Cowen & Co. Thinks Intra-Cellular Therapies’ Stock is Going to Recover

By Carrie Williams

In a report released today, Ritu Baral from Cowen & Co. maintained a Buy rating on Intra-Cellular Therapies (ITCIResearch Report), with a price target of $28. The company’s shares opened today at $10.98, close to its 52-week low of $10.09.

According to TipRanks.com, Baral is a top 100 analyst with an average return of 25.9% and a 51.0% success rate. Baral covers the Healthcare sector, focusing on stocks such as Milestone Pharmaceuticals Inc, Madrigal Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.

Intra-Cellular Therapies has an analyst consensus of Moderate Buy, with a price target consensus of $28.50.

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Based on Intra-Cellular Therapies’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $34.84 million. In comparison, last year the company had a GAAP net loss of $37.38 million.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ITCI in relation to earlier this year. Most recently, in May 2019, Joel Marcus, a Director at ITCI bought 20,000 shares for a total of $249,000.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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, I