Shares of Intra-Cellular Therapies Inc. (NASDAQ:ITCI) shot up 2.7% on Thursday . The stock traded as high as $41.80 and last traded at $41.59, with a volume of 279,961 shares trading hands. The stock had previously closed at $40.48.

A number of brokerages have recently issued reports on ITCI. Leerink Swann reaffirmed a “buy” rating on shares of Intra-Cellular Therapies in a research report on Saturday, April 30th. Piper Jaffray Cos. began coverage on Intra-Cellular Therapies in a research report on Wednesday, June 1st. They set an “overweight” rating and a $57.00 target price on the stock. Zacks Investment Research lowered Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Intra-Cellular Therapies in a research report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $70.78.

The firm’s 50-day moving average is $39.08 and its 200-day moving average is $35.15. The firm’s market cap is $1.77 billion.

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

A number of hedge funds and institutional investors have recently made changes to their positions in ITCI. Jennison Associates LLC raised its position in shares of Intra-Cellular Therapies by 212.9% in the fourth quarter. Jennison Associates LLC now owns 1,257,846 shares of the biopharmaceutical company’s stock worth $67,660,000 after buying an additional 855,846 shares during the last quarter. Marshall Wace LLP raised its position in shares of Intra-Cellular Therapies by 23.5% in the fourth quarter. Marshall Wace LLP now owns 23,148 shares of the biopharmaceutical company’s stock worth $1,245,000 after buying an additional 4,410 shares during the last quarter. Tekla Capital Management LLC raised its position in shares of Intra-Cellular Therapies by 25.2% in the fourth quarter. Tekla Capital Management LLC now owns 187,800 shares of the biopharmaceutical company’s stock worth $10,102,000 after buying an additional 37,800 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Intra-Cellular Therapies by 27.9% in the fourth quarter. New York State Common Retirement Fund now owns 26,600 shares of the biopharmaceutical company’s stock worth $1,431,000 after buying an additional 5,800 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Intra-Cellular Therapies by 505.4% in the fourth quarter. California Public Employees Retirement System now owns 78,700 shares of the biopharmaceutical company’s stock worth $4,233,000 after buying an additional 65,700 shares during the last quarter.

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).

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.