Intra-Cellular Therapies Inc. (ITCI) PT Set at $10.00 by Piper Jaffray Companies
Intra-Cellular Therapies Inc. (NASDAQ:ITCI) has been assigned a $10.00 price objective by investment analysts at Piper Jaffray Companies in a report released on Thursday. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. Piper Jaffray Companies’ price target would suggest a potential downside of 12.43% from the stock’s previous close.
Several other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Intra-Cellular Therapies from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Cantor Fitzgerald set a $29.00 target price on shares of Intra-Cellular Therapies and gave the stock a “buy” rating in a report on Thursday, May 11th. Ladenburg Thalmann Financial Services downgraded shares of Intra-Cellular Therapies from a “buy” rating to a “neutral” rating in a report on Tuesday, May 2nd. ValuEngine downgraded shares of Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Finally, Leerink Swann downgraded shares of Intra-Cellular Therapies from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $29.00 to $10.00 in a report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $24.14.
Intra-Cellular Therapies (ITCI) traded up 0.18% during trading on Thursday, hitting $11.44. The stock had a trading volume of 18,563 shares. The company’s market cap is $496.72 million. Intra-Cellular Therapies has a 52-week low of $7.85 and a 52-week high of $45.20. The company has a 50-day moving average price of $12.00 and a 200-day moving average price of $12.58.
Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.37. The company had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.03 million. Intra-Cellular Therapies had a negative net margin of 27,180.94% and a negative return on equity of 29.74%. Intra-Cellular Therapies’s quarterly revenue was down 52.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.71) EPS. Equities research analysts forecast that Intra-Cellular Therapies will post ($2.68) EPS for the current year.
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A number of hedge funds have recently made changes to their positions in ITCI. SG Americas Securities LLC bought a new stake in shares of Intra-Cellular Therapies during the second quarter valued at approximately $103,000. Bank of America Corp DE boosted its stake in shares of Intra-Cellular Therapies by 53.4% in the first quarter. Bank of America Corp DE now owns 9,660 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 3,363 shares during the last quarter. Nine Chapters Capital Management LLC bought a new stake in shares of Intra-Cellular Therapies during the first quarter valued at approximately $166,000. Highbridge Capital Management LLC bought a new stake in shares of Intra-Cellular Therapies during the fourth quarter valued at approximately $166,000. Finally, Driehaus Capital Management LLC bought a new stake in shares of Intra-Cellular Therapies during the first quarter valued at approximately $292,000. Institutional investors and hedge funds own 66.60% of the company’s stock.
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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