Intra-Cellular Therapies Inc. (ITCI) Earns “Outperform” Rating from Cowen and Company

Cowen and Company reiterated their outperform rating on shares of Intra-Cellular Therapies Inc. (NASDAQ:ITCI) in a research report released on Friday. Cowen and Company currently has a $27.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $20.00.

A number of other equities research analysts also recently weighed in on the company. Piper Jaffray Companies upgraded Intra-Cellular Therapies from a neutral rating to an overweight rating and upped their target price for the stock from $14.00 to $33.00 in a research report on Thursday. JMP Securities upgraded Intra-Cellular Therapies from a market perform rating to an outperform rating and set a $24.00 target price for the company in a research report on Thursday, August 24th. Leerink Swann upgraded Intra-Cellular Therapies from a market perform rating to an outperform rating in a research report on Wednesday, August 23rd. ValuEngine upgraded Intra-Cellular Therapies from a strong sell rating to a sell rating in a research report on Friday, August 18th. Finally, Zacks Investment Research upgraded Intra-Cellular Therapies from a hold rating to a buy rating and set a $12.00 target price for the company in a research report on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Intra-Cellular Therapies currently has an average rating of Buy and a consensus price target of $27.11.

Intra-Cellular Therapies (NASDAQ ITCI) opened at 21.39 on Friday. The stock’s market capitalization is $928.84 million. The company has a 50-day moving average price of $13.66 and a 200 day moving average price of $12.79. Intra-Cellular Therapies has a 1-year low of $7.85 and a 1-year high of $45.20.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.33. The firm had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.03 million. Intra-Cellular Therapies had a negative return on equity of 27.92% and a negative net margin of 32,834.94%. The firm’s revenue for the quarter was down 52.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.71) earnings per share. On average, equities analysts predict that Intra-Cellular Therapies will post ($2.36) EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This story was published by Markets Daily and is the sole property of of Markets Daily. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright law. The legal version of this story can be read at https://www.themarketsdaily.com/2017/09/11/intra-cellular-therapies-inc-itci-earns-outperform-rating-from-cowen-and-company.html.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Trexquant Investment LP bought a new position in shares of Intra-Cellular Therapies in the first quarter valued at $384,000. BB Biotech AG increased its holdings in shares of Intra-Cellular Therapies by 22.2% in the first quarter. BB Biotech AG now owns 1,925,000 shares of the biopharmaceutical company’s stock valued at $31,281,000 after buying an additional 350,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Intra-Cellular Therapies by 7.3% in the first quarter. Vanguard Group Inc. now owns 2,741,887 shares of the biopharmaceutical company’s stock valued at $44,556,000 after buying an additional 186,165 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Intra-Cellular Therapies by 5.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 137,975 shares of the biopharmaceutical company’s stock valued at $2,243,000 after buying an additional 7,335 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Intra-Cellular Therapies by 59.9% in the first quarter. Goldman Sachs Group Inc. now owns 133,184 shares of the biopharmaceutical company’s stock valued at $2,164,000 after buying an additional 49,884 shares in the last quarter. 71.79% of the stock is currently owned by institutional investors.

About Intra-Cellular Therapies

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).

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

Receive News & Ratings for Intra-Cellular Therapies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intra-Cellular Therapies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply