Intra-Cellular Therapies Inc. (NASDAQ:ITCI)‘s stock had its “outperform” rating restated by stock analysts at RBC Capital Markets in a research note issued on Friday. They currently have a $49.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $74.00. RBC Capital Markets’ target price suggests a potential upside of 216.95% from the stock’s current price.
Other analysts also recently issued research reports about the company. Leerink Swann restated a “buy” rating on shares of Intra-Cellular Therapies in a report on Thursday, June 30th. Cowen and Company restated a “buy” rating on shares of Intra-Cellular Therapies in a report on Wednesday, June 29th. Zacks Investment Research upgraded Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Wednesday, June 29th. JMP Securities downgraded Intra-Cellular Therapies from an “outperform” rating to a “market perform” rating in a report on Thursday, September 29th. Finally, SunTrust Banks Inc. downgraded Intra-Cellular Therapies from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $60.00 to $15.00 in a report on Thursday, September 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $42.00.
Intra-Cellular Therapies (NASDAQ:ITCI) opened at 15.46 on Friday. The stock’s market cap is $668.66 million. The company has a 50-day moving average of $39.53 and a 200 day moving average of $37.26. Intra-Cellular Therapies has a 12-month low of $14.44 and a 12-month high of $59.96.
Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.08. The business earned $0.23 million during the quarter, compared to the consensus estimate of $0.02 million. During the same quarter last year, the firm posted ($0.61) earnings per share. Intra-Cellular Therapies’s revenue was up 283.3% compared to the same quarter last year. Equities analysts anticipate that Intra-Cellular Therapies will post ($3.19) earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors boosted its position in Intra-Cellular Therapies by 2.6% in the first quarter. BlackRock Fund Advisors now owns 970,940 shares of the biopharmaceutical company’s stock valued at $26,992,000 after buying an additional 24,482 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in shares of Intra-Cellular Therapies by 2.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,100,000 shares of the biopharmaceutical company’s stock valued at $30,580,000 after buying an additional 23,538 shares during the last quarter. Royce & Associates LP purchased a new stake in shares of Intra-Cellular Therapies during the second quarter valued at approximately $299,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Intra-Cellular Therapies during the first quarter valued at approximately $1,480,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Intra-Cellular Therapies by 19.1% in the second quarter. Bank of New York Mellon Corp now owns 177,317 shares of the biopharmaceutical company’s stock valued at $6,884,000 after buying an additional 28,467 shares during the last quarter. 70.15% of the stock is currently owned by institutional investors.
About Intra-Cellular Therapies
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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