A number of other brokerages have also recently issued reports on ITCI. Zacks Investment Research cut shares of Intra-Cellular Therapies from a buy rating to a hold rating in a report on Thursday, July 18th. Cantor Fitzgerald restated an overweight rating and set a $29.00 target price (up from $26.00) on shares of Intra-Cellular Therapies in a report on Thursday, May 23rd. JMP Securities cut their target price on Intra-Cellular Therapies from $24.00 to $21.00 and set a market outperform rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada set a $26.00 price target on Intra-Cellular Therapies and gave the stock a buy rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group began coverage on Intra-Cellular Therapies in a research note on Monday, August 12th. They set a buy rating and a $16.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $23.88.
Shares of ITCI opened at $10.40 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.86 and a current ratio of 8.86. The firm has a market cap of $529.66 million, a PE ratio of -3.66 and a beta of 1.19. The firm’s 50 day moving average price is $8.88 and its 200 day moving average price is $11.78. Intra-Cellular Therapies has a twelve month low of $7.41 and a twelve month high of $23.62.
Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.68) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.83) by $0.15. On average, sell-side analysts anticipate that Intra-Cellular Therapies will post -3.39 earnings per share for the current fiscal year.
In other news, Director Christopher D. Alafi bought 125,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were acquired at an average cost of $8.52 per share, for a total transaction of $1,065,000.00. Following the purchase, the director now owns 341,223 shares of the company’s stock, valued at approximately $2,907,219.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 18.20% of the company’s stock.
Large investors have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. grew its stake in shares of Intra-Cellular Therapies by 3.8% in the second quarter. UBS Asset Management Americas Inc. now owns 31,464 shares of the biopharmaceutical company’s stock worth $408,000 after acquiring an additional 1,144 shares during the last quarter. First Mercantile Trust Co. grew its position in Intra-Cellular Therapies by 12.3% in the 1st quarter. First Mercantile Trust Co. now owns 11,522 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 1,265 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Intra-Cellular Therapies by 6.5% during the 2nd quarter. Invesco Ltd. now owns 33,761 shares of the biopharmaceutical company’s stock worth $438,000 after purchasing an additional 2,060 shares during the period. Aperio Group LLC increased its holdings in shares of Intra-Cellular Therapies by 16.0% during the 2nd quarter. Aperio Group LLC now owns 17,206 shares of the biopharmaceutical company’s stock worth $223,000 after purchasing an additional 2,367 shares during the period. Finally, Virtus ETF Advisers LLC raised its position in shares of Intra-Cellular Therapies by 12.9% during the second quarter. Virtus ETF Advisers LLC now owns 21,322 shares of the biopharmaceutical company’s stock valued at $277,000 after buying an additional 2,444 shares during the last quarter. Hedge funds and other institutional investors own 68.97% 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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