Intra-Cellular Therapies Receives Hold Rating from Needham & Company LLC

Intra-Cellular Therapies (NASDAQ:ITCI) saw its stock rating reaffirmed as a "hold" by analysts at Needham & Company LLC in a report released on Friday. This decision comes amidst a variety of recent analyses regarding the company's share performance.

Recent Analyst Ratings

Other research firms have also been assessing Intra-Cellular Therapies. For instance, Canaccord Genuity Group shifted their stance, downgrading the company from a "buy" to a "hold" rating while revising their price target from $119.00 to $132.00 in a report dated January 31st. Similarly, JPMorgan Chase & Co. raised their price target from $81.00 to $89.00 and assigned the company an "overweight" rating in early November. Additionally, Leerink Partners decreased their rating from "strong buy" to "hold," and Piper Sandler set a neutral rating while adjusting their price target to $132.00, up from $107.00. Baird also transitioned their rating from "strong buy" to "hold". Currently, nine analysts have a hold rating on the stock, whereas six opted for a buy rating and one has labeled it a strong buy, resulting in a consensus rating of "Moderate Buy" with a target price of $103.62, as reported by MarketBeat.com.

Stock Performance Overview

On the trading front, Intra-Cellular Therapies' shares reported a slight increase, with an uptick of $0.06, bringing the price to $128.60 during trading hours on Friday. A total of 654,569 shares changed hands, compared to the average daily volume of approximately 4.17 million shares. The company holds a market capitalization of $13.67 billion and has a P/E ratio of -147.81, alongside a beta of 0.72. The stock has experienced volatility, with a fifty-two week low of $62.78 and a high of $128.77.

Latest Earnings Report

Intra-Cellular Therapies recently reported its earnings results on February 21st, revealing a loss of ($0.16) per share for the quarter, which missed analysts' expectations of ($0.08) by a margin of $0.08. The company exhibited a negative return on equity of 9.93% and a negative net margin of 14.07%. Predictions from analysts suggest that Intra-Cellular Therapies might post an EPS of -0.64 for the current fiscal year.

Insider Activity

In addition to market analyses, recent insider transactions may also impact investor perceptions. CEO Sharon Mates sold 51,000 shares on December 4th at an average price of $85.80, totaling $4,375,800. Following this transaction, the CEO's ownership decreased to approximately 1,070,329 shares, a drop of 4.55%. This transaction was documented in filings with the SEC, revealing that insiders currently hold about 2.60% of the company's shares.

Institutional Interest

A considerable number of hedge funds and institutional investors have been active in the stock recently. Accredited Wealth Management LLC, for example, initiated a new position in Intra-Cellular Therapies valued at about $28,000 during the fourth quarter. True Wealth Design LLC and GAMMA Investing LLC also entered new positions worth approximately $32,000 and $63,000, respectively. A significant majority, 92.33%, of the stock is now held by institutional investors, suggesting a relatively strong institutional backing.

About Intra-Cellular Therapies

Intra-Cellular Therapies, Inc. is a biopharmaceutical entity concentrated on the discovery, clinical development, and commercialization of small-molecule medications aimed at addressing various medical concerns, particularly in neuropsychiatric and neurological disorders. The company targets intracellular signaling mechanisms within the central nervous system (CNS) in the United States.

Final Thoughts

Overall, while Intra-Cellular Therapies maintains its "hold" rating from Needham & Company LLC, the shifting recommendations from other analysts present a varied outlook for investors. The consensus views on pricing and performance offer a somewhat mixed but cautiously optimistic perspective for future investment decisions.

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