Intra-Cellular Therapies (ITCI) Stock Rating Lowered by Zacks Investment Research

Intra-Cellular Therapies (NASDAQ:ITCI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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. “

Several other equities analysts have also recently issued reports on the company. BidaskClub raised Intra-Cellular Therapies from a “strong sell” rating to a “sell” rating in a research report on Friday, January 5th. ValuEngine cut Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Canaccord Genuity began coverage on Intra-Cellular Therapies in a research report on Friday, December 15th. They issued a “buy” rating and a $31.00 price objective on the stock. Finally, SunTrust Banks raised Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. Intra-Cellular Therapies presently has an average rating of “Buy” and an average price target of $26.11.

Intra-Cellular Therapies (NASDAQ ITCI) opened at $18.87 on Friday. Intra-Cellular Therapies has a 12-month low of $7.85 and a 12-month 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 (EPS) for the quarter, meeting the consensus estimate of ($0.53). The business had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.06 million. Intra-Cellular Therapies had a negative return on equity of 27.40% and a negative net margin of 28,038.35%. The firm’s quarterly revenue was up 675.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.70) EPS. analysts expect that Intra-Cellular Therapies will post -2.13 EPS for the current fiscal year.

In related news, Chairman Sharon Mates sold 6,604 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $17.48, for a total value of $115,437.92. Following the transaction, the chairman now directly owns 1,088,707 shares of the company’s stock, valued at approximately $19,030,598.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Lawrence J. Hineline sold 3,192 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $15.67, for a total value of $50,018.64. Following the completion of the transaction, the chief financial officer now directly owns 68,686 shares in the company, valued at $1,076,309.62. The disclosure for this sale can be found here. Insiders have sold a total of 49,410 shares of company stock worth $802,481 over the last three months. Insiders own 19.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in ITCI. Perceptive Advisors LLC bought a new position in Intra-Cellular Therapies in the 3rd quarter worth $14,667,000. Wasatch Advisors Inc. raised its holdings in 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 worth $20,611,000 after purchasing an additional 654,400 shares during the period. Alyeska Investment Group L.P. bought a new position in Intra-Cellular Therapies in the 3rd quarter worth $8,663,000. Dimensional Fund Advisors LP raised its holdings in 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 worth $8,038,000 after purchasing an additional 522,565 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in 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 worth $7,213,000 after purchasing an additional 447,586 shares during the period. 74.47% of the stock is currently 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).

Analyst Recommendations for Intra-Cellular Therapies (NASDAQ:ITCI)

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