Intra-Cellular Therapies Inc. (ITCI) Stock Rating Reaffirmed by Piper Jaffray Cos.
Intra-Cellular Therapies Inc. (NASDAQ:ITCI)‘s stock had its “overweight” rating restated by equities research analysts at Piper Jaffray Cos. in a research note issued on Tuesday. They currently have a $57.00 price target on the biopharmaceutical company’s stock. Piper Jaffray Cos.’s price target points to a potential upside of 33.49% from the company’s previous close.
Several other research analysts have also recently issued reports on ITCI. Cowen and Company reissued a “buy” rating on shares of Intra-Cellular Therapies in a research note on Wednesday, June 29th. Leerink Swann reissued a “buy” rating on shares of Intra-Cellular Therapies in a research note on Thursday, June 30th. Finally, Zacks Investment Research raised Intra-Cellular Therapies from a “sell” rating to a “hold” rating in a research note on Tuesday, May 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Intra-Cellular Therapies currently has an average rating of “Buy” and a consensus target price of $70.78.
Intra-Cellular Therapies (NASDAQ:ITCI) traded down 2.47% during mid-day trading on Tuesday, reaching $42.70. The company had a trading volume of 255,620 shares. The stock’s 50-day moving average is $41.30 and its 200 day moving average is $36.31. The firm’s market capitalization is $1.85 billion. Intra-Cellular Therapies has a 12 month low of $22.41 and a 12 month high of $60.79.
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Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.71) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.79) by $0.08. The company had revenue of $0.23 million for the quarter, compared to the consensus estimate of $0.02 million. Intra-Cellular Therapies’s quarterly revenue was up 283.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.61) earnings per share. On average, analysts predict that Intra-Cellular Therapies will post ($3.17) earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in shares of Intra-Cellular Therapies by 423.3% in the first quarter. Renaissance Technologies LLC now owns 233,900 shares of the biopharmaceutical company’s stock valued at $6,502,000 after buying an additional 189,200 shares during the period. Geode Capital Management LLC increased its stake in shares of Intra-Cellular Therapies by 5.8% in the first quarter. Geode Capital Management LLC now owns 204,936 shares of the biopharmaceutical company’s stock valued at $5,697,000 after buying an additional 11,301 shares in the last quarter. Wexford Capital LP bought a new stake in shares of Intra-Cellular Therapies during the first quarter valued at approximately $1,056,000. TimesSquare Capital Management LLC increased its stake in shares of Intra-Cellular Therapies by 15.6% in the first quarter. TimesSquare Capital Management LLC now owns 1,524,375 shares of the biopharmaceutical company’s stock valued at $42,378,000 after buying an additional 205,955 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Intra-Cellular Therapies by 30.7% in the first quarter. JPMorgan Chase & Co. now owns 47,225 shares of the biopharmaceutical company’s stock valued at $1,313,000 after buying an additional 11,097 shares in the last quarter. Institutional investors and hedge funds own 70.15% 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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