Intra-Cellular Therapies (NASDAQ:ITCI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The firm currently has a $20.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.86% from the company’s current price.
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. “
A number of other analysts have also weighed in on the stock. ValuEngine lowered shares of Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 5th. SunTrust Banks upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a research note on Wednesday, November 8th. BidaskClub lowered shares of Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. Finally, Canaccord Genuity began coverage on shares of Intra-Cellular Therapies in a research note on Friday, December 15th. They set a “buy” rating and a $31.00 target price on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Intra-Cellular Therapies has an average rating of “Buy” and a consensus price target of $26.00.
Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.53). Intra-Cellular Therapies had a negative net margin of 28,038.35% and a negative return on equity of 27.40%. 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 earned ($0.70) earnings per share. The business’s quarterly revenue was up 675.0% compared to the same quarter last year. analysts predict that Intra-Cellular Therapies will post -2.13 EPS for the current fiscal year.
In related news, CEO Sharon Mates sold 18,750 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $15.75, for a total value of $295,312.50. Following the completion of the transaction, the chief executive officer now directly owns 1,107,457 shares of the company’s stock, valued at $17,442,447.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Lawrence J. Hineline sold 3,192 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $15.67, for a total value of $50,018.64. Following the completion of the sale, the chief financial officer now directly owns 68,686 shares of the company’s stock, valued at $1,076,309.62. The disclosure for this sale can be found here. Insiders sold 49,410 shares of company stock valued at $802,481 over the last ninety days. 19.80% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new stake in shares of Intra-Cellular Therapies in the third quarter valued at approximately $4,114,000. Goldman Sachs Group Inc. boosted its holdings in shares of Intra-Cellular Therapies by 336.1% in the second quarter. Goldman Sachs Group Inc. now owns 580,770 shares of the biopharmaceutical company’s stock valued at $7,213,000 after acquiring an additional 447,586 shares during the period. Swiss National Bank boosted its holdings in shares of Intra-Cellular Therapies by 31.0% in the third quarter. Swiss National Bank now owns 69,800 shares of the biopharmaceutical company’s stock valued at $1,101,000 after acquiring an additional 16,500 shares during the period. First Midwest Bank Trust Division boosted its holdings in shares of Intra-Cellular Therapies by 18.2% in the third quarter. First Midwest Bank Trust Division now owns 184,836 shares of the biopharmaceutical company’s stock valued at $2,917,000 after acquiring an additional 28,487 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Intra-Cellular Therapies in the third quarter valued at approximately $390,000. 74.47% of the stock is 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).
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