Intra-Cellular Therapies (NASDAQ:ITCI) Cut to “Hold” at Leerink Partnrs

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

Several other equities analysts have also issued reports on the company. Piper Sandler reaffirmed 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. Morgan Stanley upped their target price on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Cantor Fitzgerald raised shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Royal Bank of Canada increased their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Baird R W cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.31.

Intra-Cellular Therapies Price Performance

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

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share 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 during the quarter, compared to analysts’ expectations of $172.30 million. During the same quarter in the previous year, the company earned ($0.25) EPS. The business’s quarterly revenue was up 39.0% on a year-over-year basis. On average, equities research analysts expect that Intra-Cellular Therapies will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sharon Mates sold 51,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. This trade represents a 4.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds have recently modified their holdings of the company. True Wealth Design LLC bought a new stake in shares of Intra-Cellular Therapies during the 3rd quarter valued at $32,000. GAMMA Investing LLC increased its stake in Intra-Cellular Therapies by 46.3% in the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 240 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Intra-Cellular Therapies during the third quarter valued at about $74,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Intra-Cellular Therapies in the third quarter valued at about $97,000. Finally, Quarry LP boosted its stake 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 worth $132,000 after acquiring an additional 1,300 shares during the period. 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.