Intra-Cellular Therapies Inc. (ITCI) Receives $28.00 Consensus Price Target from Analysts

Shares of Intra-Cellular Therapies Inc. (NASDAQ:ITCI) have earned an average recommendation of “Buy” from the twelve research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $27.83.

Several equities analysts have weighed in on ITCI shares. Canaccord Genuity started coverage on Intra-Cellular Therapies in a research report on Friday, December 15th. They set a “buy” rating and a $31.00 price target for the company. BTIG Research restated a “buy” rating and set a $36.00 price objective on shares of Intra-Cellular Therapies in a report on Friday, September 8th. SunTrust Banks upgraded Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a report on Wednesday, November 8th. Zacks Investment Research upgraded Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Wednesday, November 8th. Finally, Cowen restated an “outperform” rating and set a $27.00 price objective (up previously from $20.00) on shares of Intra-Cellular Therapies in a report on Friday, September 8th.

In related news, Director Christopher D. Alafi acquired 10,000 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were bought at an average cost of $15.55 per share, with a total value of $155,500.00. Following the completion of the transaction, the director now directly owns 744,466 shares of the company’s stock, valued at approximately $11,576,446.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard A. Lerner sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $15.09, for a total value of $105,630.00. Following the completion of the transaction, the director now directly owns 8,621 shares in the company, valued at $130,090.89. The disclosure for this sale can be found here. Insiders sold 26,400 shares of company stock worth $410,693 in the last quarter. 19.80% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in shares of Intra-Cellular Therapies during the third quarter worth about $101,000. SG Americas Securities LLC purchased a new stake in shares of Intra-Cellular Therapies during the second quarter worth about $103,000. Quantbot Technologies LP increased its position in shares of Intra-Cellular Therapies by 233.1% during the third quarter. Quantbot Technologies LP now owns 8,614 shares of the biopharmaceutical company’s stock worth $135,000 after acquiring an additional 6,028 shares during the last quarter. Bank of America Corp DE increased its position in shares of Intra-Cellular Therapies by 53.4% during the first quarter. Bank of America Corp DE now owns 9,660 shares of the biopharmaceutical company’s stock worth $157,000 after acquiring an additional 3,363 shares during the last quarter. Finally, Fred Alger Management Inc. purchased a new stake in shares of Intra-Cellular Therapies during the second quarter worth about $161,000. 74.47% of the stock is currently owned by institutional investors and hedge funds.

Intra-Cellular Therapies (ITCI) traded up $1.87 during trading on Monday, reaching $17.34. The company’s stock had a trading volume of 1,508,035 shares, compared to its average volume of 712,267. The stock has a market capitalization of $902.17, a P/E ratio of -7.92 and a beta of 0.72. Intra-Cellular Therapies has a one year low of $7.85 and a one year high of $22.67.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, hitting the consensus estimate of ($0.53). The company had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.06 million. Intra-Cellular Therapies had a negative return on equity of 27.40% and a negative net margin of 28,038.35%. Intra-Cellular Therapies’s revenue was up 675.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.70) earnings per share. equities research analysts forecast that Intra-Cellular Therapies will post -2.13 EPS for the current year.

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About Intra-Cellular Therapies

Intra-Cellular Therapies, Inc (ITI) is a biopharmaceutical company. The Company is focused 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 (CNS).

Analyst Recommendations for Intra-Cellular Therapies (NASDAQ:ITCI)

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