Shares of Intra-Cellular Therapies Inc (NASDAQ:ITCI) have received an average rating of “Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $29.10.
A number of research firms recently commented on ITCI. Canaccord Genuity set a $31.00 price target on Intra-Cellular Therapies and gave the stock a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research upgraded Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Wednesday, January 3rd. SunTrust Banks reiterated a “buy” rating and issued a $28.00 price objective on shares of Intra-Cellular Therapies in a research report on Friday, March 2nd. Cantor Fitzgerald reiterated a “buy” rating and issued a $28.00 price objective on shares of Intra-Cellular Therapies in a research report on Thursday, March 1st. Finally, Royal Bank of Canada assumed coverage on Intra-Cellular Therapies in a research report on Thursday, February 8th. They issued an “outperform” rating and a $33.00 price objective on the stock.
NASDAQ ITCI traded down $0.48 during trading hours on Wednesday, reaching $19.90. 335,828 shares of the company’s stock were exchanged, compared to its average volume of 543,917. The firm has a market cap of $1,118.21, a PE ratio of -9.39 and a beta of 0.59. Intra-Cellular Therapies has a one year low of $7.85 and a one year high of $25.82.
Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing the Zacks’ 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 return on equity of 26.67% and a negative net margin of 39,745.53%. The firm’s revenue was down 94.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.64) earnings per share. research analysts anticipate that Intra-Cellular Therapies will post -3.33 earnings per share for the current year.
In other Intra-Cellular Therapies news, VP Lawrence J. Hineline sold 49,700 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $20.02, for a total transaction of $994,994.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael Halstead sold 25,500 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $18.03, for a total value of $459,765.00. Following the transaction, the senior vice president now owns 191 shares of the company’s stock, valued at approximately $3,443.73. The disclosure for this sale can be found here. 21.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Ellington Management Group LLC increased its holdings in Intra-Cellular Therapies by 26.9% during the 4th quarter. Ellington Management Group LLC now owns 17,000 shares of the biopharmaceutical company’s stock worth $246,000 after purchasing an additional 3,600 shares in the last quarter. SG Americas Securities LLC increased its holdings in Intra-Cellular Therapies by 45.9% during the 3rd quarter. SG Americas Securities LLC now owns 12,060 shares of the biopharmaceutical company’s stock worth $190,000 after purchasing an additional 3,794 shares in the last quarter. American International Group Inc. increased its holdings in Intra-Cellular Therapies by 26.3% during the 4th quarter. American International Group Inc. now owns 28,590 shares of the biopharmaceutical company’s stock worth $414,000 after purchasing an additional 5,955 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Intra-Cellular Therapies by 24.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 31,620 shares of the biopharmaceutical company’s stock valued at $458,000 after acquiring an additional 6,274 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Intra-Cellular Therapies in the 3rd quarter valued at about $101,000. Hedge funds and other institutional investors own 70.47% of the company’s stock.
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About Intra-Cellular Therapies
Intra-Cellular Therapies, Inc, a biopharmaceutical company, engages in developing novel drugs for the treatment of neuropsychiatric and neurodegenerative diseases. The company is developing its lead drug candidate, lumateperone, known as ITI-007, for the treatment of schizophrenia, bipolar disorder, behavioral disturbances in patients with dementia, and other neuropsychiatric and neurological disorders.
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