Intra-Cellular Therapies Inc. (ITCI) Given a $22.00 Price Target by Piper Jaffray Cos. Analysts
Intra-Cellular Therapies Inc. (NASDAQ:ITCI) has been assigned a $22.00 target price by equities researchers at Piper Jaffray Cos. in a research report issued to clients and investors on Monday. The firm presently has a a “buy” rating on the biopharmaceutical company’s stock. Piper Jaffray Cos.’s target price points to a potential upside of 45.79% from the stock’s current price.
A number of other research firms have also weighed in on ITCI. Leerink Swann reissued a “buy” rating and set a $95.00 price objective on shares of Intra-Cellular Therapies in a research note on Thursday, August 11th. Royal Bank Of Canada dropped their price objective on Intra-Cellular Therapies from $74.00 to $49.00 and set an “outperform” rating for the company in a research note on Thursday, September 29th. Zacks Investment Research raised Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Wednesday, June 29th. RBC Capital Markets reissued an “outperform” rating and set a $49.00 price objective (down previously from $74.00) on shares of Intra-Cellular Therapies in a research note on Friday, September 30th. Finally, JMP Securities lowered Intra-Cellular Therapies from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Intra-Cellular Therapies presently has an average rating of “Hold” and a consensus price target of $42.00.
Shares of Intra-Cellular Therapies (NASDAQ:ITCI) traded down 4.11% during midday trading on Monday, reaching $14.47. 660,286 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $35.84 and a 200 day moving average price of $36.87. Intra-Cellular Therapies has a 12 month low of $14.25 and a 12 month high of $59.96. The company’s market cap is $625.84 million.
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Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.79) by $0.08. The firm earned $0.23 million during the quarter, compared to analysts’ expectations of $0.02 million. The firm’s quarterly revenue was up 283.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.61) EPS. Equities research analysts forecast that Intra-Cellular Therapies will post ($3.19) earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its position in Intra-Cellular Therapies by 23.1% in the second quarter. Royal Bank of Canada now owns 2,684 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 504 shares during the period. Bank of Montreal Can purchased a new position in Intra-Cellular Therapies during the second quarter worth about $155,000. Legal & General Group Plc increased its position in Intra-Cellular Therapies by 22.2% in the first quarter. Legal & General Group Plc now owns 4,085 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 742 shares during the period. Mycio Wealth Partners LLC increased its position in Intra-Cellular Therapies by 14.3% in the second quarter. Mycio Wealth Partners LLC now owns 4,398 shares of the biopharmaceutical company’s stock worth $171,000 after buying an additional 550 shares during the period. Finally, Teacher Retirement System of Texas increased its position in Intra-Cellular Therapies by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 4,532 shares of the biopharmaceutical company’s stock worth $176,000 after buying an additional 546 shares during the period. Institutional investors and hedge funds own 70.15% 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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