Intra-Cellular Therapies (ITCI) Earns Buy Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their buy rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research note issued to investors on Wednesday morning, AnalystRatings.com reports. Cantor Fitzgerald currently has a $26.00 price target on the biopharmaceutical company’s stock.

“. We reiterate our Overweight rating and $26 price target on ITCI shares. Intra-Cellular reported 1Q19 financial performance, ending the period with cash of $312.8M. Our model projects sufficient funding into 2H20 and through several clinical and regulatory milestones including NDA acceptance/approval of lumateperone for schizophrenia and P3 data in bipolar depression (Studies 401 & 404) that are expected later this quarter. We also look forward to luma’s potential approval in 3Q19, the establishment of the company’s commercial team and its market launch as a differentiated, broadly active neuropsych product.”,” Cantor Fitzgerald’s analyst wrote.

ITCI has been the subject of several other reports. ValuEngine cut Intra-Cellular Therapies from a hold rating to a sell rating in a research note on Thursday, January 24th. BidaskClub cut Intra-Cellular Therapies from a hold rating to a sell rating in a research note on Wednesday, March 6th. Finally, Zacks Investment Research cut Intra-Cellular Therapies from a hold rating to a sell rating in a research note on Thursday, January 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $27.00.

Shares of NASDAQ ITCI traded down $0.35 during midday trading on Wednesday, hitting $12.81. The stock had a trading volume of 307,883 shares, compared to its average volume of 288,547. The stock has a market capitalization of $725.34 million, a P/E ratio of -4.51 and a beta of 1.39. Intra-Cellular Therapies has a fifty-two week low of $10.21 and a fifty-two week high of $23.64. The company has a debt-to-equity ratio of 0.07, a quick ratio of 9.79 and a current ratio of 9.59.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.63) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.90) by $0.27. Equities research analysts forecast that Intra-Cellular Therapies will post -4.06 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ITCI. BNP Paribas Arbitrage SA grew its stake in shares of Intra-Cellular Therapies by 883.0% during the first quarter. BNP Paribas Arbitrage SA now owns 10,361 shares of the biopharmaceutical company’s stock worth $126,000 after purchasing an additional 9,307 shares during the period. First Mercantile Trust Co. grew its stake in shares of Intra-Cellular Therapies by 12.3% during the first quarter. First Mercantile Trust Co. now owns 11,522 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 1,265 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth $142,000. Metropolitan Life Insurance Co. NY grew its stake in shares of Intra-Cellular Therapies by 354.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 14,016 shares of the biopharmaceutical company’s stock worth $160,000 after purchasing an additional 10,934 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Intra-Cellular Therapies by 9.4% during the fourth quarter. Legal & General Group Plc now owns 16,044 shares of the biopharmaceutical company’s stock worth $183,000 after purchasing an additional 1,374 shares during the period. 69.20% of the stock is owned by institutional investors.

About Intra-Cellular Therapies

Intra-Cellular Therapies, Inc, a biopharmaceutical company, engages in developing novel drugs for the treatment of neuropsychiatric and neurodegenerative disorders. The company is developing its lead drug candidate, lumateperone for the treatment of schizophrenia, bipolar disorder, behavioral disturbances associated with dementia, autism, and other CNS diseases.

Featured Article: Cost of Equity For A Business, Investors

Receive News & Ratings for Intra-Cellular Therapies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intra-Cellular Therapies and related companies with MarketBeat.com's FREE daily email newsletter.