Intra-Cellular Therapies Inc. (ITCI) Receives Average Recommendation of “Hold” from Brokerages
Shares of Intra-Cellular Therapies Inc. (NASDAQ:ITCI) have been assigned a consensus rating of “Hold” from the eleven brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $24.14.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday, May 16th. Leerink Swann cut Intra-Cellular Therapies from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $29.00 to $10.00 in a research note on Tuesday, May 2nd. Cantor Fitzgerald set a $29.00 target price on Intra-Cellular Therapies and gave the company a “buy” rating in a research note on Thursday, May 11th. ValuEngine cut Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. Finally, Ladenburg Thalmann Financial Services cut Intra-Cellular Therapies from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 2nd.
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Shares of Intra-Cellular Therapies (NASDAQ:ITCI) traded down 0.72% during trading on Monday, hitting $12.44. The stock had a trading volume of 152,199 shares. The firm has a 50 day moving average price of $11.58 and a 200-day moving average price of $12.87. The stock’s market capitalization is $540.14 million. Intra-Cellular Therapies has a 52 week low of $7.85 and a 52 week high of $45.20.
Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.62) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.74) by $0.12. The company had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.02 million. Intra-Cellular Therapies had a negative return on equity of 29.74% and a negative net margin of 27,180.94%. During the same quarter last year, the business posted ($0.64) EPS. On average, equities research analysts forecast that Intra-Cellular Therapies will post ($3.03) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in ITCI. State Street Corp boosted its position in shares of Intra-Cellular Therapies by 18.0% in the fourth quarter. State Street Corp now owns 972,868 shares of the biopharmaceutical company’s stock worth $14,686,000 after buying an additional 148,745 shares during the last quarter. Highbridge Capital Management LLC bought a new position in shares of Intra-Cellular Therapies during the fourth quarter worth about $166,000. Franklin Street Advisors Inc. NC boosted its position in shares of Intra-Cellular Therapies by 135.6% in the first quarter. Franklin Street Advisors Inc. NC now owns 26,060 shares of the biopharmaceutical company’s stock worth $423,000 after buying an additional 15,000 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Intra-Cellular Therapies during the fourth quarter worth about $574,000. Finally, Norges Bank acquired a new stake in Intra-Cellular Therapies during the fourth quarter worth approximately $4,238,000. Institutional investors and hedge funds own 67.81% of the company’s stock.
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).
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