Several other analysts have also commented on the company. Cantor Fitzgerald reaffirmed an overweight rating and issued a $29.00 price objective (up previously from $26.00) on shares of Intra-Cellular Therapies in a report on Thursday, May 23rd. Zacks Investment Research downgraded shares of Intra-Cellular Therapies from a buy rating to a hold rating in a research note on Thursday, July 18th. Jefferies Financial Group initiated coverage on shares of Intra-Cellular Therapies in a research note on Monday, August 12th. They set a buy rating and a $16.00 price target on the stock. 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 research note on Wednesday, August 7th. Finally, Cowen reaffirmed a buy rating and set a $28.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $23.88.
ITCI traded up $0.22 on Wednesday, reaching $9.43. 40,674 shares of the company traded hands, compared to its average volume of 547,007. The stock’s 50 day moving average price is $9.12 and its 200-day moving average price is $11.90. Intra-Cellular Therapies has a 52-week low of $7.41 and a 52-week high of $23.62. The company has a market cap of $522.46 million, a price-to-earnings ratio of -3.35 and a beta of 1.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.86 and a quick ratio of 8.86.
Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.83) by $0.15. As a group, equities research analysts forecast 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 bought 170,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were acquired at an average cost of $11.73 per share, for a total transaction of $1,994,100.00. Following the acquisition, the director now directly owns 750,106 shares of the company’s stock, valued at $8,798,743.38. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christopher D. Alafi bought 125,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was acquired at an average price of $8.52 per share, for a total transaction of $1,065,000.00. Following the completion of the acquisition, the director now directly owns 341,223 shares in the company, valued at $2,907,219.96. The disclosure for this purchase can be found here. Company insiders own 18.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new position in shares of Intra-Cellular Therapies in the second quarter worth approximately $49,000. Bank of Montreal Can lifted its stake in shares of Intra-Cellular Therapies by 114.4% in the second quarter. Bank of Montreal Can now owns 7,067 shares of the biopharmaceutical company’s stock worth $92,000 after buying an additional 3,771 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Intra-Cellular Therapies by 883.0% in the first quarter. BNP Paribas Arbitrage SA now owns 10,361 shares of the biopharmaceutical company’s stock worth $126,000 after buying an additional 9,307 shares during the last quarter. First Mercantile Trust Co. raised its stake in 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 purchasing an additional 1,265 shares during the last quarter. Finally, Slow Capital Inc. acquired a new position in Intra-Cellular Therapies during the 2nd quarter valued at $195,000. 70.08% of the stock is currently owned by institutional investors and hedge funds.
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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