Analysts Set Intra-Cellular Therapies Inc (NASDAQ:ITCI) Price Target at $27.60

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Intra-Cellular Therapies Inc (NASDAQ:ITCI) has been assigned an average rating of “Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $27.67.

Several equities research analysts have issued reports on the stock. BidaskClub cut shares of Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a research note on Tuesday. ValuEngine cut shares of Intra-Cellular Therapies from a “hold” rating to a “sell” rating in a research note on Tuesday. Cowen reaffirmed a “buy” rating and set a $28.00 price target on shares of Intra-Cellular Therapies in a research note on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 price target (up from $26.00) on shares of Intra-Cellular Therapies in a research note on Thursday, May 23rd. Finally, Zacks Investment Research raised shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Wednesday, June 26th.

Intra-Cellular Therapies stock opened at $11.38 on Friday. Intra-Cellular Therapies has a 12-month low of $10.09 and a 12-month high of $23.62. The firm has a market cap of $742.11 million, a PE ratio of -4.01 and a beta of 1.25. The business’s 50-day moving average price is $12.78. The company has a debt-to-equity ratio of 0.07, a current ratio of 9.59 and a quick ratio of 9.59.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.90) by $0.27. On average, equities research analysts predict that Intra-Cellular Therapies will post -3.71 earnings per share for the current fiscal year.

In related news, Director Christopher D. Alafi bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average cost of $12.56 per share, with a total value of $1,256,000.00. Following the completion of the transaction, the director now owns 750,106 shares of the company’s stock, valued at $9,421,331.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christopher D. Alafi bought 170,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was bought at an average cost of $11.73 per share, for a total transaction of $1,994,100.00. Following the completion of the transaction, the director now directly owns 750,106 shares of the company’s stock, valued at approximately $8,798,743.38. The disclosure for this purchase can be found here. 18.20% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its stake in shares of Intra-Cellular Therapies by 43.6% in the fourth quarter. Rhumbline Advisers now owns 60,872 shares of the biopharmaceutical company’s stock worth $693,000 after purchasing an additional 18,481 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Intra-Cellular Therapies in the fourth quarter worth about $274,000. BlackRock Inc. grew its stake in shares of Intra-Cellular Therapies by 1.9% in the fourth quarter. BlackRock Inc. now owns 4,004,666 shares of the biopharmaceutical company’s stock worth $45,614,000 after purchasing an additional 76,356 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Intra-Cellular Therapies by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 210,060 shares of the biopharmaceutical company’s stock worth $2,393,000 after purchasing an additional 2,516 shares during the last quarter. Finally, Citigroup Inc. grew its stake in shares of Intra-Cellular Therapies by 19.7% in the fourth quarter. Citigroup Inc. now owns 22,585 shares of the biopharmaceutical company’s stock worth $257,000 after purchasing an additional 3,719 shares during the last quarter. 69.15% of the stock is currently owned by institutional investors and hedge funds.

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

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