Intra-Cellular Therapies (NASDAQ:ITCI) Downgraded by ValuEngine

ValuEngine lowered shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a hold rating to a sell rating in a research report released on Tuesday morning, ValuEngine reports.

ITCI has been the subject of a number of other reports. Cowen reaffirmed a buy rating and set a $28.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday. BidaskClub raised shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, June 20th. Zacks Investment Research lowered shares of Hancock Jaffe Laboratories from a buy rating to a hold rating in a research note on Wednesday, June 26th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and set a $29.00 price objective (up from $26.00) on shares of Intra-Cellular Therapies in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $27.67.

Shares of Intra-Cellular Therapies stock opened at $10.66 on Tuesday. Intra-Cellular Therapies has a 1 year low of $10.09 and a 1 year high of $23.62. The company has a debt-to-equity ratio of 0.07, a current ratio of 9.59 and a quick ratio of 9.59. The stock has a market cap of $611.99 million, a P/E ratio of -3.75 and a beta of 1.24. The stock’s fifty day simple moving average is $12.70.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.27. As a group, sell-side analysts anticipate that Intra-Cellular Therapies will post -3.71 earnings per share for the current year.

In other Intra-Cellular Therapies news, Director Christopher D. Alafi purchased 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was acquired at an average cost of $12.56 per share, with a total value of $1,256,000.00. Following the completion of the acquisition, the director now directly owns 750,106 shares of the company’s stock, valued at approximately $9,421,331.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher D. Alafi purchased 170,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was acquired at an average cost of $11.73 per share, with a total value of $1,994,100.00. Following the completion of the acquisition, the director now directly owns 750,106 shares of the company’s stock, valued at $8,798,743.38. The disclosure for this purchase can be found here. 18.20% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its holdings in shares of Intra-Cellular Therapies by 883.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,361 shares of the biopharmaceutical company’s stock worth $126,000 after acquiring an additional 9,307 shares during the last quarter. First Mercantile Trust Co. grew its stake in Intra-Cellular Therapies by 12.3% during the first quarter. First Mercantile Trust Co. now owns 11,522 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 1,265 shares during the period. GSA Capital Partners LLP acquired a new stake in Intra-Cellular Therapies during the fourth quarter worth approximately $142,000. Metropolitan Life Insurance Co. NY grew its stake in Intra-Cellular Therapies by 354.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 14,016 shares of the biopharmaceutical company’s stock worth $160,000 after purchasing an additional 10,934 shares during the period. Finally, Legal & General Group Plc grew its stake in Intra-Cellular Therapies by 9.4% during the fourth quarter. Legal & General Group Plc now owns 16,044 shares of the biopharmaceutical company’s stock worth $183,000 after purchasing an additional 1,374 shares during the period. 69.15% of the stock is owned by institutional investors and hedge funds.

Intra-Cellular Therapies Company Profile

Intra-Cellular Therapies, Inc, a biopharmaceutical company, engages in developing novel drugs for the treatment of neuropsychiatric and neurodegenerative disorders. The company is developing its lead drug candidate, lumateperone for the treatment of schizophrenia, bipolar disorder, behavioral disturbances associated with dementia, autism, and other CNS diseases.

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

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