Intra-Cellular Therapies Inc. (ITCI) Stock Rating Upgraded by Zacks Investment Research
Intra-Cellular Therapies Inc. (NASDAQ:ITCI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $17.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 13.79% from the company’s current price.
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. “
A number of other analysts have also recently weighed in on ITCI. Piper Jaffray Companies set a $10.00 price objective on shares of Intra-Cellular Therapies and gave the stock a “hold” rating in a report on Thursday, August 10th. Cantor Fitzgerald reissued a “buy” rating on shares of Intra-Cellular Therapies in a report on Wednesday, August 9th. BidaskClub cut shares of Intra-Cellular Therapies from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. ValuEngine raised shares of Intra-Cellular Therapies from a “strong sell” rating to a “sell” rating in a report on Friday, August 18th. Finally, JMP Securities raised shares of Intra-Cellular Therapies from a “market perform” rating to an “outperform” rating and set a $24.00 price objective on the stock in a report on Thursday, August 24th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. Intra-Cellular Therapies has a consensus rating of “Buy” and a consensus target price of $25.00.
Shares of Intra-Cellular Therapies (NASDAQ ITCI) opened at $14.94 on Wednesday. Intra-Cellular Therapies has a 1-year low of $7.85 and a 1-year high of $22.67.
Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.53). Intra-Cellular Therapies had a negative net margin of 32,834.94% and a negative return on equity of 27.92%. The company had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.06 million. During the same quarter last year, the company earned ($0.70) earnings per share. The firm’s revenue for the quarter was up 675.0% on a year-over-year basis. equities analysts anticipate that Intra-Cellular Therapies will post -2.22 earnings per share for the current year.
In other news, CEO Sharon Mates sold 18,750 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $15.75, for a total transaction of $295,312.50. Following the transaction, the chief executive officer now directly owns 1,107,457 shares in the company, valued at $17,442,447.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Alafi Capital Co Llc bought 258,065 shares of the stock in a transaction dated Monday, October 2nd. The shares were acquired at an average price of $15.50 per share, for a total transaction of $4,000,007.50. Following the completion of the transaction, the insider now owns 3,953,270 shares of the company’s stock, valued at approximately $61,275,685. The disclosure for this purchase can be found here. Company insiders own 19.80% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in ITCI. Russell Investments Group Ltd. purchased a new position in shares of Intra-Cellular Therapies during the third quarter worth approximately $101,000. SG Americas Securities LLC purchased a new position in shares of Intra-Cellular Therapies during the second quarter worth approximately $103,000. Quantbot Technologies LP grew its position in shares of Intra-Cellular Therapies by 233.1% during the third quarter. Quantbot Technologies LP now owns 8,614 shares of the biopharmaceutical company’s stock worth $135,000 after acquiring an additional 6,028 shares during the last quarter. Bank of America Corp DE grew its position in Intra-Cellular Therapies by 53.4% in the 1st 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. Finally, Fred Alger Management Inc. purchased a new position in Intra-Cellular Therapies in the 2nd quarter valued at $161,000. Institutional investors and hedge funds own 59.41% 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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