Intra-Cellular Therapies (NASDAQ:ITCI) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a note issued to investors on Sunday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also commented on ITCI. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $132.00 price target (up previously from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Canaccord Genuity Group lowered shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and increased their target price for the stock from $119.00 to $132.00 in a report on Friday, January 31st. Baird R W downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. upped their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Leerink Partnrs downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report 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 assigned a strong buy rating to the company. According to data from MarketBeat, Intra-Cellular Therapies currently has an average rating of “Moderate Buy” and a consensus target price of $103.62.

Intra-Cellular Therapies Stock Down 0.2 %

NASDAQ ITCI opened at $127.82 on Friday. Intra-Cellular Therapies has a 52 week low of $62.78 and a 52 week high of $128.19. The firm has a market capitalization of $13.59 billion, a P/E ratio of -146.92 and a beta of 0.72. The company has a 50-day moving average price of $105.80 and a 200-day moving average price of $87.97.

Insider Activity

In other 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 transaction of $4,375,800.00. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of institutional investors have recently added to or reduced their stakes in ITCI. Norges Bank bought a new stake in Intra-Cellular Therapies during the fourth quarter valued at about $268,347,000. Raymond James Financial Inc. bought a new stake in Intra-Cellular Therapies during the fourth quarter valued at about $76,451,000. Adage Capital Partners GP L.L.C. boosted its position in Intra-Cellular Therapies by 266.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 678,000 shares of the biopharmaceutical company’s stock valued at $56,627,000 after purchasing an additional 493,000 shares in the last quarter. TimesSquare Capital Management LLC boosted its position in Intra-Cellular Therapies by 91.8% during the fourth quarter. TimesSquare Capital Management LLC now owns 840,269 shares of the biopharmaceutical company’s stock valued at $70,179,000 after purchasing an additional 402,186 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its position in Intra-Cellular Therapies by 130.5% during the third quarter. Eagle Asset Management Inc. now owns 624,759 shares of the biopharmaceutical company’s stock valued at $45,714,000 after purchasing an additional 353,723 shares in the last quarter. Institutional investors own 92.33% of the company’s stock.

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.