Zacks Investment Research lowered shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a buy rating to a hold rating in a research report released on Friday morning.

According to Zacks, “Intra-Cellular Therapies Inc. is a biopharmaceutical company. The company develops drugs for the treatment of neuropsychiatric and neurologic diseases and other disorders of the central nervous system. Its product candidates include ITI-007, ITI-002 and ITI-009 which is in clinical trials. Intra-Cellular Therapies Inc. is headquartered in New York. “

Several other equities research analysts also recently weighed in on ITCI. ValuEngine downgraded shares of Intra-Cellular Therapies from a sell rating to a strong sell rating in a research note on Wednesday, September 27th. SunTrust Banks raised shares of Intra-Cellular Therapies from a hold rating to a buy rating in a research note on Wednesday, November 8th. BidaskClub downgraded shares of Intra-Cellular Therapies from a sell rating to a strong sell rating in a research note on Tuesday, December 12th. Finally, Canaccord Genuity started coverage on shares of Intra-Cellular Therapies in a research note on Friday, December 15th. They set a buy rating and a $31.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. Intra-Cellular Therapies presently has an average rating of Buy and an average price target of $26.11.

Shares of Intra-Cellular Therapies (NASDAQ:ITCI) traded up $0.47 during mid-day trading on Friday, hitting $18.87. 435,257 shares of the stock traded hands, compared to its average volume of 489,324. Intra-Cellular Therapies has a 52-week low of $7.85 and a 52-week high of $22.67. The firm has a market cap of $1,030.00, a price-to-earnings ratio of -8.62 and a beta of 0.72.

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

In other Intra-Cellular Therapies news, CFO Lawrence J. Hineline sold 3,192 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $15.67, for a total value of $50,018.64. Following the sale, the chief financial officer now directly owns 68,686 shares of the company’s stock, valued at approximately $1,076,309.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Sharon Mates sold 6,604 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $17.48, for a total transaction of $115,437.92. Following the completion of the sale, the chairman now directly owns 1,088,707 shares in the company, valued at $19,030,598.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,410 shares of company stock worth $802,481. Insiders own 19.80% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Rhumbline Advisers increased its position in shares of Intra-Cellular Therapies by 3.5% in the 2nd quarter. Rhumbline Advisers now owns 43,296 shares of the biopharmaceutical company’s stock valued at $538,000 after purchasing an additional 1,455 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Intra-Cellular Therapies by 8.1% in the 2nd quarter. Nationwide Fund Advisors now owns 27,928 shares of the biopharmaceutical company’s stock valued at $347,000 after purchasing an additional 2,099 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Intra-Cellular Therapies by 16.0% in the 2nd quarter. Voya Investment Management LLC now owns 16,911 shares of the biopharmaceutical company’s stock valued at $210,000 after purchasing an additional 2,338 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Intra-Cellular Therapies by 45.9% in the 3rd quarter. SG Americas Securities LLC now owns 12,060 shares of the biopharmaceutical company’s stock valued at $190,000 after purchasing an additional 3,794 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Intra-Cellular Therapies by 7.3% in the 2nd quarter. Teachers Advisors LLC now owns 62,615 shares of the biopharmaceutical company’s stock valued at $778,000 after purchasing an additional 4,238 shares during the last quarter. 74.47% of the stock is currently owned by institutional investors.

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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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