Intra-Cellular Therapies Inc. (ITCI) Receives Average Recommendation of “Buy” from Analysts
Shares of Intra-Cellular Therapies Inc. (NASDAQ:ITCI) have been assigned an average recommendation of “Buy” from the eleven research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $27.40.
Several research firms recently weighed in on ITCI. Piper Jaffray Companies set a $10.00 price target on shares of Intra-Cellular Therapies and gave the stock a “hold” rating in a research report on Thursday, August 10th. SunTrust Banks, Inc. upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a research report on Wednesday. Cantor Fitzgerald restated a “buy” rating on shares of Intra-Cellular Therapies in a research report on Wednesday, August 9th. BidaskClub downgraded shares of Intra-Cellular Therapies from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research downgraded shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th.
Shares of Intra-Cellular Therapies (NASDAQ ITCI) traded down $0.15 during trading on Friday, hitting $14.79. 281,500 shares of the company’s stock were exchanged, compared to its average volume of 490,509. 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 results on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, hitting the consensus estimate of ($0.53). Intra-Cellular Therapies had a negative net margin of 28,038.35% and a negative return on equity of 26.69%. The firm had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.06 million. During the same quarter in the prior year, the firm earned ($0.70) EPS. The company’s revenue for the quarter was up 675.0% on a year-over-year basis. sell-side analysts expect that Intra-Cellular Therapies will post -2.16 EPS for the current year.
In other Intra-Cellular Therapies news, major shareholder Alafi Capital Co Llc acquired 258,065 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was bought at an average price of $15.50 per share, with a total value of $4,000,007.50. Following the purchase, the insider now owns 3,953,270 shares in the company, valued at $61,275,685. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sharon Mates sold 18,750 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $15.75, for a total transaction of $295,312.50. Following the sale, the chief executive officer now directly owns 1,107,457 shares of the company’s stock, valued at approximately $17,442,447.75. The disclosure for this sale can be found here. 19.80% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wasatch Advisors Inc. grew its stake in shares of Intra-Cellular Therapies by 65.1% in the 2nd 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. Dimensional Fund Advisors LP grew its stake in shares of Intra-Cellular Therapies by 419.3% in the 2nd 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. grew its stake in shares of Intra-Cellular Therapies by 336.1% in the 2nd 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. JPMorgan Chase & Co. purchased a new stake in shares of Intra-Cellular Therapies in the 3rd quarter valued at approximately $6,310,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Intra-Cellular Therapies in the 1st quarter valued at approximately $4,485,000. 59.41% of the stock is owned by institutional investors.
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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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