Intra-Cellular Therapies Inc. (ITCI) Rating Reiterated by RBC Capital Markets
Intra-Cellular Therapies Inc. (NASDAQ:ITCI)‘s stock had its “outperform” rating reaffirmed by stock analysts at RBC Capital Markets in a report issued on Friday. They presently have a $49.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $74.00. RBC Capital Markets’ target price indicates a potential upside of 216.95% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Leerink Swann reissued a “buy” rating on shares of Intra-Cellular Therapies in a research note on Thursday, June 30th. Cowen and Company reissued a “buy” rating on shares of Intra-Cellular Therapies in a research note on Wednesday, June 29th. Zacks Investment Research raised shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Wednesday, June 29th. JMP Securities cut shares of Intra-Cellular Therapies from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 29th. Finally, SunTrust Banks Inc. cut shares of Intra-Cellular Therapies from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $60.00 to $15.00 in a research note on Thursday, September 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $42.00.
Intra-Cellular Therapies (NASDAQ:ITCI) opened at 15.46 on Friday. The stock’s market capitalization is $668.66 million. The firm’s 50-day moving average is $39.53 and its 200-day moving average is $37.26. Intra-Cellular Therapies has a 52 week low of $14.44 and a 52 week high of $59.96.
Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.79) by $0.08. The company earned $0.23 million during the quarter, compared to analysts’ expectations of $0.02 million. The business’s revenue for the quarter was up 283.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.61) EPS. On average, equities research analysts predict that Intra-Cellular Therapies will post ($3.19) EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Intra-Cellular Therapies by 49.6% in the second quarter. Vanguard Group Inc. now owns 2,355,713 shares of the biopharmaceutical company’s stock valued at $91,449,000 after buying an additional 781,550 shares in the last quarter. BB Biotech AG bought a new position in shares of Intra-Cellular Therapies during the second quarter valued at $27,174,000. TimesSquare Capital Management LLC raised its position in shares of Intra-Cellular Therapies by 15.6% in the first quarter. TimesSquare Capital Management LLC now owns 1,524,375 shares of the biopharmaceutical company’s stock valued at $42,378,000 after buying an additional 205,955 shares during the last quarter. Columbus Circle Investors raised its position in shares of Intra-Cellular Therapies by 39.9% in the second quarter. Columbus Circle Investors now owns 552,104 shares of the biopharmaceutical company’s stock valued at $21,433,000 after buying an additional 157,498 shares during the last quarter. Finally, Ghost Tree Capital LLC bought a new position in shares of Intra-Cellular Therapies during the second quarter valued at $4,658,000. 70.15% of the stock is currently owned by institutional investors.
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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