SunTrust Banks, Inc. Reaffirms Hold Rating for Intra-Cellular Therapies Inc. (ITCI)

SunTrust Banks, Inc. reaffirmed their hold rating on shares of Intra-Cellular Therapies Inc. (NASDAQ:ITCI) in a report published on Friday, September 8th. The firm currently has a $22.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $16.00. SunTrust Banks also issued estimates for Intra-Cellular Therapies’ FY2018 earnings at ($2.52) EPS.

Several other analysts have also recently commented on the stock. Piper Jaffray Companies set a $10.00 target price on shares of Intra-Cellular Therapies and gave the stock a hold rating in a research note on Thursday, August 10th. Cantor Fitzgerald reaffirmed a buy rating on shares of Intra-Cellular Therapies in a research note on Wednesday, August 9th. BidaskClub cut shares of Intra-Cellular Therapies from a hold rating to a sell rating in a research note on Saturday, August 5th. ValuEngine raised shares of Intra-Cellular Therapies from a strong sell rating to a sell rating in a research note on Friday, August 18th. Finally, Zacks Investment Research raised shares of Intra-Cellular Therapies from a hold rating to a buy rating and set a $12.00 price objective for the company in a research note on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $27.11.

Intra-Cellular Therapies (ITCI) traded up 1.23% during mid-day trading on Friday, hitting $19.74. The stock had a trading volume of 983,112 shares. The company has a 50 day moving average price of $14.80 and a 200-day moving average price of $13.05. Intra-Cellular Therapies has a one year low of $7.85 and a one year high of $45.20. The company’s market cap is $857.19 million.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.74) by $0.33. Intra-Cellular Therapies had a negative net margin of 32,834.94% and a negative return on equity of 27.92%. The business had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.03 million. During the same period last year, the company posted ($0.71) EPS. The company’s revenue was down 52.2% on a year-over-year basis. Equities analysts expect that Intra-Cellular Therapies will post ($2.36) earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in ITCI. Teachers Advisors LLC increased its position in shares of Intra-Cellular Therapies by 0.6% in the 4th quarter. Teachers Advisors LLC now owns 70,948 shares of the biopharmaceutical company’s stock worth $1,071,000 after purchasing an additional 443 shares during the last quarter. Bank of Montreal Can increased its position in shares of Intra-Cellular Therapies by 699.4% in the 1st quarter. Bank of Montreal Can now owns 29,105 shares of the biopharmaceutical company’s stock worth $473,000 after purchasing an additional 25,464 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Intra-Cellular Therapies in the 1st quarter worth about $731,000. Russell Investments Group Ltd. increased its position in shares of Intra-Cellular Therapies by 3.8% in the 1st quarter. Russell Investments Group Ltd. now owns 38,357 shares of the biopharmaceutical company’s stock worth $623,000 after purchasing an additional 1,402 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its position in shares of Intra-Cellular Therapies by 3.1% in the 1st quarter. Pictet Asset Management Ltd. now owns 126,864 shares of the biopharmaceutical company’s stock worth $2,062,000 after purchasing an additional 3,756 shares during the last quarter. 71.79% of the stock is owned by institutional investors.

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).

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

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