Leerink Swann Upgrades Intra-Cellular Therapies Inc. (ITCI) to Outperform
Leerink Swann upgraded shares of Intra-Cellular Therapies Inc. (NASDAQ:ITCI) from a market perform rating to an outperform rating in a research note published on Wednesday, Marketbeat Ratings reports. Leerink Swann also issued estimates for Intra-Cellular Therapies’ FY2019 earnings at ($2.34) EPS.
ITCI has been the topic of several other research reports. ValuEngine lowered Intra-Cellular Therapies from a sell rating to a strong sell rating in a research note on Friday, June 2nd. Piper Jaffray Companies lowered Intra-Cellular Therapies from an overweight rating to a neutral rating and cut their target price for the company from $22.00 to $10.00 in a research note on Monday, May 1st. Zacks Investment Research lowered Intra-Cellular Therapies from a hold rating to a sell rating in a research note on Tuesday, May 9th. Cantor Fitzgerald cut their target price on Intra-Cellular Therapies from $32.00 to $29.00 and set an overweight rating on the stock in a research note on Tuesday, May 2nd. Finally, Ladenburg Thalmann Financial Services lowered Intra-Cellular Therapies from a buy rating to a neutral rating in a research note on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $24.33.
Shares of Intra-Cellular Therapies (ITCI) traded down 3.96% during midday trading on Wednesday, reaching $15.27. 1,128,915 shares of the company were exchanged. Intra-Cellular Therapies has a 52-week low of $7.85 and a 52-week high of $45.20. The firm’s 50 day moving average is $11.98 and its 200-day moving average is $12.46. The company’s market capitalization is $663.08 million.
Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.33. Intra-Cellular Therapies had a negative return on equity of 27.92% and a negative net margin of 32,834.94%. The firm had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.03 million. During the same quarter in the prior year, the firm posted ($0.71) earnings per share. The company’s quarterly revenue was down 52.2% on a year-over-year basis. On average, equities analysts forecast that Intra-Cellular Therapies will post ($2.43) earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in ITCI. Wasatch Advisors Inc. increased its stake in shares of Intra-Cellular Therapies by 65.1% in the second quarter. Wasatch Advisors Inc. now owns 1,659,513 shares of the biopharmaceutical company’s stock valued at $20,611,000 after buying an additional 654,400 shares during the period. Clough Capital Partners L P increased its stake in shares of Intra-Cellular Therapies by 157.0% in the first quarter. Clough Capital Partners L P now owns 898,750 shares of the biopharmaceutical company’s stock valued at $14,605,000 after buying an additional 549,100 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Intra-Cellular Therapies by 419.3% in the second quarter. Dimensional Fund Advisors LP now owns 647,187 shares of the biopharmaceutical company’s stock valued at $8,038,000 after buying an additional 522,565 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Intra-Cellular Therapies by 336.1% in the second quarter. Goldman Sachs Group Inc. now owns 580,770 shares of the biopharmaceutical company’s stock valued at $7,213,000 after buying an additional 447,586 shares during the period. Finally, BB Biotech AG increased its stake in shares of Intra-Cellular Therapies by 22.2% in the first quarter. BB Biotech AG now owns 1,925,000 shares of the biopharmaceutical company’s stock valued at $31,281,000 after buying an additional 350,000 shares during the period. Institutional investors own 66.66% 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).
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