BidaskClub upgraded shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a hold rating to a buy rating in a report issued on Thursday.
ITCI has been the topic of several other research reports. Zacks Investment Research raised shares of Intra-Cellular Therapies from a hold rating to a buy rating and set a $20.00 price objective on the stock in a research report on Saturday, January 20th. ValuEngine lowered shares of Intra-Cellular Therapies from a sell rating to a strong sell rating in a research report on Sunday, December 31st. Royal Bank of Canada started coverage on shares of Intra-Cellular Therapies in a research report on Thursday, February 8th. They issued an outperform rating and a $33.00 price target on the stock. JPMorgan Chase & Co. started coverage on shares of Intra-Cellular Therapies in a research report on Monday, February 26th. They issued an overweight rating and a $25.00 price target on the stock. Finally, Canaccord Genuity started coverage on shares of Intra-Cellular Therapies in a research report on Friday, December 15th. They issued a buy rating and a $31.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. Intra-Cellular Therapies has an average rating of Buy and a consensus target price of $27.09.
Intra-Cellular Therapies (ITCI) traded down $1.11 during mid-day trading on Thursday, hitting $23.86. 264,990 shares of the company traded hands, compared to its average volume of 544,830. The firm has a market capitalization of $1,393.81, a PE ratio of -11.25 and a beta of 0.66. Intra-Cellular Therapies has a twelve month low of $7.85 and a twelve month high of $25.82.
Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Thursday, March 1st. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.06). The business had revenue of $5.06 million for the quarter, compared to the consensus estimate of $0.05 million. Intra-Cellular Therapies had a negative net margin of 39,745.53% and a negative return on equity of 26.67%. Intra-Cellular Therapies’s revenue was down 94.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.64) EPS. equities research analysts forecast that Intra-Cellular Therapies will post -3.33 EPS for the current fiscal year.
In related news, VP Lawrence J. Hineline sold 49,700 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $20.02, for a total transaction of $994,994.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Lawrence J. Hineline sold 3,192 shares of the business’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $15.67, for a total transaction of $50,018.64. Following the transaction, the chief financial officer now directly owns 68,686 shares in the company, valued at approximately $1,076,309.62. The disclosure for this sale can be found here. Insiders have sold 98,210 shares of company stock worth $1,846,548 in the last ninety days. 19.80% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in ITCI. Dimensional Fund Advisors LP increased its position in Intra-Cellular Therapies by 419.3% during the second quarter. Dimensional Fund Advisors LP now owns 647,187 shares of the biopharmaceutical company’s stock worth $8,038,000 after acquiring an additional 522,565 shares during the period. Voya Investment Management LLC boosted its stake in Intra-Cellular Therapies by 16.0% during the second quarter. Voya Investment Management LLC now owns 16,911 shares of the biopharmaceutical company’s stock worth $210,000 after buying an additional 2,338 shares in the last quarter. State Street Corp boosted its stake in Intra-Cellular Therapies by 10.4% during the second quarter. State Street Corp now owns 1,004,360 shares of the biopharmaceutical company’s stock worth $12,474,000 after buying an additional 94,763 shares in the last quarter. American Century Companies Inc. acquired a new stake in Intra-Cellular Therapies during the third quarter worth $1,031,000. Finally, Swiss National Bank boosted its stake in Intra-Cellular Therapies by 31.0% during the third quarter. Swiss National Bank now owns 69,800 shares of the biopharmaceutical company’s stock worth $1,101,000 after buying an additional 16,500 shares in the last quarter. 70.47% of the stock is currently owned by institutional investors and hedge funds.
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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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