Intra-Cellular Therapies Inc. (ITCI) Given Market Perform Rating at Leerink Swann
Leerink Swann restated their market perform rating on shares of Intra-Cellular Therapies Inc. (NASDAQ:ITCI) in a research note issued to investors on Tuesday morning. The brokerage currently has a $12.00 target price on the biopharmaceutical company’s stock. Leerink Swann also issued estimates for Intra-Cellular Therapies’ Q3 2017 earnings at ($0.48) EPS, Q4 2017 earnings at ($0.55) EPS, FY2017 earnings at ($2.06) EPS, FY2018 earnings at ($2.44) EPS and FY2019 earnings at ($2.57) EPS.
Other equities analysts also recently issued research reports about the company. BidaskClub downgraded Intra-Cellular Therapies from a hold rating to a sell rating in a research report on Saturday, August 5th. Zacks Investment Research raised Intra-Cellular Therapies from a hold rating to a buy rating and set a $12.00 target price for the company in a report on Tuesday. Cantor Fitzgerald set a $29.00 target price on Intra-Cellular Therapies and gave the company a buy rating in a report on Thursday, May 11th. Piper Jaffray Companies set a $10.00 target price on Intra-Cellular Therapies and gave the company a hold rating in a report on Thursday, August 10th. Finally, Ladenburg Thalmann Financial Services cut Intra-Cellular Therapies from a buy rating to a neutral rating in a report on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $24.43.
Shares of Intra-Cellular Therapies (ITCI) opened at 11.11 on Tuesday. The stock has a 50 day moving average price of $11.81 and a 200-day moving average price of $12.48. The stock’s market capitalization is $482.44 million. Intra-Cellular Therapies has a 1-year low of $7.85 and a 1-year high of $45.20.
Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.33. The company had revenue of $0.11 million for the quarter, compared to the consensus estimate of $0.03 million. Intra-Cellular Therapies had a negative return on equity of 27.92% and a negative net margin of 32,834.94%. Intra-Cellular Therapies’s revenue for the quarter was down 52.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.71) earnings per share. On average, analysts forecast that Intra-Cellular Therapies will post ($2.43) earnings per share for the current year.
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Several institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Intra-Cellular Therapies during the fourth quarter worth approximately $4,238,000. Teachers Advisors LLC boosted its position in shares of Intra-Cellular Therapies by 0.6% in the fourth quarter. Teachers Advisors LLC now owns 70,948 shares of the biopharmaceutical company’s stock worth $1,071,000 after buying an additional 443 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in Intra-Cellular Therapies during the fourth quarter valued at approximately $166,000. Macquarie Group Ltd. boosted its stake in Intra-Cellular Therapies by 84.3% in the fourth quarter. Macquarie Group Ltd. now owns 43,500 shares of the biopharmaceutical company’s stock valued at $656,000 after buying an additional 19,900 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Intra-Cellular Therapies by 699.4% in the first quarter. Bank of Montreal Can now owns 29,105 shares of the biopharmaceutical company’s stock valued at $473,000 after buying an additional 25,464 shares in the last quarter. 66.66% of the stock is owned by institutional investors and hedge funds.
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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