BidaskClub Upgrades Intra-Cellular Therapies (ITCI) to Sell

Intra-Cellular Therapies (NASDAQ:ITCI) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Friday.

Several other analysts have also issued reports on the company. Zacks Investment Research raised Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Wednesday, November 8th. BTIG Research reissued a “buy” rating and set a $36.00 target price on shares of Intra-Cellular Therapies in a report on Friday, September 8th. Piper Jaffray Companies raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $14.00 to $33.00 in a report on Thursday, September 7th. SunTrust Banks reissued a “hold” rating and set a $22.00 target price (up from $16.00) on shares of Intra-Cellular Therapies in a report on Friday, September 8th. Finally, ValuEngine lowered Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Intra-Cellular Therapies currently has an average rating of “Buy” and a consensus target price of $25.56.

Shares of Intra-Cellular Therapies (NASDAQ ITCI) traded up $0.13 during midday trading on Friday, reaching $17.47. The company’s stock had a trading volume of 990,000 shares, compared to its average volume of 443,629. Intra-Cellular Therapies has a 52-week low of $7.85 and a 52-week high of $22.67. The firm has a market cap of $953.47, a price-to-earnings ratio of -7.98 and a beta of 0.72.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) EPS for the quarter, meeting analysts’ consensus estimates of ($0.53). Intra-Cellular Therapies had a negative return on equity of 27.40% and a negative net margin of 28,038.35%. The firm had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.06 million. During the same period in the prior year, the firm posted ($0.70) EPS. The company’s revenue for the quarter was up 675.0% on a year-over-year basis. sell-side analysts forecast that Intra-Cellular Therapies will post -2.13 earnings per share for the current fiscal year.

In related news, CFO Lawrence J. Hineline sold 3,192 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $15.67, for a total value of $50,018.64. Following the sale, the chief financial officer now directly owns 68,686 shares of the company’s stock, valued at $1,076,309.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher D. Alafi acquired 10,000 shares of Intra-Cellular Therapies stock in a transaction that occurred on Wednesday, November 22nd. The stock was acquired at an average cost of $15.55 per share, for a total transaction of $155,500.00. Following the completion of the purchase, the director now directly owns 744,466 shares of the company’s stock, valued at $11,576,446.30. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 42,034 shares of company stock worth $673,564. 19.80% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. BB Biotech AG boosted its stake in Intra-Cellular Therapies by 11.7% in the second quarter. BB Biotech AG now owns 2,150,000 shares of the biopharmaceutical company’s stock valued at $26,703,000 after buying an additional 225,000 shares in the last quarter. Wasatch Advisors Inc. boosted its stake in Intra-Cellular Therapies by 18.7% in the third quarter. Wasatch Advisors Inc. now owns 1,970,181 shares of the biopharmaceutical company’s stock valued at $31,089,000 after buying an additional 310,668 shares in the last quarter. State Street Corp boosted its stake in Intra-Cellular Therapies by 10.4% in the second quarter. State Street Corp now owns 1,004,360 shares of the biopharmaceutical company’s stock valued at $12,474,000 after buying an additional 94,763 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Intra-Cellular Therapies by 45.1% in the third quarter. Dimensional Fund Advisors LP now owns 938,980 shares of the biopharmaceutical company’s stock valued at $14,817,000 after buying an additional 291,793 shares in the last quarter. Finally, Perceptive Advisors LLC acquired a new stake in Intra-Cellular Therapies in the third quarter valued at about $14,667,000. 74.47% of the stock is currently owned by institutional investors and hedge funds.

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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).

Analyst Recommendations for Intra-Cellular Therapies (NASDAQ:ITCI)

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