Intra-Cellular Therapies (ITCI) Lowered to Hold at Zacks Investment Research

Intra-Cellular Therapies (NASDAQ:ITCI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, January 12th.

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. “

Several other research analysts have also recently issued reports on ITCI. ValuEngine cut shares of Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 27th. SunTrust Banks upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a report on Wednesday, November 8th. BidaskClub cut shares of Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 12th. Finally, Canaccord Genuity began 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. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.00.

Shares of Intra-Cellular Therapies (ITCI) traded up $0.21 during midday trading on Friday, reaching $16.40. 109,844 shares of the company’s stock were exchanged, compared to its average volume of 397,722. Intra-Cellular Therapies has a twelve month low of $7.85 and a twelve month high of $22.67.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) EPS for the quarter, meeting analysts’ consensus estimates of ($0.53). Intra-Cellular Therapies had a negative net margin of 28,038.35% and a negative return on equity of 27.40%. The business had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.06 million. During the same period last year, the business earned ($0.70) earnings per share. The business’s quarterly revenue was up 675.0% on a year-over-year basis. equities research analysts predict that Intra-Cellular Therapies will post -2.13 EPS for the current fiscal year.

In other news, Director Christopher D. Alafi acquired 10,000 shares of the stock in a transaction on Wednesday, November 22nd. The stock was acquired at an average price of $15.55 per share, with a total value of $155,500.00. Following the completion of the transaction, the director now owns 744,466 shares of the company’s stock, valued at approximately $11,576,446.30. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Michael Halstead sold 25,500 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $18.03, for a total value of $459,765.00. Following the transaction, the senior vice president now directly owns 191 shares of the company’s stock, valued at approximately $3,443.73. The disclosure for this sale can be found here. Insiders sold 56,160 shares of company stock valued at $966,934 in the last ninety days. 21.00% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Rhumbline Advisers increased 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 valued at $538,000 after acquiring an additional 1,455 shares in the last quarter. State of Wisconsin Investment Board bought a new position in shares of Intra-Cellular Therapies during the second quarter valued at $298,000. SG Americas Securities LLC bought a new position in shares of Intra-Cellular Therapies during the second quarter valued at $103,000. Bank of New York Mellon Corp increased its holdings in shares of Intra-Cellular Therapies by 16.3% during 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 acquiring an additional 24,055 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Intra-Cellular Therapies during the second quarter valued at $754,000. 74.37% of the stock is owned by institutional investors and hedge funds.

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Intra-Cellular Therapies Company Profile

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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