Intra-Cellular Therapies (NASDAQ:ITCI) Earns Buy Rating from Leerink Swann

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Leerink Swann reissued their buy rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report issued on Tuesday morning, TipRanks reports.

Several other research analysts also recently issued reports on the company. Royal Bank of Canada set a $26.00 price objective on Intra-Cellular Therapies and gave the stock a buy rating in a research report on Wednesday, August 7th. JMP Securities set a $21.00 price objective on Intra-Cellular Therapies and gave the stock a buy rating in a research report on Tuesday. Cowen restated a buy rating and set a $28.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, July 8th. Jefferies Financial Group began coverage on Intra-Cellular Therapies in a research report on Monday, August 12th. They set a buy rating and a $16.00 price objective for the company. Finally, BidaskClub upgraded Intra-Cellular Therapies from a strong sell rating to a sell rating in a research report on Saturday, September 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Intra-Cellular Therapies currently has an average rating of Buy and a consensus target price of $23.63.

Shares of ITCI stock traded down $0.86 during midday trading on Tuesday, reaching $9.60. 10,125 shares of the company traded hands, compared to its average volume of 698,343. The firm’s 50 day simple moving average is $8.84 and its two-hundred day simple moving average is $11.76. Intra-Cellular Therapies has a 1-year low of $7.41 and a 1-year high of $23.62. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.86 and a quick ratio of 8.86. The firm has a market cap of $573.80 million, a PE ratio of -3.50 and a beta of 1.19.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.83) by $0.15. As a group, research analysts anticipate that Intra-Cellular Therapies will post -3.39 earnings per share for the current fiscal year.

In other Intra-Cellular Therapies news, Director Christopher D. Alafi purchased 125,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was bought at an average cost of $8.52 per share, for a total transaction of $1,065,000.00. Following the acquisition, the director now owns 341,223 shares of the company’s stock, valued at approximately $2,907,219.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher D. Alafi purchased 485,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was acquired at an average price of $10.26 per share, with a total value of $4,976,100.00. Following the completion of the acquisition, the director now directly owns 341,223 shares in the company, valued at approximately $3,500,947.98. The disclosure for this purchase can be found here. Insiders own 18.20% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of ITCI. Dimensional Fund Advisors LP raised its holdings in Intra-Cellular Therapies by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,444,223 shares of the biopharmaceutical company’s stock valued at $16,450,000 after acquiring an additional 24,335 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Intra-Cellular Therapies by 883.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,361 shares of the biopharmaceutical company’s stock valued at $126,000 after buying an additional 9,307 shares during the period. First Mercantile Trust Co. grew its stake in shares of Intra-Cellular Therapies by 12.3% during the 1st quarter. First Mercantile Trust Co. now owns 11,522 shares of the biopharmaceutical company’s stock valued at $140,000 after buying an additional 1,265 shares during the period. LLBH Private Wealth Management LLC purchased a new stake in shares of Intra-Cellular Therapies during the 1st quarter valued at $263,000. Finally, Wasatch Advisors Inc. grew its stake in shares of Intra-Cellular Therapies by 19.0% during the 1st quarter. Wasatch Advisors Inc. now owns 2,361,619 shares of the biopharmaceutical company’s stock valued at $28,765,000 after buying an additional 377,561 shares during the period. 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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Analyst Recommendations for Intra-Cellular Therapies (NASDAQ:ITCI)

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