Zacks Investment Research upgraded shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Zacks.com reports. Zacks Investment Research currently has $13.00 target price on the biopharmaceutical company’s stock.
According to Zacks, “Intra-Cellular Therapies Inc. is a biopharmaceutical company. The company develops drugs for the treatment of neuropsychiatric and neurologic diseases and other disorders of the central nervous system. Its product candidates include ITI-007, ITI-002 and ITI-009 which is in clinical trials. Intra-Cellular Therapies Inc. is headquartered in New York. “
Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald reissued an overweight rating and set a $29.00 target price (up previously from $26.00) on shares of Intra-Cellular Therapies in a report on Thursday, May 23rd. ValuEngine raised shares of XCel Brands from a sell rating to a hold rating in a report on Tuesday, July 9th. BidaskClub cut shares of Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, July 9th. Finally, Cowen reissued a buy rating and set a $28.00 target price on shares of Intra-Cellular Therapies in a report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Intra-Cellular Therapies has an average rating of Hold and an average target price of $27.50.
Shares of Intra-Cellular Therapies stock opened at $11.82 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 9.59 and a quick ratio of 9.59. The business’s fifty day simple moving average is $12.44. Intra-Cellular Therapies has a 1 year low of $10.09 and a 1 year high of $23.62.
Intra-Cellular Therapies (NASDAQ:ITCI) last issued its 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. As a group, equities analysts anticipate that Intra-Cellular Therapies will post -3.83 earnings per share for the current fiscal year.
In other news, Director Christopher D. Alafi acquired 100,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was bought at an average price of $12.56 per share, with a total value of $1,256,000.00. Following the completion of the acquisition, the director now owns 750,106 shares of the company’s stock, valued at $9,421,331.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher D. Alafi acquired 170,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was purchased at an average cost of $11.73 per share, with a total value of $1,994,100.00. Following the acquisition, 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. Company insiders own 18.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITCI. First Trust Advisors LP purchased a new position in Intra-Cellular Therapies in the fourth quarter valued at $274,000. BlackRock Inc. increased its holdings in Intra-Cellular Therapies by 1.9% in the fourth quarter. BlackRock Inc. now owns 4,004,666 shares of the biopharmaceutical company’s stock valued at $45,614,000 after buying an additional 76,356 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in 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 valued at $2,393,000 after buying an additional 2,516 shares in the last quarter. Citigroup Inc. increased its holdings in Intra-Cellular Therapies by 19.7% in the fourth quarter. Citigroup Inc. now owns 22,585 shares of the biopharmaceutical company’s stock valued at $257,000 after buying an additional 3,719 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Intra-Cellular Therapies in the fourth quarter valued at $142,000. 69.12% of the stock is owned by institutional investors.
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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