Intra-Cellular Therapies (ITCI) Cut to “Strong Sell” at BidaskClub

Intra-Cellular Therapies (NASDAQ:ITCI) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.

Several other brokerages also recently weighed in on ITCI. Zacks Investment Research upgraded Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Saturday, January 13th. Canaccord Genuity began coverage on Intra-Cellular Therapies in a research report on Friday, December 15th. They issued a “buy” rating and a $31.00 price objective for the company. ValuEngine downgraded Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 5th. Finally, SunTrust Banks upgraded Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $26.00.

Shares of Intra-Cellular Therapies (NASDAQ ITCI) traded down $0.74 on Friday, reaching $16.19. The company’s stock had a trading volume of 308,348 shares, compared to its average volume of 353,449. The stock has a market capitalization of $924.00, a price-to-earnings ratio of -7.36 and a beta of 0.86. Intra-Cellular Therapies has a 1-year low of $7.85 and a 1-year high of $22.67.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.53). The business had revenue of $0.03 million during 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 revenue for the quarter was up 675.0% on a year-over-year basis. During the same quarter in the prior 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 fiscal year.

In related news, Director Richard A. Lerner sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $15.09, for a total transaction of $105,630.00. Following the completion of 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 SEC, which is available through this hyperlink. Also, SVP Michael Halstead sold 25,500 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $18.03, for a total value of $459,765.00. Following the transaction, the senior vice president now owns 191 shares of the company’s stock, valued at approximately $3,443.73. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,160 shares of company stock valued at $966,934. 19.80% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new position in shares of Intra-Cellular Therapies during the third quarter valued at approximately $101,000. Quantbot Technologies LP raised its holdings in shares of Intra-Cellular Therapies by 233.1% during the third quarter. Quantbot Technologies LP now owns 8,614 shares of the biopharmaceutical company’s stock valued at $135,000 after acquiring an additional 6,028 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Intra-Cellular Therapies by 45.9% during the third quarter. SG Americas Securities LLC now owns 12,060 shares of the biopharmaceutical company’s stock valued at $190,000 after acquiring an additional 3,794 shares in the last quarter. Fred Alger Management Inc. bought a new position in shares of Intra-Cellular Therapies during the second quarter valued at approximately $161,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Intra-Cellular Therapies during the third quarter valued at approximately $244,000. Institutional investors own 74.39% 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).

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

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