Intra-Cellular Therapies Inc (ITCI) Receives Average Recommendation of “Buy” from Analysts

Intra-Cellular Therapies Inc (NASDAQ:ITCI) has been given an average recommendation of “Buy” by the ten research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $29.83.

A number of research analysts recently weighed in on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $35.00 target price on shares of Intra-Cellular Therapies in a report on Friday, August 3rd. Leerink Swann reissued an “outperform” rating on shares of Intra-Cellular Therapies in a report on Friday, October 19th. Zacks Investment Research lowered shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Cantor Fitzgerald assumed coverage on shares of Intra-Cellular Therapies in a report on Thursday, August 23rd. They issued an “overweight” rating and a $32.00 target price for the company. Finally, ValuEngine raised shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a report on Friday, August 3rd.

Institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement Association of Colorado lifted its position in shares of Intra-Cellular Therapies by 127.8% during the third quarter. Public Employees Retirement Association of Colorado now owns 5,687 shares of the biopharmaceutical company’s stock worth $123,000 after purchasing an additional 3,190 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in shares of Intra-Cellular Therapies during the second quarter worth $167,000. Cubist Systematic Strategies LLC lifted its position in shares of Intra-Cellular Therapies by 53.0% during the second quarter. Cubist Systematic Strategies LLC now owns 9,641 shares of the biopharmaceutical company’s stock worth $170,000 after purchasing an additional 3,339 shares during the last quarter. Atlantic Trust Group LLC bought a new stake in shares of Intra-Cellular Therapies during the first quarter worth $215,000. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of Intra-Cellular Therapies by 19.9% during the second quarter. State Board of Administration of Florida Retirement System now owns 20,462 shares of the biopharmaceutical company’s stock worth $362,000 after purchasing an additional 3,400 shares during the last quarter. Institutional investors own 71.48% of the company’s stock.

Shares of ITCI stock traded down $0.11 on Friday, reaching $18.51. The company’s stock had a trading volume of 197,985 shares, compared to its average volume of 326,581. Intra-Cellular Therapies has a 1 year low of $13.93 and a 1 year high of $25.82. The firm has a market cap of $1.01 billion, a PE ratio of -8.73 and a beta of 1.13.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.08. As a group, research analysts anticipate that Intra-Cellular Therapies will post -3.15 EPS for the current fiscal year.

About Intra-Cellular Therapies

Intra-Cellular Therapies, Inc, a biopharmaceutical company, engages in developing novel drugs for the treatment of neuropsychiatric and neurodegenerative diseases. The company is developing its lead drug candidate, lumateperone, known as ITI-007, for the treatment of schizophrenia, bipolar disorder, behavioral disturbances in patients with dementia, and other neuropsychiatric and neurological disorders.

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

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