Intra-Cellular Therapies Inc (ITCI) Receives $30.25 Average Price Target from Analysts

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Intra-Cellular Therapies Inc (NASDAQ:ITCI) has earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $30.25.

A number of brokerages have issued reports on ITCI. ValuEngine upgraded shares of Intra-Cellular Therapies from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. BidaskClub upgraded shares of Intra-Cellular Therapies from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $26.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, May 8th.

In other Intra-Cellular Therapies news, Director Christopher D. Alafi bought 100,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was bought at an average price of $12.56 per share, for a total transaction of $1,256,000.00. Following the completion of the transaction, the director now owns 750,106 shares in the company, valued at approximately $9,421,331.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its position in shares of Intra-Cellular Therapies by 0.7% during the first quarter. FMR LLC now owns 8,267,510 shares of the biopharmaceutical company’s stock worth $100,698,000 after purchasing an additional 58,561 shares in the last quarter. BlueMountain Capital Management LLC lifted its position in shares of Intra-Cellular Therapies by 100.0% during the first quarter. BlueMountain Capital Management LLC now owns 40,330 shares of the biopharmaceutical company’s stock worth $491,000 after purchasing an additional 20,161 shares in the last quarter. Man Group plc lifted its position in shares of Intra-Cellular Therapies by 21.6% during the first quarter. Man Group plc now owns 243,003 shares of the biopharmaceutical company’s stock worth $2,960,000 after purchasing an additional 43,200 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Intra-Cellular Therapies by 16.8% during the first quarter. Geode Capital Management LLC now owns 612,614 shares of the biopharmaceutical company’s stock worth $7,461,000 after purchasing an additional 88,153 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Intra-Cellular Therapies by 4.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 267,340 shares of the biopharmaceutical company’s stock worth $3,257,000 after purchasing an additional 12,289 shares in the last quarter. Institutional investors own 69.34% of the company’s stock.

Shares of NASDAQ ITCI traded up $0.07 during midday trading on Thursday, hitting $12.51. The company had a trading volume of 490,343 shares, compared to its average volume of 320,303. The company has a current ratio of 9.59, a quick ratio of 9.59 and a debt-to-equity ratio of 0.07. Intra-Cellular Therapies has a twelve month low of $10.21 and a twelve month high of $23.64.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.27. Analysts anticipate that Intra-Cellular Therapies will post -3.71 EPS for the current fiscal year.

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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