Intra-Cellular Therapies (NASDAQ:ITCI – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
Several other research analysts have also recently issued reports on ITCI. Cantor Fitzgerald upped their target price on shares of Intra-Cellular Therapies from $90.00 to $98.00 in a report on Friday, August 4th. Royal Bank of Canada upped their price objective on shares of Intra-Cellular Therapies from $78.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Mizuho raised their price objective on Intra-Cellular Therapies from $74.00 to $76.00 in a report on Monday, May 8th. Morgan Stanley reissued an “overweight” rating and issued a $80.00 target price on shares of Intra-Cellular Therapies in a research report on Friday, August 4th. Finally, JPMorgan Chase & Co. lifted their price target on Intra-Cellular Therapies from $58.00 to $62.00 in a research report on Monday, June 5th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.80.
View Our Latest Report on ITCI
Intra-Cellular Therapies Stock Down 1.5 %
Intra-Cellular Therapies (NASDAQ:ITCI – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.17. The company had revenue of $110.80 million during the quarter, compared to the consensus estimate of $106.45 million. Intra-Cellular Therapies had a negative return on equity of 28.63% and a negative net margin of 50.40%. Intra-Cellular Therapies’s revenue for the quarter was up 99.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.92) EPS. As a group, research analysts anticipate that Intra-Cellular Therapies will post -2.08 earnings per share for the current fiscal year.
Insider Activity
In other news, CFO Lawrence J. Hineline sold 81,854 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $63.97, for a total value of $5,236,200.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Lawrence J. Hineline sold 81,854 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $63.97, for a total transaction of $5,236,200.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Neumann sold 55,300 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $58.79, for a total transaction of $3,251,087.00. Following the transaction, the executive vice president now directly owns 45,339 shares of the company’s stock, valued at $2,665,479.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 138,996 shares of company stock valued at $8,607,017. Insiders own 3.40% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new position in Intra-Cellular Therapies in the fourth quarter valued at about $31,000. Huntington National Bank increased its holdings in Intra-Cellular Therapies by 48.5% in the second quarter. Huntington National Bank now owns 664 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 217 shares in the last quarter. Allworth Financial LP increased its holdings in Intra-Cellular Therapies by 104.0% in the second quarter. Allworth Financial LP now owns 667 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 340 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Intra-Cellular Therapies in the second quarter valued at about $46,000. Finally, State of Wyoming increased its holdings in Intra-Cellular Therapies by 57.9% in the second quarter. State of Wyoming now owns 851 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 312 shares in the last quarter. 85.70% of the stock is owned by hedge funds and other institutional investors.
Intra-Cellular Therapies Company Profile
Intra-Cellular Therapies, Inc, a biopharmaceutical company, focuses on the discovery, clinical development, and commercialization of small molecule drugs that address medical needs primarily in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms in the central nervous system (CNS) in the United States.
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