Intra-Cellular Therapies’ (ITCI) “Buy” Rating Reiterated at Cowen and Company
Cowen and Company reissued their buy rating on shares of Intra-Cellular Therapies Inc. (NASDAQ:ITCI) in a research report report published on Wednesday morning. The firm currently has a $20.00 target price on the biopharmaceutical company’s stock.
“This AM, ITCI disclosed FDA had agreed lumateperone preclinical dog tox signals.”,” the firm’s analyst wrote.
Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Intra-Cellular Therapies from a hold rating to a buy rating and set a $12.00 target price for the company in a research note on Tuesday, May 16th. Cantor Fitzgerald set a $29.00 target price on shares of Intra-Cellular Therapies and gave the stock a buy rating in a research note on Thursday, May 11th. Piper Jaffray Companies set a $10.00 target price on shares of Intra-Cellular Therapies and gave the stock a hold rating in a research note on Thursday, August 10th. BidaskClub lowered shares of Intra-Cellular Therapies from a buy rating to a hold rating in a research note on Friday, July 28th. Finally, Leerink Swann lowered shares of Intra-Cellular Therapies from an outperform rating to a market perform rating and reduced their target price for the stock from $29.00 to $10.00 in a research note on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $24.33.
Intra-Cellular Therapies (ITCI) traded down 3.96% during trading on Wednesday, reaching $15.27. The company had a trading volume of 1,128,915 shares. The stock’s market cap is $663.08 million. Intra-Cellular Therapies has a 52-week low of $7.85 and a 52-week high of $45.20. The company has a 50-day moving average price of $11.98 and a 200 day moving average price of $12.46.
Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.41) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.74) by $0.33. Intra-Cellular Therapies had a negative net margin of 32,834.94% and a negative return on equity of 27.92%. The business had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.03 million. During the same quarter in the prior year, the company earned ($0.71) EPS. The firm’s quarterly revenue was down 52.2% on a year-over-year basis. On average, analysts anticipate that Intra-Cellular Therapies will post ($2.43) earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Intra-Cellular Therapies during the second quarter worth approximately $103,000. Bank of America Corp DE increased its position in Intra-Cellular Therapies by 53.4% in the first quarter. Bank of America Corp DE now owns 9,660 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 3,363 shares in the last quarter. Nine Chapters Capital Management LLC acquired a new position in Intra-Cellular Therapies during the first quarter worth approximately $166,000. Fred Alger Management Inc. acquired a new position in Intra-Cellular Therapies during the second quarter worth approximately $161,000. Finally, Voya Investment Management LLC increased its position in Intra-Cellular Therapies by 16.0% in the second quarter. Voya Investment Management LLC now owns 16,911 shares of the biopharmaceutical company’s stock worth $210,000 after buying an additional 2,338 shares in the last quarter. Institutional investors own 66.66% 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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