Intra-Cellular Therapies (NASDAQ:ITCI) Downgraded by BidaskClub

BidaskClub downgraded shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a sell rating to a strong sell rating in a report published on Tuesday, BidAskClub reports.

Several other equities analysts also recently commented on the stock. Cowen restated a buy rating and issued a $28.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, July 8th. ValuEngine upgraded shares of XCel Brands from a sell rating to a hold rating in a research note on Tuesday. Zacks Investment Research downgraded shares of Hancock Jaffe Laboratories from a buy rating to a hold rating in a research note on Wednesday, June 26th. Finally, Cantor Fitzgerald restated an overweight rating and issued a $29.00 price target (up from $26.00) on shares of Intra-Cellular Therapies in a research note on Thursday, May 23rd. Two analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. Intra-Cellular Therapies presently has an average rating of Buy and a consensus target price of $27.67.

ITCI stock opened at $11.19 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 9.59 and a current ratio of 9.59. The company has a 50-day simple moving average of $12.66. Intra-Cellular Therapies has a 52 week low of $10.09 and a 52 week high of $23.62.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.63) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.90) by $0.27. On average, analysts predict that Intra-Cellular Therapies will post -3.71 EPS for the current year.

In other news, Director Christopher D. Alafi acquired 170,000 shares of Intra-Cellular Therapies stock in a transaction on Wednesday, June 12th. The shares were purchased at an average cost of $11.73 per share, for a total transaction of $1,994,100.00. Following the completion of the purchase, the director now directly owns 750,106 shares of the company’s stock, valued at approximately $8,798,743.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Christopher D. Alafi acquired 100,000 shares of Intra-Cellular Therapies stock in a transaction on Tuesday, May 14th. The shares were purchased at an average price of $12.56 per share, for a total transaction of $1,256,000.00. Following the completion of the purchase, the director now directly owns 750,106 shares of the company’s stock, valued at $9,421,331.36. The disclosure for this purchase can be found here. Corporate insiders own 18.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in ITCI. BNP Paribas Arbitrage SA lifted its holdings in shares of Intra-Cellular Therapies by 883.0% in the first quarter. BNP Paribas Arbitrage SA now owns 10,361 shares of the biopharmaceutical company’s stock worth $126,000 after acquiring an additional 9,307 shares during the last quarter. First Mercantile Trust Co. lifted its holdings in shares of Intra-Cellular Therapies by 12.3% in the first quarter. First Mercantile Trust Co. now owns 11,522 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 1,265 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Intra-Cellular Therapies in the fourth quarter worth about $142,000. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Intra-Cellular Therapies by 354.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 14,016 shares of the biopharmaceutical company’s stock worth $160,000 after acquiring an additional 10,934 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Intra-Cellular Therapies by 9.4% in the fourth quarter. Legal & General Group Plc now owns 16,044 shares of the biopharmaceutical company’s stock worth $183,000 after acquiring an additional 1,374 shares during the last quarter. Hedge funds and other institutional investors own 69.15% of the company’s stock.

Intra-Cellular Therapies Company Profile

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.

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Analyst Recommendations for Intra-Cellular Therapies (NASDAQ:ITCI)

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