Leerink Swann Reiterates “Outperform” Rating for Intra-Cellular Therapies Inc. (ITCI)
Intra-Cellular Therapies Inc. (NASDAQ:ITCI)‘s stock had its “outperform” rating reiterated by equities researchers at Leerink Swann in a research note issued to investors on Friday. They presently have a $29.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $95.00. Leerink Swann’s target price indicates a potential upside of 87.58% from the company’s current price.
Other research analysts have also recently issued reports about the company. Cowen and Company reaffirmed a “buy” rating on shares of Intra-Cellular Therapies in a research report on Wednesday, June 29th. Zacks Investment Research raised Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Wednesday, June 29th. JMP Securities cut Intra-Cellular Therapies from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 29th. SunTrust Banks Inc. cut Intra-Cellular Therapies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $60.00 to $15.00 in a research report on Thursday, September 29th. Finally, Royal Bank Of Canada reduced their price objective on Intra-Cellular Therapies from $74.00 to $49.00 and set an “outperform” rating for the company in a research report on Thursday, September 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $42.00.
Intra-Cellular Therapies (NASDAQ:ITCI) opened at 15.46 on Friday. The firm has a 50-day moving average price of $39.53 and a 200 day moving average price of $37.26. The company’s market capitalization is $668.66 million. Intra-Cellular Therapies has a 12 month low of $14.44 and a 12 month high of $59.96.
Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.08. The firm had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.02 million. The firm’s quarterly revenue was up 283.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.61) earnings per share. Analysts expect that Intra-Cellular Therapies will post ($3.19) EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of 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 during the period. BB Biotech AG acquired a new stake in Intra-Cellular Therapies during the second quarter worth about $27,174,000. TimesSquare Capital Management LLC boosted its stake in 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 worth $42,378,000 after buying an additional 205,955 shares during the last quarter. Columbus Circle Investors boosted its stake in Intra-Cellular Therapies by 39.9% in the second quarter. Columbus Circle Investors now owns 552,104 shares of the biopharmaceutical company’s stock worth $21,433,000 after buying an additional 157,498 shares during the last quarter. Finally, Ghost Tree Capital LLC acquired a new stake in Intra-Cellular Therapies during the second quarter worth about $4,658,000. 70.15% of the stock is owned by hedge funds and other institutional investors.
Intra-Cellular Therapies Company Profile
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).
Receive News & Stock Ratings for Intra-Cellular Therapies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intra-Cellular Therapies Inc. and related stocks with our FREE daily email newsletter.