JMP Securities Upgrades Intra-Cellular Therapies Inc. (ITCI) to Outperform
Intra-Cellular Therapies Inc. (NASDAQ:ITCI) was upgraded by analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage presently has a $24.00 target price on the biopharmaceutical company’s stock. JMP Securities’ price objective indicates a potential upside of 66.78% from the stock’s previous close.
ITCI has been the subject of a number of other research reports. ValuEngine cut Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Piper Jaffray Companies cut Intra-Cellular Therapies from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $22.00 to $10.00 in a research report on Monday, May 1st. Zacks Investment Research cut Intra-Cellular Therapies from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Cantor Fitzgerald dropped their price objective on Intra-Cellular Therapies from $32.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, May 2nd. Finally, Ladenburg Thalmann Financial Services cut Intra-Cellular Therapies from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. Intra-Cellular Therapies currently has a consensus rating of “Hold” and an average price target of $23.89.
Intra-Cellular Therapies (NASDAQ ITCI) opened at 14.39 on Thursday. The company’s market cap is $624.87 million. Intra-Cellular Therapies has a 52-week low of $7.85 and a 52-week high of $45.20. The firm’s 50-day moving average is $11.81 and its 200 day moving average is $12.43.
Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.33. The firm had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.03 million. Intra-Cellular Therapies had a negative return on equity of 27.92% and a negative net margin of 32,834.94%. The firm’s quarterly revenue was down 52.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.71) EPS. On average, equities research analysts predict that Intra-Cellular Therapies will post ($2.43) EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in Intra-Cellular Therapies during the second quarter valued at approximately $103,000. Bank of America Corp DE boosted its stake in 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 period. Fred Alger Management Inc. acquired a new stake in Intra-Cellular Therapies during the second quarter valued at approximately $161,000. Nine Chapters Capital Management LLC acquired a new stake in Intra-Cellular Therapies during the first quarter valued at approximately $166,000. Finally, Voya Investment Management LLC boosted its stake in Intra-Cellular Therapies by 16.0% in the second quarter. Voya Investment Management LLC now owns 16,911 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 2,338 shares during the period. Institutional investors own 66.66% 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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