Intra-Cellular Therapies (ITCI) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a buy rating to a hold rating in a report published on Friday.

According to Zacks, “Intra-Cellular Therapies Inc. is a biopharmaceutical company. The company develops drugs for the treatment of neuropsychiatric and neurologic diseases and other disorders of the central nervous system. Its product candidates include ITI-007, ITI-002 and ITI-009 which is in clinical trials. Intra-Cellular Therapies Inc. is headquartered in New York. “

ITCI has been the topic of a number of other reports. SunTrust Banks upgraded shares of Intra-Cellular Therapies from a hold rating to a buy rating in a research report on Wednesday, November 8th. BidaskClub lowered shares of Intra-Cellular Therapies from a sell rating to a strong sell rating in a research report on Saturday, December 30th. Canaccord Genuity initiated coverage on shares of Intra-Cellular Therapies in a report on Friday, December 15th. They issued a buy rating and a $31.00 target price on the stock. Finally, ValuEngine lowered shares of Intra-Cellular Therapies from a sell rating to a strong sell rating in a report on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Intra-Cellular Therapies presently has an average rating of Buy and an average target price of $26.11.

Intra-Cellular Therapies (NASDAQ ITCI) traded up $0.47 on Friday, reaching $18.87. 435,257 shares of the company were exchanged, compared to its average volume of 489,324. The firm has a market capitalization of $1,030.00, a price-to-earnings 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 results on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.53). The firm 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%. Intra-Cellular Therapies’s quarterly revenue was up 675.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.70) earnings per share. analysts forecast that Intra-Cellular Therapies will post -2.13 EPS for the current fiscal year.

In other Intra-Cellular Therapies news, Chairman Sharon Mates sold 6,604 shares of the business’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $17.48, for a total value of $115,437.92. Following the transaction, the chairman now directly owns 1,088,707 shares in the company, valued at approximately $19,030,598.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Lawrence J. Hineline sold 3,192 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $15.67, for a total transaction of $50,018.64. Following the completion of the transaction, the chief financial officer now owns 68,686 shares in the company, valued at $1,076,309.62. The disclosure for this sale can be found here. Insiders sold a total of 49,410 shares of company stock worth $802,481 over the last quarter. 19.80% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Franklin Street Advisors Inc. NC boosted its holdings in Intra-Cellular Therapies by 236.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 54,060 shares of the biopharmaceutical company’s stock valued at $783,000 after purchasing an additional 38,000 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Intra-Cellular Therapies by 80.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 69,191 shares of the biopharmaceutical company’s stock worth $1,092,000 after acquiring an additional 30,915 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth approximately $4,114,000. Perceptive Advisors LLC acquired a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth approximately $14,667,000. Finally, Premier Asset Management LLC acquired a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth approximately $291,000. Institutional investors own 74.47% of the company’s stock.

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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).

Analyst Recommendations for Intra-Cellular Therapies (NASDAQ:ITCI)

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