Piper Jaffray Cos. reissued their overweight rating on shares of Intra-Cellular Therapies Inc. (NASDAQ:ITCI) in a report released on Friday. Piper Jaffray Cos. currently has a $22.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $57.00.
Other research analysts have also recently issued reports about the company. Leerink Swann reissued a buy rating on shares of Intra-Cellular Therapies in a research note on Thursday, June 30th. Cowen and Company reissued a buy rating on shares of Intra-Cellular Therapies in a research note on Wednesday, June 29th. Zacks Investment Research raised Intra-Cellular Therapies from a hold rating to a buy rating and set a $42.00 target price for the company in a research note on Wednesday, June 29th. JMP Securities cut Intra-Cellular Therapies from an outperform rating to a market perform rating in a research note on Thursday, September 29th. Finally, SunTrust Banks Inc. cut Intra-Cellular Therapies from a buy rating to a neutral rating and decreased their target price for the company from $60.00 to $15.00 in a research note on Thursday, September 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $42.00.
Intra-Cellular Therapies (NASDAQ:ITCI) opened at 14.65 on Friday. The company has a 50 day moving average price of $38.78 and a 200-day moving average price of $37.20. Intra-Cellular Therapies has a 52 week low of $14.44 and a 52 week high of $59.96. The company’s market capitalization is $633.63 million.
Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.08. The business earned $0.23 million during the quarter, compared to analyst estimates of $0.02 million. During the same period in the previous year, the firm posted ($0.61) earnings per share. The firm’s revenue was up 283.3% on a year-over-year basis. On average, equities analysts anticipate that Intra-Cellular Therapies will post ($3.19) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Fund Advisors boosted its position 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 valued at $26,992,000 after buying an additional 24,482 shares during the period. Adage Capital Partners GP L.L.C. boosted its position 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 valued at $30,580,000 after buying an additional 23,538 shares during the period. Royce & Associates LP bought a new position in shares of Intra-Cellular Therapies during the second quarter valued at approximately $299,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Intra-Cellular Therapies during the first quarter valued at approximately $1,480,000. Finally, Bank of New York Mellon Corp boosted its position 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 valued at $6,884,000 after buying an additional 28,467 shares during the period. 70.15% of the stock is owned by hedge funds and other institutional investors.
About Intra-Cellular Therapies
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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