysts’ expectations of $86.97 million. Intra-Cellular Therapies had a negative return on equity of 35.88% and a negative net margin of 102.37%. The company’s revenue was up 242.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.05) EPS. As a group, equities analysts anticipate that Intra-Cellular Therapies will post -2.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, Director Joel S. Marcus sold 5,000 shares of the stock in a transaction on Monday, December 19th. The stock was sold at an average price of $50.82, for a total transaction of $254,100.00. Following the transaction, the director now owns 29,233 shares of the company’s stock, valued at approximately $1,485,621.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Intra-Cellular Therapies news, Director Joel S. Marcus sold 5,000 shares of the stock in a transaction on Monday, December 19th. The stock was sold at an average price of $50.82, for a total transaction of $254,100.00. Following the transaction, the director now owns 29,233 shares of the company’s stock, valued at approximately $1,485,621.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Lawrence J. Hineline sold 53,968 shares of the stock in a transaction on Friday, February 17th. The stock was sold at an average price of $49.83, for a total value of $2,689,225.44. The disclosure for this sale can be found here. Insiders have sold a total of 258,223 shares of company stock valued at $12,003,584 in the last quarter. 3.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Harvest Fund Management Co. Ltd purchased a new position in shares of Intra-Cellular Therapies in the 4th quarter worth $31,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth $41,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Intra-Cellular Therapies in the 4th quarter worth $47,000. Northern Oak Wealth Management Inc. purchased a new position in shares of Intra-Cellular Therapies in the 2nd quarter worth $51,000. Finally, Quantbot Technologies LP purchased a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth $55,000. 86.95% of the stock is owned by hedge funds and other institutional investors.

About Intra-Cellular Therapies

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Intra-Cellular Therapies, Inc operates as a biopharmaceutical company. It focuses on the discovery and clinical development of small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system, or CNS.