RBC Capital analyst Brian Abrahams maintained a Buy rating on Intra-Cellular Therapies (ITCI) on August 10 and set a price target of $33.00. The company’s shares closed last Tuesday at $18.93.
According to TipRanks.com, Abrahams is a 5-star analyst with an average return of 10.7% and a 51.0% success rate. Abrahams covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Proteostasis Therapeutics, and Karyopharm Therapeutics.
Intra-Cellular Therapies has an analyst consensus of Strong Buy, with a price target consensus of $46.67, implying a 139.8% upside from current levels. In a report issued on August 10, Canaccord Genuity also maintained a Buy rating on the stock with a $70.00 price target.
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Based on Intra-Cellular Therapies’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.08 million and GAAP net loss of $47.41 million. In comparison, last year the company had a GAAP net loss of $34.84 million.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ITCI in relation to earlier this year.
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Intra-Cellular Therapies, Inc. is a biopharmaceutical company, which focuses on the discovery and clinical development of innovative, small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system, or CNS. Its lead product candidate, ITI-007, is in clinical development as a first-in-class treatment for schizophrenia. The company also includes pre-clinical programs that are focused on advancing drug candidates for the treatment of cognitive dysfunction, in both schizophrenia and Alzheimer’s disease, and for disease modification and the treatment of neurodegenerative disorders, including Alzheimer’s disease. The company was founded by Paul Greengard and Sharon Mates on August 29, 2013 and is headquartered in New York, NY.
