Cowen reaffirmed their buy rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report issued on Monday, AnalystRatings.com reports. Cowen currently has a $28.00 price target on the biopharmaceutical company’s stock.
Several other research analysts have also issued reports on ITCI. BidaskClub upgraded Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, June 20th. Cantor Fitzgerald restated an overweight rating and set a $29.00 target price (up previously from $26.00) on shares of Intra-Cellular Therapies in a research report on Thursday, May 23rd. Finally, Zacks Investment Research lowered Hancock Jaffe Laboratories from a buy rating to a hold rating in a research report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $27.67.
ITCI opened at $10.66 on Monday. The stock has a market capitalization of $612.00 million, a price-to-earnings ratio of -3.75 and a beta of 1.25. Intra-Cellular Therapies has a 12 month low of $10.09 and a 12 month high of $23.62. The company has a current ratio of 9.59, a quick ratio of 9.59 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $12.70.
Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.63) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.90) by $0.27. Analysts predict that Intra-Cellular Therapies will post -3.71 earnings per share for the current year.
In other news, Director Christopher D. Alafi purchased 100,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average price of $12.56 per share, for a total transaction of $1,256,000.00. Following the completion of the acquisition, the director now owns 750,106 shares of the company’s stock, valued at $9,421,331.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher D. Alafi purchased 170,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was purchased at an average price of $11.73 per share, with a total value of $1,994,100.00. Following the acquisition, the director now directly owns 750,106 shares of the company’s stock, valued at approximately $8,798,743.38. The disclosure for this purchase can be found here. 18.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Intra-Cellular Therapies by 0.7% in the first quarter. FMR LLC now owns 8,267,510 shares of the biopharmaceutical company’s stock valued at $100,698,000 after purchasing an additional 58,561 shares during the period. Citigroup Inc. raised its stake in Intra-Cellular Therapies by 19.7% in the fourth quarter. Citigroup Inc. now owns 22,585 shares of the biopharmaceutical company’s stock worth $257,000 after buying an additional 3,719 shares in the last quarter. Norges Bank bought a new position in Intra-Cellular Therapies in the fourth quarter worth approximately $3,759,000. Samlyn Capital LLC raised its stake in Intra-Cellular Therapies by 64.2% in the fourth quarter. Samlyn Capital LLC now owns 1,266,138 shares of the biopharmaceutical company’s stock worth $14,421,000 after buying an additional 494,918 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in Intra-Cellular Therapies by 354.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 14,016 shares of the biopharmaceutical company’s stock worth $160,000 after buying an additional 10,934 shares in the last quarter. Hedge funds and other institutional investors own 69.15% of the company’s stock.
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.
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.