Intra-Cellular Therapies (NASDAQ:ITCI) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a hold rating to a buy rating in a research report report published on Wednesday, January 3rd. The firm currently has $16.00 price target on the biopharmaceutical company’s stock.
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. “
A number of other research firms have also recently weighed in on ITCI. ValuEngine cut shares of Intra-Cellular Therapies from a sell rating to a strong sell rating in a report on Tuesday, December 5th. BidaskClub lowered shares of Intra-Cellular Therapies from a sell rating to a strong sell rating in a research report on Tuesday, December 12th. SunTrust Banks reaffirmed a hold rating and issued a $22.00 price objective (up from $16.00) on shares of Intra-Cellular Therapies in a research report on Friday, September 8th. Canaccord Genuity assumed coverage on shares of Intra-Cellular Therapies in a research report on Friday, December 15th. They issued a buy rating and a $31.00 price objective for the company. Finally, BTIG Research reissued a buy rating and set a $36.00 price target on shares of Intra-Cellular Therapies in a research report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $26.00.
Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.53). Intra-Cellular Therapies had a negative net margin of 28,038.35% and a negative return on equity of 27.40%. The business had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.06 million. During the same period last year, the business earned ($0.70) EPS. The company’s revenue was up 675.0% compared to the same quarter last year. equities analysts expect that Intra-Cellular Therapies will post -2.13 EPS for the current year.
In related news, SVP Michael Halstead sold 25,500 shares of Intra-Cellular Therapies stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $18.03, for a total value of $459,765.00. Following the sale, the senior vice president now owns 191 shares of the company’s stock, valued at approximately $3,443.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Sharon Mates sold 11,257 shares of Intra-Cellular Therapies stock in a transaction on Friday, January 5th. The stock was sold at an average price of $17.08, for a total transaction of $192,269.56. Following the sale, the chairman now directly owns 1,099,964 shares in the company, valued at approximately $18,787,385.12. The disclosure for this sale can be found here. Insiders sold a total of 56,160 shares of company stock worth $966,934 in the last three months. 21.00% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ITCI. Russell Investments Group Ltd. acquired a new stake in Intra-Cellular Therapies during the 3rd quarter worth $101,000. SG Americas Securities LLC acquired a new stake in Intra-Cellular Therapies during the 2nd quarter worth $103,000. Quantbot Technologies LP boosted its stake in Intra-Cellular Therapies by 233.1% during the 3rd quarter. Quantbot Technologies LP now owns 8,614 shares of the biopharmaceutical company’s stock worth $135,000 after purchasing an additional 6,028 shares during the last quarter. Fred Alger Management Inc. acquired a new stake in Intra-Cellular Therapies during the 2nd quarter worth $161,000. Finally, Voya Investment Management LLC boosted its stake in Intra-Cellular Therapies by 16.0% during the 2nd quarter. Voya Investment Management LLC now owns 16,911 shares of the biopharmaceutical company’s stock worth $210,000 after purchasing an additional 2,338 shares during the last quarter. 74.39% of the stock is currently owned by institutional investors.
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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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