Zacks Investment Research lowered shares of Intra-Cellular Therapies Inc. (NASDAQ:ITCI) from a buy rating to a hold rating in a report released on Tuesday, October 17th.
According to Zacks, “Intra-Cellular Therapies Inc. is a biopharmaceutical company. The company develops drugs for the treatment of neuropsychiatric and neurologic diseases and other disorders of the central nervous system. Its product candidates include ITI-007, ITI-002 and ITI-009 which is in clinical trials. Intra-Cellular Therapies Inc. is headquartered in New York. “
Several other equities research analysts also recently issued reports on the stock. Piper Jaffray Companies upgraded shares of Intra-Cellular Therapies from a neutral rating to an overweight rating and boosted their price objective for the stock from $14.00 to $33.00 in a research note on Thursday, September 7th. JMP Securities upgraded shares of Intra-Cellular Therapies from a market perform rating to an outperform rating and set a $24.00 target price for the company in a research note on Thursday, August 24th. ValuEngine raised shares of Intra-Cellular Therapies from a strong sell rating to a sell rating in a report on Friday, August 18th. Cowen and Company reissued an outperform rating and set a $27.00 target price (up from $20.00) on shares of Intra-Cellular Therapies in a report on Friday, September 8th. Finally, BidaskClub cut shares of Intra-Cellular Therapies from a buy rating to a hold rating in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $24.38.
Shares of Intra-Cellular Therapies (ITCI) traded up $0.20 on Tuesday, reaching $15.02. 70,973 shares of the company’s stock were exchanged, compared to its average volume of 1,030,000. Intra-Cellular Therapies has a one year low of $7.85 and a one year high of $22.67.
Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.33. Intra-Cellular Therapies had a negative net margin of 32,834.94% and a negative return on equity of 27.92%. The firm had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.03 million. During the same period in the previous year, the firm earned ($0.71) earnings per share. Intra-Cellular Therapies’s revenue was down 52.2% compared to the same quarter last year. equities analysts expect that Intra-Cellular Therapies will post -2.22 EPS for the current year.
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In related news, major shareholder Alafi Capital Co Llc purchased 258,065 shares of Intra-Cellular Therapies stock in a transaction dated Monday, October 2nd. The stock was acquired at an average cost of $15.50 per share, with a total value of $4,000,007.50. Following the completion of the transaction, the insider now directly owns 3,953,270 shares of the company’s stock, valued at $61,275,685. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sharon Mates sold 18,750 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $15.75, for a total transaction of $295,312.50. Following the completion of the sale, the chief executive officer now directly owns 1,107,457 shares of the company’s stock, valued at $17,442,447.75. The disclosure for this sale can be found here. Company insiders own 21.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ITCI. SG Americas Securities LLC acquired a new position in Intra-Cellular Therapies during the second quarter valued at approximately $103,000. Bank of America Corp DE grew its holdings in Intra-Cellular Therapies by 53.4% during the first quarter. Bank of America Corp DE now owns 9,660 shares of the biopharmaceutical company’s stock valued at $157,000 after purchasing an additional 3,363 shares during the last quarter. Fred Alger Management Inc. acquired a new position in Intra-Cellular Therapies during the second quarter valued at approximately $161,000. Voya Investment Management LLC grew its holdings in Intra-Cellular Therapies by 16.0% during the second 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 last quarter. Finally, Citigroup Inc. grew its holdings in Intra-Cellular Therapies by 32.8% during the second quarter. Citigroup Inc. now owns 17,395 shares of the biopharmaceutical company’s stock valued at $216,000 after purchasing an additional 4,295 shares during the last quarter. Institutional investors own 59.41% of the company’s stock.
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).
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