Intra-Cellular Therapies (NASDAQ:ITCI) has been assigned a $27.00 price objective by Cantor Fitzgerald in a research report issued on Tuesday, TipRanks reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 164.97% from the stock’s current price.
Several other brokerages also recently weighed in on ITCI. ValuEngine downgraded Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Royal Bank of Canada set a $26.00 price target on Intra-Cellular Therapies and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Cowen reiterated a “buy” rating and set a $28.00 price target on shares of Intra-Cellular Therapies in a report on Monday, July 8th. Jefferies Financial Group initiated coverage on Intra-Cellular Therapies in a research report on Monday, August 12th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, Zacks Investment Research cut Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. One investment 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’s stock. The company has an average rating of “Buy” and an average target price of $23.63.
ITCI stock traded down $0.21 during mid-day trading on Tuesday, reaching $10.19. 827,927 shares of the stock traded hands, compared to its average volume of 657,422. The firm has a market capitalization of $564.67 million, a PE ratio of -3.59 and a beta of 1.19. The business has a 50-day moving average of $8.84 and a two-hundred day moving average of $11.76. Intra-Cellular Therapies has a 52 week low of $7.41 and a 52 week high of $23.62. The company has a quick ratio of 8.86, a current ratio of 8.86 and a debt-to-equity ratio of 0.08.
In other news, Director Christopher D. Alafi acquired 125,000 shares of the stock in a transaction dated Friday, August 30th. The shares were acquired at an average cost of $8.52 per share, for a total transaction of $1,065,000.00. Following the completion of the transaction, 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 this hyperlink. Also, Director Christopher D. Alafi acquired 485,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average price of $10.26 per share, for a total transaction of $4,976,100.00. Following the completion of the transaction, the director now owns 341,223 shares of the company’s stock, valued at approximately $3,500,947.98. The disclosure for this purchase can be found here. 18.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Quantamental Technologies LLC acquired a new stake in Intra-Cellular Therapies during the second quarter worth $49,000. Bank of Montreal Can lifted its holdings in shares of Intra-Cellular Therapies by 114.4% during the 2nd quarter. Bank of Montreal Can now owns 7,067 shares of the biopharmaceutical company’s stock worth $92,000 after acquiring an additional 3,771 shares during the period. BNP Paribas Arbitrage SA lifted its holdings 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 worth $126,000 after acquiring an additional 9,307 shares during the period. First Mercantile Trust Co. lifted its holdings 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 worth $140,000 after acquiring an additional 1,265 shares during the period. Finally, Slow Capital Inc. acquired a new stake in shares of Intra-Cellular Therapies during the 2nd quarter valued at about $195,000. 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.
Recommended Story: What is Depreciation?
Receive News & Ratings for Intra-Cellular Therapies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intra-Cellular Therapies and related companies with MarketBeat.com's FREE daily email newsletter.