Intra-Cellular Therapies Inc. (ITCI) PT Set at $22.00 by Piper Jaffray Cos.
Intra-Cellular Therapies Inc. (NASDAQ:ITCI) has been given a $22.00 target price by investment analysts at Piper Jaffray Cos. in a report released on Monday. The brokerage presently has a a “buy” rating on the biopharmaceutical company’s stock. Piper Jaffray Cos.’s price target points to a potential upside of 45.79% from the stock’s current price.
ITCI has been the topic of several other reports. SunTrust Banks Inc. lowered Intra-Cellular Therapies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $60.00 to $15.00 in a research report on Thursday, September 29th. Cowen and Company reiterated a “buy” rating and set a $75.00 price target on shares of Intra-Cellular Therapies in a research note on Friday, August 5th. JMP Securities downgraded Intra-Cellular Therapies from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 29th. Zacks Investment Research downgraded Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $49.00 price target (down previously from $74.00) on shares of Intra-Cellular Therapies in a research note on Friday, September 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $42.00.
Shares of Intra-Cellular Therapies (NASDAQ:ITCI) traded down 4.71% during midday trading on Monday, hitting $14.38. The stock had a trading volume of 577,949 shares. The firm has a 50-day moving average of $35.84 and a 200 day moving average of $36.87. The firm’s market cap is $621.95 million. Intra-Cellular Therapies has a 12-month low of $14.25 and a 12-month high of $59.96.
Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.08. The firm earned $0.23 million during the quarter, compared to analyst estimates of $0.02 million. During the same period in the previous year, the company earned ($0.61) earnings per share. The business’s revenue for the quarter was up 283.3% on a year-over-year basis. On average, analysts expect that Intra-Cellular Therapies will post ($3.19) earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in ITCI. BlackRock Fund Advisors increased its stake in shares of Intra-Cellular Therapies by 2.6% in the first quarter. BlackRock Fund Advisors now owns 970,940 shares of the biopharmaceutical company’s stock valued at $26,992,000 after buying an additional 24,482 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Intra-Cellular Therapies by 2.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,100,000 shares of the biopharmaceutical company’s stock worth $30,580,000 after buying an additional 23,538 shares in the last quarter. Royce & Associates LP purchased a new stake in shares of Intra-Cellular Therapies during the second quarter worth approximately $299,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Intra-Cellular Therapies during the first quarter worth approximately $1,480,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Intra-Cellular Therapies by 19.1% in the second quarter. Bank of New York Mellon Corp now owns 177,317 shares of the biopharmaceutical company’s stock worth $6,884,000 after buying an additional 28,467 shares in the last quarter. Hedge funds and other institutional investors 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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