Jefferies Financial Group assumed coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research note published on Monday, BenzingaRatingsTable reports. The firm issued a buy rating and a $16.00 price target on the biopharmaceutical company’s stock. Jefferies Financial Group also issued estimates for Intra-Cellular Therapies’ Q3 2019 earnings at ($0.81) EPS, Q4 2019 earnings at ($1.16) EPS, FY2019 earnings at ($3.29) EPS, Q1 2020 earnings at ($1.07) EPS, Q2 2020 earnings at ($1.07) EPS, Q3 2020 earnings at ($0.98) EPS, Q4 2020 earnings at ($0.92) EPS, FY2020 earnings at ($4.02) EPS and FY2021 earnings at ($3.13) EPS.
ITCI has been the subject of several other research reports. BidaskClub lowered Intra-Cellular Therapies from a sell rating to a strong sell rating in a research report on Tuesday, July 9th. Zacks Investment Research lowered Intra-Cellular Therapies from a buy rating to a hold rating in a research report on Thursday, July 18th. Cantor Fitzgerald reiterated an overweight rating and issued a $29.00 target price (up previously from $26.00) on shares of Intra-Cellular Therapies in a research report on Thursday, May 23rd. JMP Securities decreased their target price on Intra-Cellular Therapies from $24.00 to $21.00 and set a market outperform rating for the company in a research report on Thursday, August 8th. Finally, Royal Bank of Canada set a $26.00 target price on Intra-Cellular Therapies and gave the stock a buy rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Intra-Cellular Therapies currently has an average rating of Buy and a consensus target price of $23.88.
Shares of ITCI opened at $9.03 on Monday. The firm has a market cap of $510.35 million, a price-to-earnings ratio of -3.18 and a beta of 1.18. The stock has a 50 day moving average of $10.59 and a 200-day moving average of $12.31. The company has a current ratio of 8.86, a quick ratio of 8.86 and a debt-to-equity ratio of 0.08. Intra-Cellular Therapies has a 52 week low of $7.41 and a 52 week high of $23.62.
In related news, Director Christopher D. Alafi acquired 170,000 shares of Intra-Cellular Therapies stock in a transaction that occurred on Wednesday, June 12th. The stock was acquired at an average price of $11.73 per share, for a total transaction of $1,994,100.00. Following the transaction, the director now directly owns 750,106 shares of the company’s stock, valued at approximately $8,798,743.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 18.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Intra-Cellular Therapies by 0.7% during the 1st quarter. FMR LLC now owns 8,267,510 shares of the biopharmaceutical company’s stock valued at $100,698,000 after purchasing an additional 58,561 shares during the period. Norges Bank acquired a new position in Intra-Cellular Therapies during the 4th quarter valued at approximately $3,759,000. Metropolitan Life Insurance Co. NY boosted its position in Intra-Cellular Therapies by 354.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 14,016 shares of the biopharmaceutical company’s stock valued at $160,000 after purchasing an additional 10,934 shares during the period. First Midwest Bank Trust Division boosted its position in Intra-Cellular Therapies by 69.8% during the 2nd quarter. First Midwest Bank Trust Division now owns 600,236 shares of the biopharmaceutical company’s stock valued at $7,791,000 after purchasing an additional 246,644 shares during the period. Finally, Geode Capital Management LLC boosted its position in Intra-Cellular Therapies by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 524,461 shares of the biopharmaceutical company’s stock valued at $5,973,000 after purchasing an additional 25,588 shares during the period. Institutional investors and hedge funds own 69.45% 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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