Research analysts at Royal Bank of Canada began coverage on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report issued on Thursday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $33.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 103.83% from the company’s previous close.

A number of other research firms have also recently issued reports on ITCI. Zacks Investment Research cut shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. ValuEngine cut shares of Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 5th. BidaskClub lowered shares of Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 12th. Finally, Canaccord Genuity began coverage on shares of Intra-Cellular Therapies in a research report on Friday, December 15th. They issued a “buy” rating and a $31.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $26.70.

Shares of Intra-Cellular Therapies (NASDAQ:ITCI) opened at $16.19 on Thursday. The stock has a market cap of $875.42, a P/E ratio of -7.36 and a beta of 0.86. Intra-Cellular Therapies has a one year low of $7.85 and a one year high of $22.67.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.53). The firm had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.06 million. Intra-Cellular Therapies had a negative net margin of 28,038.35% and a negative return on equity of 27.40%. The company’s revenue was up 675.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.70) earnings per share. equities research analysts expect that Intra-Cellular Therapies will post -2.04 EPS for the current fiscal year.

In other news, Chairman Sharon Mates sold 6,604 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $17.48, for a total value of $115,437.92. Following the transaction, the chairman now owns 1,088,707 shares of the company’s stock, valued at $19,030,598.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Michael Halstead sold 25,500 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $18.03, for a total transaction of $459,765.00. Following the completion of the transaction, the senior vice president now directly owns 191 shares in the company, valued at approximately $3,443.73. The disclosure for this sale can be found here. In the last three months, insiders sold 56,160 shares of company stock worth $966,934. Insiders own 19.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in Intra-Cellular Therapies during the third quarter worth $101,000. Quantbot Technologies LP increased its position in Intra-Cellular Therapies by 233.1% during the third quarter. Quantbot Technologies LP now owns 8,614 shares of the biopharmaceutical company’s stock worth $135,000 after acquiring an additional 6,028 shares during the period. SG Americas Securities LLC increased its position in Intra-Cellular Therapies by 45.9% during the third quarter. SG Americas Securities LLC now owns 12,060 shares of the biopharmaceutical company’s stock worth $190,000 after acquiring an additional 3,794 shares during the period. Voya Investment Management LLC increased its position in Intra-Cellular Therapies by 16.0% during the second quarter. Voya Investment Management LLC now owns 16,911 shares of the biopharmaceutical company’s stock worth $210,000 after acquiring an additional 2,338 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in Intra-Cellular Therapies during the fourth quarter worth $212,000. 74.37% of the stock is currently owned by institutional investors.

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Intra-Cellular Therapies Company Profile

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).

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

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