Intra-Cellular Therapies (NASDAQ:ITCI) Upgraded by BidaskClub to “Sell”
A number of other equities research analysts have also recently commented on the stock. Jefferies Financial Group started coverage on shares of Intra-Cellular Therapies in a research report on Monday, August 12th. They set a buy rating and a $16.00 target price for the company. Zacks Investment Research cut shares of Intra-Cellular Therapies from a buy rating to a hold rating in a report on Thursday, July 18th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $29.00 price target (up previously from $26.00) on shares of Intra-Cellular Therapies in a report on Thursday, May 23rd. JMP Securities decreased their price target on shares of Intra-Cellular Therapies from $24.00 to $21.00 and set a market outperform rating for the company in a report on Thursday, August 8th. Finally, Royal Bank of Canada set a $26.00 price target on shares of Intra-Cellular Therapies and gave the stock a buy rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $23.88.
NASDAQ:ITCI opened at $8.96 on Friday. Intra-Cellular Therapies has a 52 week low of $7.41 and a 52 week high of $23.62. The firm has a 50 day moving average of $10.17 and a 200 day moving average of $12.23. The company has a quick ratio of 8.86, a current ratio of 8.86 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $494.35 million, a price-to-earnings ratio of -3.15 and a beta of 1.18.
In related news, Director Christopher D. Alafi purchased 170,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was acquired at an average price of $11.73 per share, with a total value of $1,994,100.00. Following the completion of the acquisition, the director now owns 750,106 shares in the company, valued at approximately $8,798,743.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 18.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its holdings in shares of Intra-Cellular Therapies by 0.7% in the first quarter. FMR LLC now owns 8,267,510 shares of the biopharmaceutical company’s stock worth $100,698,000 after buying an additional 58,561 shares during the last quarter. Norges Bank purchased a new position in shares of Intra-Cellular Therapies in the fourth quarter worth $3,759,000. First Midwest Bank Trust Division raised its holdings in shares of Intra-Cellular Therapies by 69.8% during the second quarter. First Midwest Bank Trust Division now owns 600,236 shares of the biopharmaceutical company’s stock worth $7,791,000 after purchasing an additional 246,644 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Intra-Cellular Therapies by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 524,461 shares of the biopharmaceutical company’s stock worth $5,973,000 after purchasing an additional 25,588 shares during the last quarter. Finally, Wasatch Advisors Inc. raised its holdings in shares of Intra-Cellular Therapies by 19.0% during the first quarter. Wasatch Advisors Inc. now owns 2,361,619 shares of the biopharmaceutical company’s stock worth $28,765,000 after purchasing an additional 377,561 shares during the last quarter. 70.08% of the stock is owned by institutional investors and hedge funds.
About Intra-Cellular Therapies
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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