Intra-Cellular Therapies (ITCI) PT Raised to $37.00 at Royal Bank of Canada

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price upped by Royal Bank of Canada from $35.00 to $37.00 in a research report sent to investors on Wednesday, The Fly reports. The brokerage currently has an outperform rating on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised Intra-Cellular Therapies from a hold rating to a buy rating and set a $20.00 target price on the stock in a research note on Wednesday, November 14th. Cantor Fitzgerald set a $32.00 target price on Intra-Cellular Therapies and gave the company a buy rating in a research note on Tuesday, October 23rd. BidaskClub raised Intra-Cellular Therapies from a hold rating to a buy rating in a research note on Friday, September 28th. Canaccord Genuity set a $31.00 target price on Intra-Cellular Therapies and gave the company a buy rating in a research note on Wednesday. Finally, ValuEngine lowered Intra-Cellular Therapies from a buy rating to a hold rating in a research note on Thursday, November 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $28.50.

ITCI stock opened at $13.55 on Wednesday. Intra-Cellular Therapies has a 1 year low of $13.29 and a 1 year high of $25.82. The company has a market capitalization of $741.54 million, a P/E ratio of -6.39 and a beta of 1.09.



Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.09. As a group, equities analysts forecast that Intra-Cellular Therapies will post -3.03 earnings per share for the current year.

In other Intra-Cellular Therapies news, Director Joel S. Marcus sold 25,000 shares of the stock in a transaction on Friday, November 9th. The stock was sold at an average price of $18.24, for a total transaction of $456,000.00. Following the transaction, the director now owns 21,671 shares of the company’s stock, valued at approximately $395,279.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joel S. Marcus sold 32,000 shares of the stock in a transaction on Monday, November 12th. The stock was sold at an average price of $18.17, for a total value of $581,440.00. Following the transaction, the director now directly owns 21,671 shares in the company, valued at approximately $393,762.07. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,899 shares of company stock worth $1,049,603. Corporate insiders own 17.40% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP raised its position in shares of Intra-Cellular Therapies by 5,520.7% in the 3rd quarter. Quantbot Technologies LP now owns 4,609 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 4,527 shares during the period. Public Employees Retirement Association of Colorado raised its position in shares of Intra-Cellular Therapies by 127.8% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 5,687 shares of the biopharmaceutical company’s stock worth $123,000 after buying an additional 3,190 shares during the period. NumerixS Investment Technologies Inc purchased a new position in shares of Intra-Cellular Therapies in the 2nd quarter worth $167,000. Cubist Systematic Strategies LLC raised its position in shares of Intra-Cellular Therapies by 53.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 9,641 shares of the biopharmaceutical company’s stock worth $170,000 after buying an additional 3,339 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Intra-Cellular Therapies by 19.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 20,462 shares of the biopharmaceutical company’s stock worth $362,000 after buying an additional 3,400 shares during the period. 69.53% of the stock is currently 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 diseases. The company is developing its lead drug candidate, lumateperone, known as ITI-007, for the treatment of schizophrenia, bipolar disorder, behavioral disturbances in patients with dementia, and other neuropsychiatric and neurological disorders.

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