Cantor Fitzgerald Analysts Give Intra-Cellular Therapies (NASDAQ:ITCI) a $27.00 Price Target
Cantor Fitzgerald set a $27.00 price target on Intra-Cellular Therapies (NASDAQ:ITCI) in a research note released on Tuesday, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
A number of other equities analysts also recently weighed in on ITCI. Cowen restated a buy rating and issued a $28.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, July 8th. JMP Securities decreased their price target on Intra-Cellular Therapies from $24.00 to $21.00 and set a market outperform rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group started coverage on Intra-Cellular Therapies in a report on Monday, August 12th. They set a buy rating and a $16.00 price target on the stock. ValuEngine cut Intra-Cellular Therapies from a buy rating to a hold rating in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada set a $26.00 price objective on Intra-Cellular Therapies and gave the stock a buy rating in a research report on Wednesday, August 7th. One research 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 stock has an average rating of Buy and an average target price of $23.63.
Intra-Cellular Therapies stock traded down $0.21 during midday trading on Tuesday, hitting $10.19. 827,927 shares of the stock were exchanged, compared to its average volume of 657,422. Intra-Cellular Therapies has a 52-week low of $7.41 and a 52-week high of $23.62. The stock has a market capitalization of $564.67 million, a price-to-earnings ratio of -3.59 and a beta of 1.19. The business’s 50-day moving average price is $8.84 and its 200-day moving average price is $11.76. 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 bought 485,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was acquired at an average cost of $10.26 per share, with a total value of $4,976,100.00. Following the completion of the transaction, the director now directly owns 341,223 shares of the company’s stock, valued at approximately $3,500,947.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher D. Alafi bought 125,000 shares of the stock in a transaction on Friday, August 30th. The stock was purchased at an average price of $8.52 per share, for a total transaction of $1,065,000.00. Following the completion of the purchase, the director now owns 341,223 shares of the company’s stock, valued at $2,907,219.96. The disclosure for this purchase can be found here. Insiders own 18.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Quantamental Technologies LLC bought a new position in shares of Intra-Cellular Therapies during the 2nd quarter worth $49,000. Bank of Montreal Can boosted its position in shares of Intra-Cellular Therapies by 114.4% in the 2nd quarter. Bank of Montreal Can now owns 7,067 shares of the biopharmaceutical company’s stock worth $92,000 after purchasing an additional 3,771 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Intra-Cellular Therapies by 883.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,361 shares of the biopharmaceutical company’s stock worth $126,000 after purchasing an additional 9,307 shares in the last quarter. First Mercantile Trust Co. grew its stake in shares of Intra-Cellular Therapies by 12.3% in the 1st quarter. First Mercantile Trust Co. now owns 11,522 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 1,265 shares during the last quarter. Finally, Slow Capital Inc. purchased a new stake in shares of Intra-Cellular Therapies in the 2nd quarter worth approximately $195,000. 68.97% of the stock is currently owned by hedge funds and other 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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