Intra-Cellular Therapies (NASDAQ:ITCI) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research report report published on Thursday, May 23rd, The Fly reports. Cantor Fitzgerald currently has a $29.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $26.00.

A number of other equities analysts have also issued reports on ITCI. ValuEngine lowered shares of Intra-Cellular Therapies from a hold rating to a sell rating in a research report on Thursday, January 24th. BidaskClub upgraded shares of Intra-Cellular Therapies from a strong sell rating to a sell rating in a research note on Saturday, February 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Intra-Cellular Therapies currently has a consensus rating of Hold and a consensus price target of $27.60.

NASDAQ ITCI traded down $0.33 during trading on Thursday, reaching $12.51. The company’s stock had a trading volume of 393,897 shares, compared to its average volume of 338,050. The company has a quick ratio of 9.59, a current ratio of 9.59 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $731.99 million, a PE ratio of -4.40 and a beta of 1.35. Intra-Cellular Therapies has a 1-year low of $10.21 and a 1-year high of $23.62.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.63) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.90) by $0.27. As a group, equities analysts anticipate that Intra-Cellular Therapies will post -3.71 EPS for the current year.

In related news, Director Christopher D. Alafi acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was bought at an average price of $12.56 per share, with a total value of $1,256,000.00. Following the acquisition, the director now owns 750,106 shares in the company, valued at approximately $9,421,331.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher D. Alafi acquired 170,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was bought at an average cost of $11.73 per share, with a total value of $1,994,100.00. The disclosure for this purchase can be found here. Corporate insiders own 17.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in 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 purchasing an additional 58,561 shares in the last quarter. BlueMountain Capital Management LLC increased its holdings in Intra-Cellular Therapies by 100.0% in 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 increased its holdings in Intra-Cellular Therapies by 21.6% in 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 increased its holdings in Intra-Cellular Therapies by 16.8% in 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. increased its holdings in Intra-Cellular Therapies by 4.8% in 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. 69.15% of the stock is owned by institutional investors.

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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