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.
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 research analysts have also issued reports on the company. BidaskClub upgraded Intra-Cellular Therapies from a “strong sell” rating to a “sell” rating in a research note on Friday, January 5th. ValuEngine lowered Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Canaccord Genuity began coverage on Intra-Cellular Therapies in a research note on Friday, December 15th. They issued a “buy” rating and a $31.00 price target for the company. Finally, SunTrust Banks upgraded Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a research note on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $26.11.
Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.53). Intra-Cellular Therapies had a negative return on equity of 27.40% and a negative net margin of 28,038.35%. The business had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.06 million. During the same quarter in the prior year, the business posted ($0.70) EPS. Intra-Cellular Therapies’s revenue for the quarter was up 675.0% compared to the same quarter last year. equities analysts anticipate that Intra-Cellular Therapies will post -2.13 EPS for the current fiscal year.
In other news, Director Christopher D. Alafi acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was purchased at an average price of $15.55 per share, for a total transaction of $155,500.00. Following the completion of the transaction, the director now directly owns 744,466 shares in the company, valued at approximately $11,576,446.30. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sharon Mates sold 18,750 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $15.75, for a total value of $295,312.50. Following the transaction, the chief executive officer now 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. In the last 90 days, insiders have sold 49,410 shares of company stock valued at $802,481. Company insiders own 19.80% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of Intra-Cellular Therapies during the third quarter valued at about $101,000. SG Americas Securities LLC purchased a new position in shares of Intra-Cellular Therapies during the second quarter valued at about $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 valued at $135,000 after purchasing an additional 6,028 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 about $161,000. Finally, Voya Investment Management LLC grew its position 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 purchasing an additional 2,338 shares in the last quarter. Hedge funds and other institutional investors own 74.47% 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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