Intra-Cellular Therapies (NASDAQ:ITCI) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday, January 5th.
A number of other equities analysts also recently issued reports on the stock. Piper Jaffray Companies upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $14.00 to $33.00 in a research note on Thursday, September 7th. Cowen reiterated an “outperform” rating and set a $27.00 price objective (up from $20.00) on shares of Intra-Cellular Therapies in a research note on Friday, September 8th. SunTrust Banks reiterated a “hold” rating and set a $22.00 price objective (up from $16.00) on shares of Intra-Cellular Therapies in a research note on Friday, September 8th. BTIG Research reiterated a “buy” rating and set a $36.00 price objective on shares of Intra-Cellular Therapies in a research note on Friday, September 8th. Finally, ValuEngine downgraded shares of Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $26.11.
Shares of Intra-Cellular Therapies (ITCI) traded up $0.47 during midday trading on Friday, hitting $18.87. 435,257 shares of the stock traded hands, compared to its average volume of 489,324. The stock has a market cap of $1,030.00, a PE ratio of -8.62 and a beta of 0.72. Intra-Cellular Therapies has a 52-week low of $7.85 and a 52-week high of $22.67.
Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.53). The company had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.06 million. Intra-Cellular Therapies had a negative net margin of 28,038.35% and a negative return on equity of 27.40%. The firm’s revenue for the quarter was up 675.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.70) EPS. equities research analysts predict that Intra-Cellular Therapies will post -2.13 earnings per share for the current fiscal year.
In related news, Director Richard A. Lerner sold 7,000 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $15.09, for a total transaction of $105,630.00. Following the completion of the transaction, the director now owns 8,621 shares of the company’s stock, valued at $130,090.89. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Sharon Mates sold 6,604 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $17.48, for a total transaction of $115,437.92. Following the transaction, the chairman now directly owns 1,088,707 shares of the company’s stock, valued at approximately $19,030,598.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,410 shares of company stock valued at $802,481. Corporate insiders own 19.80% of the company’s stock.
Several institutional investors have recently modified their holdings of ITCI. Rhumbline Advisers raised its holdings in shares of Intra-Cellular Therapies by 3.5% during the second quarter. Rhumbline Advisers now owns 43,296 shares of the biopharmaceutical company’s stock worth $538,000 after purchasing an additional 1,455 shares during the last quarter. State of Wisconsin Investment Board purchased a new position in Intra-Cellular Therapies in the second quarter valued at $298,000. SG Americas Securities LLC purchased a new position in Intra-Cellular Therapies in the second quarter valued at $103,000. Bank of New York Mellon Corp increased its holdings in Intra-Cellular Therapies by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 171,250 shares of the biopharmaceutical company’s stock valued at $2,126,000 after buying an additional 24,055 shares in the last quarter. Finally, Federated Investors Inc. PA increased its holdings in Intra-Cellular Therapies by 113.3% in the second quarter. Federated Investors Inc. PA now owns 183,035 shares of the biopharmaceutical company’s stock valued at $2,273,000 after buying an additional 97,228 shares in the last quarter. 74.47% of the stock is owned by hedge funds and other institutional investors.
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About Intra-Cellular Therapies
Intra-Cellular Therapies, Inc (ITI) is a biopharmaceutical company. The Company is focused 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 (CNS).
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