Intra-Cellular Therapies (NASDAQ:ITCI) has been given a $31.00 price target by analysts at Canaccord Genuity in a research report issued to clients and investors on Tuesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s target price indicates a potential upside of 25.40% from the stock’s current price.
Several other equities research analysts have also issued reports on ITCI. ValuEngine upgraded shares of Intra-Cellular Therapies from a “sell” rating to a “hold” rating in a report on Wednesday, March 7th. Leerink Swann restated an “outperform” rating on shares of Intra-Cellular Therapies in a report on Sunday, March 4th. Zacks Investment Research lowered shares of Intra-Cellular Therapies from a “hold” rating to a “sell” rating in a report on Tuesday, March 6th. SunTrust Banks restated a “buy” rating and issued a $28.00 target price on shares of Intra-Cellular Therapies in a report on Friday, March 2nd. Finally, Cowen restated a “buy” rating and issued a $28.00 target price on shares of Intra-Cellular Therapies in a report on Friday, March 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $27.09.
Intra-Cellular Therapies (NASDAQ:ITCI) traded up $1.26 during trading on Tuesday, hitting $24.72. 887,250 shares of the stock traded hands, compared to its average volume of 542,368. The company has a market cap of $1,350.00, a price-to-earnings ratio of -11.69 and a beta of 0.69. Intra-Cellular Therapies has a 12-month low of $7.85 and a 12-month high of $25.80.
Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.06). The firm had revenue of $5.06 million during 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%. Intra-Cellular Therapies’s revenue was down 94.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.64) EPS. analysts anticipate that Intra-Cellular Therapies will post -3.33 earnings per share for the current fiscal year.
In related news, VP Lawrence J. Hineline sold 49,700 shares of Intra-Cellular Therapies stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Lawrence J. Hineline sold 3,192 shares of Intra-Cellular Therapies 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 sale, the chief financial officer now owns 68,686 shares of the company’s stock, valued at approximately $1,076,309.62. The disclosure for this sale can be found here. Insiders have sold a total of 98,210 shares of company stock valued at $1,846,548 in the last quarter. 21.00% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC increased its position in Intra-Cellular Therapies by 16.0% during the 2nd quarter. Voya Investment Management LLC now owns 16,911 shares of the biopharmaceutical company’s stock valued at $210,000 after purchasing an additional 2,338 shares during the period. Ellington Management Group LLC increased its position 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 valued at $246,000 after purchasing an additional 3,600 shares during the period. SG Americas Securities LLC increased its position 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 valued at $190,000 after purchasing an additional 3,794 shares during the period. American International Group Inc. increased its position 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 valued at $414,000 after purchasing an additional 5,955 shares during the period. Finally, Quantbot Technologies LP increased its position in Intra-Cellular Therapies by 233.1% during the 3rd quarter. Quantbot Technologies LP now owns 8,614 shares of the biopharmaceutical company’s stock valued at $135,000 after purchasing an additional 6,028 shares during the period. 70.47% of the stock is currently owned by institutional investors and hedge funds.
WARNING: “Canaccord Genuity Reiterates $31.00 Price Target for Intra-Cellular Therapies (ITCI)” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this news story can be viewed at https://www.dispatchtribunal.com/2018/03/13/canaccord-genuity-reiterates-31-00-price-target-for-intra-cellular-therapies-itci.html.
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).
Receive News & Ratings for Intra-Cellular Therapies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intra-Cellular Therapies and related companies with MarketBeat.com's FREE daily email newsletter.