Intra-Cellular Therapies (ITCI) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a sell rating to a hold rating in a research report report published on Wednesday, March 7th.

Several other research analysts have also recently weighed in on ITCI. Zacks Investment Research upgraded shares of Intra-Cellular Therapies from a hold rating to a buy rating and set a $17.00 price target on the stock in a research note on Wednesday, November 8th. SunTrust Banks upgraded shares of Intra-Cellular Therapies from a hold rating to a buy rating in a research note on Wednesday, November 8th. BidaskClub cut shares of Intra-Cellular Therapies from a sell rating to a strong sell rating in a research note on Tuesday, December 12th. Finally, Canaccord Genuity assumed coverage on shares of Intra-Cellular Therapies in a research note on Friday, December 15th. They set a buy rating and a $31.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $27.09.

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Shares of Intra-Cellular Therapies stock traded up $0.48 on Wednesday, hitting $21.05. 243,648 shares of the company’s stock were exchanged, compared to its average volume of 659,507. Intra-Cellular Therapies has a 1 year low of $7.85 and a 1 year high of $25.82.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.06). The business had revenue of $5.06 million for the quarter, compared to analysts’ expectations 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%. The company’s revenue was down 94.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.64) EPS. equities analysts expect that Intra-Cellular Therapies will post -3.33 EPS for the current fiscal year.

In other Intra-Cellular Therapies news, VP Lawrence J. Hineline sold 49,700 shares of Intra-Cellular Therapies stock in a transaction on Friday, February 16th. The shares were sold at an average price of $20.02, for a total value of $994,994.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Lawrence J. Hineline sold 3,192 shares of Intra-Cellular Therapies stock in a transaction on 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 sale, 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. Over the last quarter, insiders sold 98,210 shares of company stock worth $1,846,548. 19.80% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Nationwide Fund Advisors increased its holdings in shares of Intra-Cellular Therapies by 8.1% in the 2nd quarter. Nationwide Fund Advisors now owns 27,928 shares of the biopharmaceutical company’s stock worth $347,000 after buying an additional 2,099 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of Intra-Cellular Therapies by 16.0% in the 2nd quarter. Voya Investment Management LLC now owns 16,911 shares of the biopharmaceutical company’s stock worth $210,000 after buying an additional 2,338 shares during the last quarter. Ellington Management Group LLC increased its holdings in shares of Intra-Cellular Therapies by 26.9% in the 4th quarter. Ellington Management Group LLC now owns 17,000 shares of the biopharmaceutical company’s stock worth $246,000 after buying an additional 3,600 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Intra-Cellular Therapies by 45.9% in the 3rd quarter. SG Americas Securities LLC now owns 12,060 shares of the biopharmaceutical company’s stock worth $190,000 after buying an additional 3,794 shares during the last quarter. Finally, American International Group Inc. increased its holdings in shares of Intra-Cellular Therapies by 26.3% in the 4th quarter. American International Group Inc. now owns 28,590 shares of the biopharmaceutical company’s stock worth $414,000 after buying an additional 5,955 shares during the last quarter. Hedge funds and other institutional investors own 70.47% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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