Intra-Cellular Therapies (NASDAQ:ITCI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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. “

Other research analysts have also issued reports about the company. ValuEngine lowered Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 27th. BidaskClub raised Intra-Cellular Therapies from a “strong sell” rating to a “sell” rating in a research report on Friday, January 5th. SunTrust Banks upgraded Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a research note on Wednesday, November 8th. Finally, Canaccord Genuity started coverage on Intra-Cellular Therapies in a research note on Friday, December 15th. They issued a “buy” rating and a $31.00 target price on the stock. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. Intra-Cellular Therapies presently has a consensus rating of “Buy” and an average target price of $26.11.

Intra-Cellular Therapies (NASDAQ ITCI) traded up $0.47 during trading hours on Friday, reaching $18.87. The company had a trading volume of 435,257 shares, compared to its average volume of 503,297. The firm has a market capitalization of $1,029.89, a price-to-earnings ratio of -8.58 and a beta of 0.70. Intra-Cellular Therapies has a 52-week low of $7.85 and a 52-week high of $22.67.

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

In other Intra-Cellular Therapies news, Director Richard A. Lerner sold 7,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $15.09, for a total value of $105,630.00. Following the transaction, the director now owns 8,621 shares in the company, valued at $130,090.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Sharon Mates sold 6,604 shares of the business’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $17.48, for a total value of $115,437.92. Following the completion of the transaction, the chairman now owns 1,088,707 shares in the company, valued at approximately $19,030,598.36. The disclosure for this sale can be found here. Insiders sold 49,410 shares of company stock worth $802,481 in the last 90 days. Corporate insiders own 19.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ITCI. Franklin Street Advisors Inc. NC boosted its stake in shares of Intra-Cellular Therapies by 236.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 54,060 shares of the biopharmaceutical company’s stock worth $783,000 after acquiring an additional 38,000 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Intra-Cellular Therapies by 80.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 69,191 shares of the biopharmaceutical company’s stock worth $1,092,000 after acquiring an additional 30,915 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Intra-Cellular Therapies during the 3rd quarter worth about $4,114,000. Perceptive Advisors LLC bought a new stake in shares of Intra-Cellular Therapies during the 3rd quarter worth about $14,667,000. Finally, Premier Asset Management LLC bought a new stake in shares of Intra-Cellular Therapies during the 3rd quarter worth about $291,000. Hedge funds and other institutional investors own 74.47% of the company’s stock.

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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).

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