Cowen reissued their buy rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a research report released on Monday, AnalystRatings.com reports. The firm currently has a $28.00 price objective on the biopharmaceutical company’s stock.
Several other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Hancock Jaffe Laboratories from a buy rating to a hold rating in a research note on Wednesday, June 26th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $29.00 target price (up previously from $26.00) on shares of Intra-Cellular Therapies in a research note on Thursday, May 23rd. Finally, BidaskClub raised shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating and six have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $27.67.
NASDAQ ITCI traded down $0.44 during trading hours on Monday, hitting $10.66. The company’s stock had a trading volume of 1,152,300 shares, compared to its average volume of 492,058. The stock has a fifty day moving average of $12.75. Intra-Cellular Therapies has a twelve month low of $10.09 and a twelve month high of $23.62. The firm has a market cap of $612.00 million, a price-to-earnings ratio of -3.75 and a beta of 1.25. The company has a quick ratio of 9.59, a current ratio of 9.59 and a debt-to-equity ratio of 0.07.
In related news, Director Christopher D. Alafi acquired 170,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was bought at an average price of $11.73 per share, with a total value of $1,994,100.00. Following the completion of the transaction, the director now directly owns 750,106 shares of the company’s stock, valued at $8,798,743.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher D. Alafi acquired 100,000 shares of the stock in a transaction dated Tuesday, May 14th. The shares were bought at an average cost of $12.56 per share, with a total value of $1,256,000.00. Following the transaction, the director now directly owns 750,106 shares of the company’s stock, valued at $9,421,331.36. The disclosure for this purchase can be found here. 18.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Rhumbline Advisers lifted its holdings in shares of Intra-Cellular Therapies by 43.6% in the 4th quarter. Rhumbline Advisers now owns 60,872 shares of the biopharmaceutical company’s stock valued at $693,000 after purchasing an additional 18,481 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of Intra-Cellular Therapies in the 4th quarter valued at about $274,000. BlackRock Inc. lifted its holdings in shares of Intra-Cellular Therapies by 1.9% in the 4th quarter. BlackRock Inc. now owns 4,004,666 shares of the biopharmaceutical company’s stock valued at $45,614,000 after purchasing an additional 76,356 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Intra-Cellular Therapies by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 210,060 shares of the biopharmaceutical company’s stock valued at $2,393,000 after purchasing an additional 2,516 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Intra-Cellular Therapies by 19.7% in the 4th quarter. Citigroup Inc. now owns 22,585 shares of the biopharmaceutical company’s stock valued at $257,000 after purchasing an additional 3,719 shares during the last quarter. 69.15% of the stock is owned by 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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