Cantor Fitzgerald Reiterates “Buy” Rating for Intra-Cellular Therapies (ITCI)

Cantor Fitzgerald Reiterates “Buy” Rating for Intra-Cellular Therapies (ITCI)

Cantor Fitzgerald reissued their buy rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research report report published on Wednesday, AnalystRatings.com reports. The firm currently has a $26.00 price target on the biopharmaceutical company’s stock.

“. We reiterate our Overweight rating and $26 price target on ITCI shares. Intra-Cellular reported 1Q19 financial performance, ending the period with cash of $312.8M. Our model projects sufficient funding into 2H20 and through several clinical and regulatory milestones including NDA acceptance/approval of lumateperone for schizophrenia and P3 data in bipolar depression (Studies 401 & 404) that are expected later this quarter. We also look forward to luma’s potential approval in 3Q19, the establishment of the company’s commercial team and its market launch as a differentiated, broadly active neuropsych product.”,” the firm’s analyst wrote.

Several other analysts also recently commented on the stock. BidaskClub upgraded shares of Intra-Cellular Therapies from a sell rating to a hold rating in a report on Friday, April 26th. ValuEngine upgraded shares of Intra-Cellular Therapies from a sell rating to a hold rating in a report on Friday, March 1st. Finally, Zacks Investment Research downgraded shares of Intra-Cellular Therapies from a hold rating to a sell rating in a report on Thursday, January 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $27.00.

Shares of ITCI stock traded down $0.29 on Wednesday, hitting $13.25. The stock had a trading volume of 19,056 shares, compared to its average volume of 320,233. The company has a market cap of $729.20 million, a P/E ratio of -4.67 and a beta of 1.39. Intra-Cellular Therapies has a 12-month low of $10.21 and a 12-month high of $23.64.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.63) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.90) by $0.27. On average, equities research analysts predict that Intra-Cellular Therapies will post -4.06 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in ITCI. MetLife Investment Advisors LLC increased its holdings in Intra-Cellular Therapies by 55.8% during the third quarter. MetLife Investment Advisors LLC now owns 30,540 shares of the biopharmaceutical company’s stock worth $663,000 after buying an additional 10,934 shares during the last quarter. Vanguard Group Inc. increased its holdings in Intra-Cellular Therapies by 1.8% during the third quarter. Vanguard Group Inc. now owns 3,943,792 shares of the biopharmaceutical company’s stock worth $85,580,000 after buying an additional 69,950 shares during the last quarter. Vanguard Group Inc increased its holdings in Intra-Cellular Therapies by 1.8% during the third quarter. Vanguard Group Inc now owns 3,943,792 shares of the biopharmaceutical company’s stock worth $85,580,000 after buying an additional 69,950 shares during the last quarter. First Midwest Bank Trust Division increased its holdings in Intra-Cellular Therapies by 60.0% during the fourth quarter. First Midwest Bank Trust Division now owns 327,226 shares of the biopharmaceutical company’s stock worth $3,727,000 after buying an additional 122,756 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Intra-Cellular Therapies by 43.6% during the fourth quarter. Rhumbline Advisers now owns 60,872 shares of the biopharmaceutical company’s stock worth $693,000 after buying an additional 18,481 shares during the last quarter. Institutional investors own 69.20% of the company’s stock.

Intra-Cellular Therapies Company Profile

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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