Leerink Swann reissued their outperform rating on shares of Intra-Cellular Therapies Inc. (NASDAQ:ITCI) in a research note issued to investors on Friday. Leerink Swann currently has a $29.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $95.00.
A number of other equities research analysts have also recently issued reports on ITCI. Piper Jaffray Cos. reiterated an overweight rating and issued a $57.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, June 22nd. Zacks Investment Research upgraded shares of Intra-Cellular Therapies from a hold rating to a buy rating and set a $42.00 price objective for the company in a report on Wednesday, June 29th. Cowen and Company reiterated a buy rating on shares of Intra-Cellular Therapies in a report on Wednesday, June 29th. SunTrust Banks Inc. cut shares of Intra-Cellular Therapies from a buy rating to a neutral rating and decreased their price objective for the stock from $60.00 to $15.00 in a report on Thursday. Finally, Royal Bank Of Canada decreased their price objective on shares of Intra-Cellular Therapies from $74.00 to $49.00 and set an outperform rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $42.00.
Shares of Intra-Cellular Therapies (NASDAQ:ITCI) traded up 2.43% on Friday, reaching $15.61. The company had a trading volume of 743,495 shares. Intra-Cellular Therapies has a 52-week low of $14.44 and a 52-week high of $59.96. The stock’s market capitalization is $675.15 million. The company has a 50 day moving average price of $40.24 and a 200 day moving average price of $37.16.
Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping the Zacks’ 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. The company’s revenue for the quarter was up 283.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.61) earnings per share. On average, equities research analysts anticipate that Intra-Cellular Therapies will post ($3.19) earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors boosted its stake 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 worth $26,992,000 after buying an additional 24,482 shares during the period. Adage Capital Partners GP L.L.C. raised its position 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 worth $30,580,000 after buying an additional 23,538 shares in the last quarter. Royce & Associates LP bought a new position in shares of Intra-Cellular Therapies during the second quarter worth approximately $299,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Intra-Cellular Therapies during the first quarter worth approximately $1,480,000. Finally, Bank of New York Mellon Corp raised its position 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 worth $6,884,000 after buying an additional 28,467 shares in the last quarter. Institutional investors own 70.15% of the company’s stock.
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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