Intra-Cellular Therapies Inc. (ITCI) Upgraded to Sell at ValuEngine
Intra-Cellular Therapies Inc. (NASDAQ:ITCI) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report released on Friday.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, May 16th. Leerink Swann downgraded shares of Intra-Cellular Therapies from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $29.00 to $10.00 in a research note on Tuesday, May 2nd. Cantor Fitzgerald set a $29.00 price target on shares of Intra-Cellular Therapies and gave the stock a “buy” rating in a research note on Thursday, May 11th. BidaskClub downgraded shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, Piper Jaffray Companies set a $10.00 price target on shares of Intra-Cellular Therapies and gave the stock a “hold” rating in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $24.43.
Shares of Intra-Cellular Therapies (NASDAQ ITCI) traded down 2.71% during midday trading on Friday, hitting $11.11. 259,170 shares of the stock were exchanged. Intra-Cellular Therapies has a 12 month low of $7.85 and a 12 month high of $45.20. The stock’s market cap is $482.44 million. The firm has a 50 day moving average of $11.81 and a 200-day moving average of $12.48.
Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $0.11 million for the quarter, compared to the consensus estimate of $0.03 million. During the same quarter in the prior year, the firm posted ($0.71) earnings per share. The business’s revenue for the quarter was down 52.2% on a year-over-year basis. Equities research analysts anticipate that Intra-Cellular Therapies will post ($2.43) EPS for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Intra-Cellular Therapies during the second quarter valued at approximately $103,000. Bank of America Corp DE boosted its position in shares of Intra-Cellular Therapies by 53.4% in the first quarter. Bank of America Corp DE now owns 9,660 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 3,363 shares during the last quarter. Fred Alger Management Inc. acquired a new position in shares of Intra-Cellular Therapies during the second quarter valued at about $161,000. Highbridge Capital Management LLC acquired a new position in shares of Intra-Cellular Therapies during the fourth quarter valued at about $166,000. Finally, Nine Chapters Capital Management LLC acquired a new position in shares of Intra-Cellular Therapies during the first quarter valued at about $166,000. 66.66% of the stock is currently owned by institutional investors.
About Intra-Cellular Therapies
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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