Intra-Cellular Therapies (ITCI) Research Coverage Started at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report released on Thursday. The brokerage set an “outperform” rating and a $33.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 101.34% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research raised Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Wednesday, January 3rd. Canaccord Genuity initiated coverage on Intra-Cellular Therapies in a research report on Friday, December 15th. They set a “buy” rating and a $31.00 target price for the company. SunTrust Banks raised Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a research report on Wednesday, November 8th. BidaskClub raised Intra-Cellular Therapies from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 21st. Finally, ValuEngine cut Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. Intra-Cellular Therapies has a consensus rating of “Buy” and an average target price of $26.70.

Shares of Intra-Cellular Therapies (NASDAQ:ITCI) opened at $16.39 on Thursday. The stock has a market capitalization of $889.07, a P/E ratio of -7.45 and a beta of 0.86. 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 announced its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.53). The firm had revenue of $0.03 million during 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 company’s revenue was up 675.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.70) earnings per share. equities analysts predict that Intra-Cellular Therapies will post -2.04 earnings per share for the current fiscal year.

In related news, CFO Lawrence J. Hineline sold 3,192 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael Halstead sold 25,500 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $18.03, for a total value of $459,765.00. Following the completion of the transaction, the senior vice president now owns 191 shares of the company’s stock, valued at $3,443.73. The disclosure for this sale can be found here. Insiders sold 56,160 shares of company stock valued at $966,934 over the last three months. 19.80% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Candriam Luxembourg S.C.A. raised its stake in shares of Intra-Cellular Therapies by 58.2% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 280,000 shares of the biopharmaceutical company’s stock valued at $4,054,000 after purchasing an additional 103,000 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at $212,000. First Mercantile Trust Co. raised its stake in shares of Intra-Cellular Therapies by 77.3% in the fourth quarter. First Mercantile Trust Co. now owns 15,588 shares of the biopharmaceutical company’s stock valued at $226,000 after purchasing an additional 6,797 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at $420,000. Finally, Engineers Gate Manager LP acquired a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at $426,000. Institutional investors and hedge funds own 74.37% of the company’s stock.

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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).

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

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