Intra-Cellular Therapies (ITCI) Downgraded to Sell at BidaskClub

Intra-Cellular Therapies (NASDAQ:ITCI) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Tuesday, BidAskClub reports.

Other equities research analysts have also issued reports about the company. Cantor Fitzgerald restated a “buy” rating and issued a $26.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, April 15th. ValuEngine upgraded Intra-Cellular Therapies from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.00.

ITCI stock opened at $12.36 on Tuesday. The company has a quick ratio of 9.59, a current ratio of 9.59 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $645.97 million, a PE ratio of -4.35 and a beta of 1.39. Intra-Cellular Therapies has a 1 year low of $10.21 and a 1 year high of $23.64.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.27. Equities research analysts predict that Intra-Cellular Therapies will post -3.99 EPS for the current fiscal year.

In related news, Director Christopher D. Alafi purchased 100,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was acquired at an average cost of $12.56 per share, for a total transaction of $1,256,000.00. Following the completion of the transaction, the director now directly owns 750,106 shares of the company’s stock, valued at $9,421,331.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 17.40% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of ITCI. Man Group plc grew its holdings in shares of Intra-Cellular Therapies by 21.6% during the first quarter. Man Group plc now owns 243,003 shares of the biopharmaceutical company’s stock worth $2,960,000 after purchasing an additional 43,200 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Intra-Cellular Therapies by 16.8% during the first quarter. Geode Capital Management LLC now owns 612,614 shares of the biopharmaceutical company’s stock worth $7,461,000 after purchasing an additional 88,153 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Intra-Cellular Therapies by 4.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 267,340 shares of the biopharmaceutical company’s stock worth $3,257,000 after purchasing an additional 12,289 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Intra-Cellular Therapies by 52.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 109,584 shares of the biopharmaceutical company’s stock worth $1,335,000 after purchasing an additional 37,570 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Intra-Cellular Therapies by 3.9% during the first quarter. The Manufacturers Life Insurance Company now owns 28,892 shares of the biopharmaceutical company’s stock worth $352,000 after purchasing an additional 1,082 shares during the last quarter. Institutional investors and hedge funds own 69.34% of the company’s stock.

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.

Further Reading: Outstanding Shares and The Effect on Share Price

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