Intra-Cellular Therapies Inc. (NASDAQ:ITCI)’s share price hit a new 52-week low during trading on Thursday after JMP Securities downgraded the stock from an outperform rating to a market perform rating. The company traded as low as $14.88 and last traded at $15.30, with a volume of 13,260,289 shares traded. The stock had previously closed at $42.35.
A number of other equities analysts have also recently commented on the stock. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $57.00 target price on shares of Intra-Cellular Therapies in a research report on Tuesday, September 13th. Royal Bank Of Canada decreased their target price on shares of Intra-Cellular Therapies from $74.00 to $49.00 and set an “outperform” rating on the stock in a research report on Thursday. Cowen and Company reiterated a “buy” rating and issued a $75.00 target price on shares of Intra-Cellular Therapies in a research report on Friday, August 5th. Leerink Swann reiterated a “buy” rating on shares of Intra-Cellular Therapies in a research report on Thursday, June 30th. Finally, SunTrust Banks Inc. cut shares of Intra-Cellular Therapies from a “buy” rating to a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Intra-Cellular Therapies currently has a consensus rating of “Hold” and a consensus price target of $61.86.
Several large investors have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its stake in shares of 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 last quarter. Adage Capital Partners GP L.L.C. raised its stake 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 during the last quarter. Royce & Associates LP bought a new stake in shares of Intra-Cellular Therapies during the second quarter worth $299,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Intra-Cellular Therapies during the first quarter worth $1,480,000. Finally, Bank of New York Mellon Corp raised its stake 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 during the last quarter. 70.15% of the stock is currently owned by hedge funds and other institutional investors.
The company’s market cap is $666.93 million. The firm’s 50 day moving average price is $40.97 and its 200 day moving average price is $37.25.
Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.71) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.79) by $0.08. The company 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 previous year, the company posted ($0.61) earnings per share. On average, equities research analysts forecast that Intra-Cellular Therapies Inc. will post ($3.16) earnings per share for the current fiscal year.
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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