Intra-Cellular Therapies Inc (NASDAQ:ITCI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, May 9th.

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. “

ITCI has been the topic of a number of other reports. Leerink Swann restated an “outperform” rating on shares of Intra-Cellular Therapies in a report on Monday, March 20th. Cowen and Company restated a “buy” rating on shares of Intra-Cellular Therapies in a report on Wednesday, March 1st. Piper Jaffray Companies restated an “overweight” rating and issued a $22.00 price objective on shares of Intra-Cellular Therapies in a report on Thursday, February 23rd. Cantor Fitzgerald reduced their price objective on shares of Intra-Cellular Therapies from $32.00 to $29.00 and set an “overweight” rating on the stock in a report on Tuesday, May 2nd. Finally, Ladenburg Thalmann Financial Services lowered shares of Intra-Cellular Therapies from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 2nd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Intra-Cellular Therapies presently has an average rating of “Buy” and an average target price of $30.50.

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

Intra-Cellular Therapies (NASDAQ:ITCI) traded down 0.28% during mid-day trading on Tuesday, hitting $10.69. The company had a trading volume of 273,854 shares. Intra-Cellular Therapies has a 1-year low of $7.85 and a 1-year high of $45.20. The firm’s market capitalization is $464.16 million. The company has a 50 day moving average of $12.34 and a 200 day moving average of $13.88.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.74) by $0.12. The firm had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.02 million. During the same quarter in the previous year, the business posted ($0.64) earnings per share. Analysts predict that Intra-Cellular Therapies will post ($3.03) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2017/05/20/intra-cellular-therapies-inc-itci-stock-rating-lowered-by-zacks-investment-research-updated.html.

A number of large investors have recently made changes to their positions in ITCI. Pacad Investment Ltd. bought a new stake in shares of Intra-Cellular Therapies during the fourth quarter valued at approximately $130,000. Bank of America Corp DE increased its position in shares of Intra-Cellular Therapies by 53.4% in the first quarter. Bank of America Corp DE now owns 9,660 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 3,363 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Intra-Cellular Therapies during the fourth quarter valued at about $166,000. Nine Chapters Capital Management LLC acquired a new position in shares of Intra-Cellular Therapies during the first quarter valued at about $166,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of Intra-Cellular Therapies during the fourth quarter valued at about $186,000. Hedge funds and other institutional investors own 64.02% of the company’s stock.

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).

12 Month Chart for NASDAQ:ITCI

Get a free copy of the Zacks research report on Intra-Cellular Therapies (ITCI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.