Brokerages Set Intra-Cellular Therapies Inc. (ITCI) Target Price at $27.40

Intra-Cellular Therapies Inc. (NASDAQ:ITCI) has been given an average rating of “Buy” by the eleven analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $27.40.

Several brokerages have recently issued reports on ITCI. Piper Jaffray Companies upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $14.00 to $33.00 in a research note on Thursday, September 7th. JMP Securities upgraded Intra-Cellular Therapies from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a research note on Thursday, August 24th. ValuEngine upgraded Intra-Cellular Therapies from a “strong sell” rating to a “sell” rating in a research note on Friday, August 18th. Cowen restated an “outperform” rating and set a $27.00 price objective (up previously from $20.00) on shares of Intra-Cellular Therapies in a research report on Friday, September 8th. Finally, SunTrust Banks upgraded Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a research report on Wednesday, November 8th.

Shares of Intra-Cellular Therapies (ITCI) traded down $0.01 during midday trading on Thursday, reaching $14.86. The company’s stock had a trading volume of 351,376 shares, compared to its average volume of 675,214. Intra-Cellular Therapies has a 52-week low of $7.85 and a 52-week high of $22.67.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.53). Intra-Cellular Therapies had a negative return on equity of 27.40% and a negative net margin of 28,038.35%. The company had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.06 million. During the same quarter last year, the company posted ($0.70) EPS. The company’s revenue for the quarter was up 675.0% compared to the same quarter last year. equities research analysts anticipate that Intra-Cellular Therapies will post -2.17 earnings per share for the current fiscal year.

In related news, major shareholder Alafi Capital Co Llc bought 258,065 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were purchased at an average cost of $15.50 per share, with a total value of $4,000,007.50. Following the acquisition, the insider now owns 3,953,270 shares of the company’s stock, valued at $61,275,685. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Christopher D. Alafi bought 10,000 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were bought at an average cost of $15.55 per share, for a total transaction of $155,500.00. Following the completion of the acquisition, the director now directly owns 744,466 shares in the company, valued at approximately $11,576,446.30. The disclosure for this purchase can be found here. 21.00% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its stake in shares of Intra-Cellular Therapies by 336.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 580,770 shares of the biopharmaceutical company’s stock valued at $7,213,000 after purchasing an additional 447,586 shares during the period. Swiss National Bank lifted its stake in shares of Intra-Cellular Therapies by 31.0% in the 3rd quarter. Swiss National Bank now owns 69,800 shares of the biopharmaceutical company’s stock valued at $1,101,000 after purchasing an additional 16,500 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Intra-Cellular Therapies in the 3rd quarter valued at about $390,000. First Midwest Bank Trust Division lifted its stake in shares of Intra-Cellular Therapies by 18.2% in the 3rd quarter. First Midwest Bank Trust Division now owns 184,836 shares of the biopharmaceutical company’s stock valued at $2,917,000 after purchasing an additional 28,487 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Intra-Cellular Therapies by 192.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 124,622 shares of the biopharmaceutical company’s stock valued at $2,025,000 after purchasing an additional 81,969 shares during the period. 74.47% of the stock is currently owned by hedge funds and other institutional investors.

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About Intra-Cellular Therapies

Intra-Cellular Therapies, Inc (ITI) is a biopharmaceutical company. The Company is focused on the discovery and clinical development of small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system (CNS).

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