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

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BidaskClub cut shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a sell rating to a strong sell rating in a research note published on Tuesday morning, BidAskClub reports.

Other analysts also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed an overweight rating and set a $29.00 price objective (up previously from $26.00) on shares of Intra-Cellular Therapies in a research report on Thursday, May 23rd. Cowen reaffirmed a buy rating and set a $28.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, July 8th. Zacks Investment Research downgraded shares of Hancock Jaffe Laboratories from a buy rating to a hold rating in a research report on Wednesday, June 26th. Finally, ValuEngine raised shares of XCel Brands from a sell rating to a hold rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $27.67.

Shares of ITCI stock opened at $11.19 on Tuesday. Intra-Cellular Therapies has a 52 week low of $10.09 and a 52 week 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’s 50 day moving average is $12.66.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.27. On average, sell-side analysts expect that Intra-Cellular Therapies will post -3.71 earnings per share for the current fiscal year.

In other Intra-Cellular Therapies news, Director Christopher D. Alafi purchased 170,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was acquired at an average price of $11.73 per share, for a total transaction of $1,994,100.00. Following the purchase, the director now owns 750,106 shares of the company’s stock, valued at approximately $8,798,743.38. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher D. Alafi purchased 100,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were acquired at an average price of $12.56 per share, with a total value of $1,256,000.00. Following the purchase, the director now directly owns 750,106 shares in the company, valued at approximately $9,421,331.36. The disclosure for this purchase can be found here. Insiders own 18.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its stake in 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 valued at $126,000 after purchasing an additional 9,307 shares in the last quarter. First Mercantile Trust Co. increased its stake in Intra-Cellular Therapies by 12.3% during the 1st quarter. First Mercantile Trust Co. now owns 11,522 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 1,265 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Intra-Cellular Therapies during the 4th quarter valued at $142,000. Metropolitan Life Insurance Co. NY increased its stake in Intra-Cellular Therapies by 354.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 14,016 shares of the biopharmaceutical company’s stock valued at $160,000 after purchasing an additional 10,934 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Intra-Cellular Therapies by 9.4% during the 4th quarter. Legal & General Group Plc now owns 16,044 shares of the biopharmaceutical company’s stock valued at $183,000 after purchasing an additional 1,374 shares in the last quarter. Institutional investors and hedge funds own 69.15% of the company’s stock.

About Intra-Cellular Therapies

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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