Intra-Cellular Therapies (NASDAQ:ITCI) had its price objective decreased by Royal Bank of Canada from $43.00 to $36.00 in a research note issued to investors on Monday, The Fly reports. Royal Bank of Canada currently has an outperform rating on the biopharmaceutical company’s stock.
A number of other research analysts also recently weighed in on the company. BidaskClub raised Intra-Cellular Therapies from a strong sell rating to a sell rating in a research note on Wednesday, September 9th. Zacks Investment Research upgraded Intra-Cellular Therapies from a hold rating to a buy rating and set a $29.00 target price on the stock in a report on Wednesday, October 21st. Canaccord Genuity reissued a buy rating on shares of Intra-Cellular Therapies in a research report on Monday, October 5th. ValuEngine upgraded shares of Intra-Cellular Therapies from a hold rating to a buy rating in a report on Tuesday, September 1st. Finally, BTIG Research decreased their target price on shares of Intra-Cellular Therapies from $80.00 to $40.00 and set a buy rating for the company in a research report on Monday. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $43.14.
Intra-Cellular Therapies stock opened at $23.88 on Monday. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -7.80 and a beta of 1.65. Intra-Cellular Therapies has a 52-week low of $8.51 and a 52-week high of $43.56. The stock’s 50 day moving average price is $26.68 and its two-hundred day moving average price is $22.53.
Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Monday, August 10th. The biopharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.94) by ($0.02). The company had revenue of $1.91 million for the quarter, compared to analyst estimates of $3.05 million. Sell-side analysts expect that Intra-Cellular Therapies will post -3.55 earnings per share for the current fiscal year.
In other news, Director Christopher D. Alafi bought 49,500 shares of the company’s stock in a transaction on Monday, September 14th. The shares were purchased at an average price of $29.60 per share, with a total value of $1,465,200.00. Following the transaction, the director now directly owns 345,223 shares in the company, valued at $10,218,600.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Lawrence J. Hineline sold 41,983 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $31.14, for a total value of $1,307,350.62. Following the completion of the transaction, the chief financial officer now directly owns 50,017 shares of the company’s stock, valued at $1,557,529.38. The disclosure for this sale can be found here. 18.20% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of ITCI. Advisor Group Holdings Inc. bought a new position in Intra-Cellular Therapies in the 1st quarter valued at $33,000. Meeder Asset Management Inc. purchased a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth about $41,000. Parallel Advisors LLC bought a new position in Intra-Cellular Therapies during the third quarter valued at about $64,000. Strs Ohio purchased a new stake in Intra-Cellular Therapies during the second quarter worth about $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Intra-Cellular Therapies by 33.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,310 shares of the biopharmaceutical company’s stock worth $162,000 after acquiring an additional 1,597 shares during the period. 71.91% of the stock is currently owned by institutional investors and hedge funds.
Intra-Cellular Therapies Company Profile
Intra-Cellular Therapies, Inc, a biopharmaceutical company, develops novel drugs for the treatment of neuropsychiatric and neurologic diseases, and other disorders of the central nervous system (CNS) in the United States. The company is developing its lead drug candidate, CAPLYTA for the treatment of schizophrenia, bipolar disorder, behavioral disturbances associated with dementia, autism, and other CNS diseases.
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