BidaskClub Upgrades Intra-Cellular Therapies (NASDAQ:ITCI) to Sell

Intra-Cellular Therapies (NASDAQ:ITCI) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday, BidAskClub reports.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada set a $26.00 target price on shares of Intra-Cellular Therapies and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research cut shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. Cowen reiterated a “buy” rating and set a $28.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, July 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $29.00 target price (up previously from $26.00) on shares of Intra-Cellular Therapies in a research report on Thursday, May 23rd. Finally, ValuEngine upgraded shares of Intra-Cellular Therapies from a “buy” rating to a “strong-buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $23.88.

Shares of Intra-Cellular Therapies stock opened at $9.10 on Friday. The stock has a market capitalization of $498.21 million, a P/E ratio of -3.20 and a beta of 1.18. The company has a quick ratio of 8.86, a current ratio of 8.86 and a debt-to-equity ratio of 0.08. The company has a 50-day simple moving average of $10.51 and a 200 day simple moving average of $12.30. Intra-Cellular Therapies has a 12-month low of $7.41 and a 12-month high of $23.62.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.15. On average, equities analysts anticipate that Intra-Cellular Therapies will post -3.39 earnings per share for the current year.

In other news, Director Christopher D. Alafi bought 170,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was acquired at an average price of $11.73 per share, for a total transaction of $1,994,100.00. Following the transaction, 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 Securities & Exchange Commission, which is available at this link. Company insiders own 18.20% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Nuveen Asset Management LLC bought a new stake in Intra-Cellular Therapies during the 2nd quarter worth about $8,024,000. UBS Asset Management Americas Inc. grew its holdings in Intra-Cellular Therapies by 3.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 31,464 shares of the biopharmaceutical company’s stock worth $408,000 after acquiring an additional 1,144 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in Intra-Cellular Therapies by 13.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 354,888 shares of the biopharmaceutical company’s stock worth $4,607,000 after acquiring an additional 42,630 shares during the last quarter. Morgan Stanley grew its holdings in Intra-Cellular Therapies by 0.9% during the 2nd quarter. Morgan Stanley now owns 461,669 shares of the biopharmaceutical company’s stock worth $5,993,000 after acquiring an additional 4,341 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Intra-Cellular Therapies by 6.5% during the 2nd quarter. Invesco Ltd. now owns 33,761 shares of the biopharmaceutical company’s stock worth $438,000 after acquiring an additional 2,060 shares during the last quarter. 69.45% of the stock is currently owned by hedge funds and other institutional investors.

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.

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

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