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

ValuEngine downgraded shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a hold rating to a sell rating in a research report released on Tuesday morning, ValuEngine reports.

ITCI has been the topic of a number of other research reports. Cantor Fitzgerald restated an overweight rating and set a $29.00 price objective (up previously from $26.00) on shares of Intra-Cellular Therapies in a research note on Thursday, May 23rd. BidaskClub upgraded Zynerba Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, June 20th. Cowen restated a buy rating and set a $28.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, July 8th. Finally, Zacks Investment Research lowered Hancock Jaffe Laboratories from a buy rating to a hold rating in a research note on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $27.67.

Intra-Cellular Therapies stock opened at $11.19 on Tuesday. The business’s fifty day moving average is $12.66. Intra-Cellular Therapies has a one year low of $10.09 and a one year high of $23.62. 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 market cap of $616.96 million, a price-to-earnings ratio of -3.94 and a beta of 1.24.



Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.63) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.90) by $0.27. On average, equities analysts expect that Intra-Cellular Therapies will post -3.71 earnings per share for the current year.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ITCI. Samlyn Capital LLC boosted its holdings in shares of Intra-Cellular Therapies by 64.2% during the 4th quarter. Samlyn Capital LLC now owns 1,266,138 shares of the biopharmaceutical company’s stock valued at $14,421,000 after acquiring an additional 494,918 shares in the last quarter. Wasatch Advisors Inc. boosted its holdings in shares of Intra-Cellular Therapies by 19.0% during the 1st quarter. Wasatch Advisors Inc. now owns 2,361,619 shares of the biopharmaceutical company’s stock valued at $28,765,000 after acquiring an additional 377,561 shares in the last quarter. Norges Bank acquired a new stake in shares of Intra-Cellular Therapies during the 4th quarter valued at $3,759,000. General American Investors Co. Inc. acquired a new stake in shares of Intra-Cellular Therapies during the 4th quarter valued at $3,416,000. Finally, Rhenman & Partners Asset Management AB boosted its holdings in shares of Intra-Cellular Therapies by 43.9% during the 1st quarter. Rhenman & Partners Asset Management AB now owns 949,833 shares of the biopharmaceutical company’s stock valued at $11,569,000 after acquiring an additional 289,851 shares in the last quarter. 69.15% of the stock is currently owned by 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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