Intra-Cellular Therapies (ITCI) Cut to “Strong Sell” at ValuEngine

ValuEngine lowered shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a sell rating to a strong sell rating in a research report released on Sunday.

A number of other analysts have also recently commented on ITCI. Zacks Investment Research cut shares of Intra-Cellular Therapies from a buy rating to a hold rating in a report on Tuesday, October 17th. BidaskClub cut shares of Intra-Cellular Therapies from a sell rating to a strong sell rating in a report on Saturday, December 30th. Cowen reaffirmed an outperform rating and set a $27.00 target price (up from $20.00) on shares of Intra-Cellular Therapies in a report on Friday, September 8th. Canaccord Genuity assumed coverage on shares of Intra-Cellular Therapies in a report on Friday, December 15th. They set a buy rating and a $31.00 target price for the company. Finally, SunTrust Banks raised shares of Intra-Cellular Therapies from a hold rating to a buy rating in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Intra-Cellular Therapies presently has an average rating of Buy and an average price target of $25.56.

Shares of Intra-Cellular Therapies (ITCI) traded up $0.31 during trading on Friday, reaching $15.47. 233,500 shares of the company were exchanged, compared to its average volume of 314,400. The company has a market capitalization of $902.17, a P/E ratio of -7.06 and a beta of 0.72. Intra-Cellular Therapies has a 12 month low of $7.85 and a 12 month high of $22.67.

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

In other news, CEO Sharon Mates sold 18,750 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $15.75, for a total value of $295,312.50. Following the completion of the sale, the chief executive officer now directly owns 1,107,457 shares of the company’s stock, valued at $17,442,447.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard A. Lerner sold 7,000 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $15.09, for a total transaction of $105,630.00. Following the completion of the sale, the director now directly owns 8,621 shares of the company’s stock, valued at $130,090.89. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,400 shares of company stock valued at $410,693. Corporate insiders own 19.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in Intra-Cellular Therapies by 336.1% during the second quarter. Goldman Sachs Group Inc. now owns 580,770 shares of the biopharmaceutical company’s stock valued at $7,213,000 after acquiring an additional 447,586 shares in the last quarter. Swiss National Bank grew its stake in Intra-Cellular Therapies by 31.0% during the third quarter. Swiss National Bank now owns 69,800 shares of the biopharmaceutical company’s stock valued at $1,101,000 after acquiring an additional 16,500 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Intra-Cellular Therapies during the third quarter valued at $4,114,000. Fox Run Management L.L.C. purchased a new position in Intra-Cellular Therapies during the third quarter valued at $390,000. Finally, First Midwest Bank Trust Division grew its stake in Intra-Cellular Therapies by 18.2% during the third quarter. First Midwest Bank Trust Division now owns 184,836 shares of the biopharmaceutical company’s stock valued at $2,917,000 after acquiring an additional 28,487 shares in the last quarter. 74.47% of the stock is 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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Analyst Recommendations for Intra-Cellular Therapies (NASDAQ:ITCI)

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