Intra-Cellular Therapies (NASDAQ:ITCI) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, March 15th.
Other analysts also recently issued reports about the company. SunTrust Banks restated a “buy” rating and set a $28.00 target price on shares of Intra-Cellular Therapies in a research note on Friday, March 2nd. Cowen restated a “buy” rating and set a $28.00 target price on shares of Intra-Cellular Therapies in a research note on Friday, March 2nd. Cantor Fitzgerald reiterated a “buy” rating and issued a $28.00 price target on shares of Intra-Cellular Therapies in a research note on Thursday, March 1st. Canaccord Genuity initiated coverage on Intra-Cellular Therapies in a research note on Friday, December 15th. They issued a “buy” rating and a $31.00 price target for the company. Finally, Zacks Investment Research upgraded Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Wednesday, January 3rd. 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 stock. The stock currently has an average rating of “Buy” and an average price target of $28.27.
Shares of Intra-Cellular Therapies stock traded down $0.21 during trading hours on Thursday, hitting $19.42. 540,432 shares of the company’s stock traded hands, compared to its average volume of 565,472. The company has a market capitalization of $1,061.89, a PE ratio of -9.16 and a beta of 0.59. 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 announced its earnings results 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 analyst estimates 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%. The firm’s revenue was down 94.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.64) earnings per share. sell-side analysts expect that Intra-Cellular Therapies will post -3.33 earnings per share for the current year.
In other Intra-Cellular Therapies news, SVP Michael Halstead sold 25,500 shares of the firm’s stock in a transaction dated 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 owns 191 shares of the company’s stock, valued at $3,443.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Lawrence J. Hineline sold 49,700 shares of the firm’s 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 disclosure for this sale can be found here. Insiders sold 82,576 shares of company stock valued at $1,583,676 over the last quarter. Insiders own 19.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ITCI. Perceptive Advisors LLC bought a new position in Intra-Cellular Therapies in the third quarter worth about $14,667,000. BlackRock Inc. lifted its holdings in Intra-Cellular Therapies by 21.5% in the fourth quarter. BlackRock Inc. now owns 4,002,920 shares of the biopharmaceutical company’s stock worth $57,962,000 after acquiring an additional 709,048 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in Intra-Cellular Therapies in the third quarter worth about $8,663,000. Dimensional Fund Advisors LP lifted its holdings in Intra-Cellular Therapies by 419.3% in 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 last quarter. Finally, JPMorgan Chase & Co. bought a new position in Intra-Cellular Therapies in the third quarter worth about $6,310,000. 70.47% of the stock is currently owned by hedge funds and other institutional investors.
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Intra-Cellular Therapies Company Profile
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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