Intra-Cellular Therapies (NASDAQ:ITCI) PT Raised to $70.00

Intra-Cellular Therapies (NASDAQ:ITCI) had its target price boosted by Jefferies Financial Group from $55.00 to $70.00 in a research note issued to investors on Monday morning, The Fly reports. Jefferies Financial Group currently has a buy rating on the biopharmaceutical company’s stock.

Separately, Zacks Investment Research upgraded Intra-Cellular Therapies from a sell rating to a hold rating in a research report on Thursday, September 16th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $43.71.

Intra-Cellular Therapies stock opened at $35.30 on Monday. The company has a market capitalization of $2.87 billion, a PE ratio of -11.57 and a beta of 1.29. Intra-Cellular Therapies has a 12 month low of $22.92 and a 12 month high of $44.80. The stock has a 50-day moving average price of $33.48 and a two-hundred day moving average price of $35.62.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Sunday, August 8th. The biopharmaceutical company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.06). Intra-Cellular Therapies had a negative net margin of 425.79% and a negative return on equity of 37.50%. The firm had revenue of $20.00 million during the quarter, compared to the consensus estimate of $19.04 million. The company’s revenue was up 952.6% compared to the same quarter last year. On average, equities research analysts forecast that Intra-Cellular Therapies will post -3.32 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new stake in shares of Intra-Cellular Therapies in the second quarter valued at about $32,000. Point72 Hong Kong Ltd purchased a new stake in shares of Intra-Cellular Therapies in the first quarter valued at about $45,000. Advisor Group Holdings Inc. increased its holdings in Intra-Cellular Therapies by 55.6% during the second quarter. Advisor Group Holdings Inc. now owns 1,106 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 395 shares during the last quarter. Eaton Vance Management purchased a new stake in Intra-Cellular Therapies during the first quarter worth about $56,000. Finally, FORA Capital LLC purchased a new stake in Intra-Cellular Therapies during the second quarter worth about $58,000. 81.80% of the stock is currently owned by institutional investors and hedge funds.

About Intra-Cellular Therapies

Intra-Cellular Therapies, Inc operates as a biopharmaceutical company. It focuses on the discovery and clinical development of small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system, or CNS.

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