Intra-Cellular Therapies (ITCI) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a hold rating to a buy rating in a research note released on Saturday morning. They currently have $21.00 price objective on the biopharmaceutical company’s stock.

According to Zacks, “Intra-Cellular Therapies Inc. is a biopharmaceutical company. The company develops drugs for the treatment of neuropsychiatric and neurologic diseases and other disorders of the central nervous system. Its product candidates include ITI-007, ITI-002 and ITI-009 which is in clinical trials. Intra-Cellular Therapies Inc. is headquartered in New York. “

A number of other equities research analysts also recently issued reports on ITCI. BidaskClub upgraded shares of Intra-Cellular Therapies from a strong sell rating to a sell rating in a report on Friday, January 5th. ValuEngine downgraded shares of Intra-Cellular Therapies from a sell rating to a strong sell rating in a report on Wednesday, September 27th. Canaccord Genuity assumed coverage on shares of Intra-Cellular Therapies in a report on Friday, December 15th. They issued a buy rating and a $31.00 target price for the company. Finally, SunTrust Banks upgraded shares of Intra-Cellular Therapies from a hold rating to a buy rating in a report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $26.11.

Intra-Cellular Therapies (NASDAQ ITCI) traded up $0.47 during trading on Friday, reaching $18.87. 435,257 shares of the company were exchanged, compared to its average volume of 503,297. Intra-Cellular Therapies has a 52-week low of $7.85 and a 52-week high of $22.67.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.53). Intra-Cellular Therapies had a negative net margin of 28,038.35% and a negative return on equity of 27.40%. The firm had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.06 million. During the same period in the previous year, the firm earned ($0.70) earnings per share. Intra-Cellular Therapies’s revenue was up 675.0% compared to the same quarter last year. equities analysts anticipate that Intra-Cellular Therapies will post -2.13 EPS for the current year.

In other Intra-Cellular Therapies news, Director Richard A. Lerner sold 7,000 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $15.09, for a total transaction of $105,630.00. Following the transaction, the director now directly owns 8,621 shares of the company’s stock, valued at $130,090.89. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sharon Mates sold 18,750 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $15.75, for a total transaction of $295,312.50. Following the transaction, the chief executive officer now directly owns 1,107,457 shares in the company, valued at $17,442,447.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,410 shares of company stock worth $802,481. 19.80% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Franklin Street Advisors Inc. NC lifted its position in Intra-Cellular Therapies by 236.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 54,060 shares of the biopharmaceutical company’s stock valued at $783,000 after buying an additional 38,000 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Intra-Cellular Therapies by 80.8% during the third quarter. Public Employees Retirement System of Ohio now owns 69,191 shares of the biopharmaceutical company’s stock valued at $1,092,000 after buying an additional 30,915 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Intra-Cellular Therapies during the third quarter valued at approximately $4,114,000. Perceptive Advisors LLC acquired a new position in Intra-Cellular Therapies during the third quarter valued at approximately $14,667,000. Finally, Premier Asset Management LLC acquired a new position in Intra-Cellular Therapies during the third quarter valued at approximately $291,000. 74.47% of the stock is currently owned by hedge funds and other institutional investors.

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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).

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