Intra-Cellular Therapies Inc. (NASDAQ:ITCI) dropped 3.1% on Wednesday . The stock traded as low as $39.39 and last traded at $40.15, with a volume of 147,861 shares trading hands. The stock had previously closed at $41.45.

ITCI has been the topic of several recent analyst reports. Leerink Swann reissued a “buy” rating on shares of Intra-Cellular Therapies in a research note on Thursday, June 30th. Cowen and Company reissued a “buy” rating on shares of Intra-Cellular Therapies in a research note on Wednesday, June 29th. Zacks Investment Research raised shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Wednesday, June 29th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $57.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, June 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $70.78.

The company’s 50-day moving average price is $38.75 and its 200-day moving average price is $35.55. The firm’s market cap is $1.72 billion.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Thursday, April 28th. The biopharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.14. On average, analysts expect that Intra-Cellular Therapies Inc. will post ($3.14) earnings per share for the current fiscal year.

A number of large investors have made changes to their positions in the company. California State Teachers Retirement System boosted its stake in shares of Intra-Cellular Therapies by 24.9% in the fourth quarter. California State Teachers Retirement System now owns 49,381 shares of the biopharmaceutical company’s stock valued at $2,656,000 after buying an additional 9,852 shares during the period. CAM Group Holding A S acquired a new stake in shares of Intra-Cellular Therapies during the fourth quarter valued at about $6,670,000. Jennison Associates acquired a new stake in shares of Intra-Cellular Therapies during the third quarter valued at about $16,096,000. Rhumbline Advisers boosted its stake in shares of Intra-Cellular Therapies by 33.1% in the fourth quarter. Rhumbline Advisers now owns 25,503 shares of the biopharmaceutical company’s stock valued at $1,372,000 after buying an additional 6,345 shares during the period. Finally, Sei Investments Co. acquired a new stake in shares of Intra-Cellular Therapies during the fourth quarter valued at about $4,539,000.

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).

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