Intra-Cellular Therapies’ (ITCI) “Hold” Rating Reiterated at SunTrust Banks, Inc.
SunTrust Banks, Inc. reissued their hold rating on shares of Intra-Cellular Therapies Inc. (NASDAQ:ITCI) in a research note issued to investors on Friday. The brokerage currently has a $22.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $16.00. SunTrust Banks also issued estimates for Intra-Cellular Therapies’ FY2018 earnings at ($2.52) EPS.
Other equities analysts have also recently issued reports about the company. BidaskClub cut Intra-Cellular Therapies from a hold rating to a sell rating in a research report on Saturday, August 5th. ValuEngine upgraded Intra-Cellular Therapies from a strong sell rating to a sell rating in a research report on Friday, August 18th. Leerink Swann reiterated a market perform rating and set a $12.00 price target on shares of Intra-Cellular Therapies in a research report on Tuesday, August 15th. Zacks Investment Research upgraded Intra-Cellular Therapies from a hold rating to a buy rating and set a $12.00 target price on the stock in a report on Tuesday, August 15th. Finally, JMP Securities upgraded Intra-Cellular Therapies from a market perform rating to an outperform rating and set a $24.00 target price on the stock in a report on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $27.11.
Shares of Intra-Cellular Therapies (NASDAQ:ITCI) opened at 20.90 on Friday. Intra-Cellular Therapies has a 12 month low of $7.85 and a 12 month high of $45.20. The stock’s market capitalization is $907.56 million. The stock has a 50 day moving average price of $13.70 and a 200 day moving average price of $12.79.
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, 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 company had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $0.03 million. During the same period last year, the firm earned ($0.71) EPS. The firm’s revenue for the quarter was down 52.2% on a year-over-year basis. On average, analysts anticipate that Intra-Cellular Therapies will post ($2.36) EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in shares of Intra-Cellular Therapies in the 2nd quarter worth $103,000. Bank of America Corp DE grew its holdings in shares of Intra-Cellular Therapies by 53.4% during 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 in the last quarter. Fred Alger Management Inc. purchased a new position in shares of Intra-Cellular Therapies during the second quarter valued at $161,000. Nine Chapters Capital Management LLC purchased a new position in shares of Intra-Cellular Therapies during the first quarter valued at $166,000. Finally, Voya Investment Management LLC grew its holdings in shares of Intra-Cellular Therapies by 16.0% during the second quarter. Voya Investment Management LLC now owns 16,911 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 2,338 shares in the last quarter. Institutional investors and hedge funds own 71.79% 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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