Intra-Cellular Therapies (NASDAQ:ITCI) Downgraded to “Hold” at 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 on Friday, January 12th.

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 equities analysts also recently commented on ITCI. ValuEngine downgraded shares of Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 27th. SunTrust Banks upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a report on Wednesday, November 8th. BidaskClub downgraded shares of Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 12th. Finally, 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 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $26.00.

Shares of Intra-Cellular Therapies (ITCI) opened at $18.04 on Friday. Intra-Cellular Therapies has a one year low of $7.85 and a one 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 the Zacks’ consensus estimate of ($0.53). The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.06 million. Intra-Cellular Therapies had a negative net margin of 28,038.35% and a negative return on equity of 27.40%. The firm’s revenue for the quarter was up 675.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.70) earnings per share. analysts expect that Intra-Cellular Therapies will post -2.13 earnings per share for the current year.

In related news, Director Richard A. Lerner sold 7,000 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $15.09, for a total value of $105,630.00. Following the completion of the transaction, the director now directly owns 8,621 shares of the company’s stock, valued at approximately $130,090.89. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sharon Mates sold 18,750 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $15.75, for a total value of $295,312.50. Following the completion of the transaction, the chief executive officer now directly owns 1,107,457 shares of the company’s stock, valued at $17,442,447.75. The disclosure for this sale can be found here. Insiders have sold a total of 49,410 shares of company stock worth $802,481 in the last quarter. Insiders own 19.80% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. acquired a new stake in shares of Intra-Cellular Therapies in the 3rd quarter worth $101,000. SG Americas Securities LLC acquired a new stake in shares of Intra-Cellular Therapies in the 2nd quarter worth $103,000. Quantbot Technologies LP increased its stake in shares of Intra-Cellular Therapies by 233.1% in the 3rd 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. Fred Alger Management Inc. acquired a new stake in shares of Intra-Cellular Therapies in the 2nd quarter worth $161,000. Finally, Voya Investment Management LLC increased its position in shares of Intra-Cellular Therapies by 16.0% during the 2nd quarter. Voya Investment Management LLC now owns 16,911 shares of the biopharmaceutical company’s stock worth $210,000 after purchasing an additional 2,338 shares during the last quarter. 74.47% of the stock is owned by institutional investors and hedge funds.

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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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