Intra-Cellular Therapies (NASDAQ:ITCI) Earns “Buy” Rating from Leerink Swann
Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “buy” rating restated by Leerink Swann in a research note issued to investors on Tuesday, TipRanks reports.
Several other brokerages have also commented on ITCI. JMP Securities set a $21.00 price objective on Intra-Cellular Therapies and gave the company a “buy” rating in a research report on Tuesday. ValuEngine downgraded Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Zacks Investment Research lowered Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th. Jefferies Financial Group started coverage on shares of Intra-Cellular Therapies in a research report on Monday, August 12th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Royal Bank of Canada set a $26.00 price target on shares of Intra-Cellular Therapies and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. Intra-Cellular Therapies presently has an average rating of “Buy” and an average target price of $23.63.
ITCI traded down $0.21 during trading on Tuesday, reaching $10.19. The stock had a trading volume of 827,927 shares, compared to its average volume of 657,422. The stock has a market cap of $564.67 million, a PE ratio of -3.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.86 and a current ratio of 8.86. Intra-Cellular Therapies has a one year low of $7.41 and a one year high of $23.62. The business has a 50-day moving average of $8.84 and a 200-day moving average of $11.76.
In related news, Director Christopher D. Alafi acquired 485,000 shares of the firm’s 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 acquisition, the director now owns 341,223 shares in the company, valued at $3,500,947.98. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Christopher D. Alafi acquired 125,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was bought at an average price of $8.52 per share, for a total transaction of $1,065,000.00. Following the acquisition, the director now owns 341,223 shares of the company’s stock, valued at approximately $2,907,219.96. The disclosure for this purchase can be found here. Corporate insiders own 18.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of ITCI. FMR LLC grew its position in Intra-Cellular Therapies by 0.7% during the 1st quarter. FMR LLC now owns 8,267,510 shares of the biopharmaceutical company’s stock worth $100,698,000 after acquiring an additional 58,561 shares during the last quarter. BlackRock Inc. increased its stake in Intra-Cellular Therapies by 2.2% in the 2nd quarter. BlackRock Inc. now owns 3,933,274 shares of the biopharmaceutical company’s stock worth $51,055,000 after purchasing an additional 84,063 shares during the period. Wasatch Advisors Inc. lifted its position in Intra-Cellular Therapies by 19.0% in the first quarter. Wasatch Advisors Inc. now owns 2,361,619 shares of the biopharmaceutical company’s stock valued at $28,765,000 after purchasing an additional 377,561 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Intra-Cellular Therapies by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,444,223 shares of the biopharmaceutical company’s stock valued at $16,450,000 after purchasing an additional 24,335 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in Intra-Cellular Therapies by 5.6% in the second quarter. Schroder Investment Management Group now owns 1,430,469 shares of the biopharmaceutical company’s stock valued at $18,567,000 after purchasing an additional 75,757 shares during the last quarter. Institutional investors own 68.97% of the company’s stock.
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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