JMP Securities Reiterates $21.00 Price Target for Intra-Cellular Therapies (NASDAQ:ITCI)

JMP Securities set a $21.00 price objective on Intra-Cellular Therapies (NASDAQ:ITCI) in a report released on Tuesday morning, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

ITCI has been the subject of a number of other research reports. ValuEngine downgraded Intra-Cellular Therapies from a buy rating to a hold rating in a research report on Wednesday, September 4th. Cowen reissued a buy rating and set a $28.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, July 8th. BidaskClub raised Intra-Cellular Therapies from a strong sell rating to a sell rating in a research report on Saturday, September 7th. Jefferies Financial Group assumed coverage on Intra-Cellular Therapies in a research report on Monday, August 12th. They issued a buy rating and a $16.00 target price for the company. Finally, Zacks Investment Research cut Intra-Cellular Therapies from a buy rating to a hold rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $23.63.

Shares of NASDAQ:ITCI traded down $0.86 during midday trading on Tuesday, reaching $9.60. The company’s stock had a trading volume of 10,125 shares, compared to its average volume of 698,343. The firm has a market cap of $573.80 million, a price-to-earnings ratio of -3.50 and a beta of 1.19. The company has a quick ratio of 8.86, a current ratio of 8.86 and a debt-to-equity ratio of 0.08. Intra-Cellular Therapies has a 1 year low of $7.41 and a 1 year high of $23.62. The business has a 50 day moving average price of $8.84 and a 200 day moving average price of $11.76.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.68) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.83) by $0.15. Sell-side analysts anticipate that Intra-Cellular Therapies will post -3.39 earnings per share for the current fiscal year.

In other news, Director Christopher D. Alafi purchased 125,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was purchased at an average cost of $8.52 per share, with a total value of $1,065,000.00. Following the purchase, the director now owns 341,223 shares in the company, valued at approximately $2,907,219.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher D. Alafi purchased 485,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average cost of $10.26 per share, with a total value of $4,976,100.00. Following the completion of the purchase, the director now owns 341,223 shares in the company, valued at approximately $3,500,947.98. The disclosure for this purchase can be found here. Company insiders own 18.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ITCI. Dimensional Fund Advisors LP boosted its stake in Intra-Cellular Therapies by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,444,223 shares of the biopharmaceutical company’s stock valued at $16,450,000 after purchasing an additional 24,335 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Intra-Cellular Therapies by 883.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,361 shares of the biopharmaceutical company’s stock valued at $126,000 after acquiring an additional 9,307 shares during the last quarter. First Mercantile Trust Co. lifted its position in shares of 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 acquiring an additional 1,265 shares during the last quarter. LLBH Private Wealth Management LLC acquired a new stake in shares of Intra-Cellular Therapies during the 1st quarter valued at $263,000. Finally, Wasatch Advisors Inc. lifted its position in shares of Intra-Cellular Therapies by 19.0% during the 1st quarter. Wasatch Advisors Inc. now owns 2,361,619 shares of the biopharmaceutical company’s stock valued at $28,765,000 after acquiring an additional 377,561 shares during the last quarter. 68.97% of the stock is owned by hedge funds and other institutional investors.

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

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