SunTrust Banks Research Analysts Decrease Earnings Estimates for Intra-Cellular Therapies Inc. (ITCI)
Intra-Cellular Therapies Inc. (NASDAQ:ITCI) – Analysts at SunTrust Banks cut their FY2017 earnings per share (EPS) estimates for Intra-Cellular Therapies in a note issued to investors on Thursday. SunTrust Banks analyst E. Nash now expects that the brokerage will earn ($3.07) per share for the year, down from their prior forecast of ($2.85). SunTrust Banks has a “Neutral” rating and a $15.00 price objective on the stock. SunTrust Banks also issued estimates for Intra-Cellular Therapies’ FY2018 earnings at ($3.45) EPS, FY2019 earnings at ($3.04) EPS and FY2020 earnings at ($2.00) EPS.
A number of other brokerages have also issued reports on ITCI. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $57.00 price objective on shares of Intra-Cellular Therapies in a report on Tuesday, September 13th. JMP Securities lowered shares of Intra-Cellular Therapies from an “outperform” rating to a “market perform” rating in a report on Thursday, September 29th. Royal Bank Of Canada cut their target price on shares of Intra-Cellular Therapies from $74.00 to $49.00 and set an “outperform” rating for the company in a report on Thursday, September 29th. Leerink Swann reissued a “buy” rating and issued a $95.00 target price on shares of Intra-Cellular Therapies in a report on Thursday, August 11th. Finally, Cowen and Company reissued a “buy” rating and issued a $75.00 target price on shares of Intra-Cellular Therapies in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $42.00.
Intra-Cellular Therapies (NASDAQ:ITCI) traded down 0.5980% during midday trading on Monday, reaching $14.5624. 195,653 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $38.78 and a 200 day moving average price of $37.20. The company’s market cap is $629.84 million. Intra-Cellular Therapies has a 12-month low of $14.35 and a 12-month high of $59.96.
Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.71) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.08. The company earned $0.23 million during the quarter, compared to analyst estimates of $0.02 million. The company’s revenue for the quarter was up 283.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.61) earnings per share.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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 during the last quarter. BB Biotech AG purchased a new position in Intra-Cellular Therapies during the second quarter valued at approximately $27,174,000. TimesSquare Capital Management LLC raised its position 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 valued at $42,378,000 after buying an additional 205,955 shares during the last quarter. Columbus Circle Investors raised its position 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 valued at $21,433,000 after buying an additional 157,498 shares during the last quarter. Finally, Ghost Tree Capital LLC purchased a new position in Intra-Cellular Therapies during the second quarter valued at approximately $4,658,000. 70.15% of the stock is 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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