Intra-Cellular Therapies (NASDAQ:ITCI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $20.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 15.54% from the company’s current price.

According to Zacks, “Intra-Cellular Therapies Inc. is a biopharmaceutical company. The company develops drugs for the treatment of neuropsychiatric and neurologic diseases and other disorders of the central nervous system. Its product candidates include ITI-007, ITI-002 and ITI-009 which is in clinical trials. Intra-Cellular Therapies Inc. is headquartered in New York. “

ITCI has been the subject of several other reports. Cantor Fitzgerald restated a “buy” rating and issued a $28.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, July 23rd. Canaccord Genuity set a $31.00 target price on Intra-Cellular Therapies and gave the company a “buy” rating in a research note on Thursday, August 2nd. ValuEngine upgraded Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Royal Bank of Canada restated a “buy” rating and issued a $35.00 target price on shares of Intra-Cellular Therapies in a research note on Friday, August 3rd. Finally, BidaskClub upgraded Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a research note on Friday, September 28th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Intra-Cellular Therapies has a consensus rating of “Buy” and an average price target of $28.25.

Shares of Intra-Cellular Therapies stock opened at $17.31 on Wednesday. Intra-Cellular Therapies has a 1-year low of $14.30 and a 1-year high of $25.82. The stock has a market cap of $990.00 million, a price-to-earnings ratio of -8.17 and a beta of 1.13.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.85) by $0.09. Sell-side analysts predict that Intra-Cellular Therapies will post -3.15 earnings per share for the current year.

In related news, Director Joel S. Marcus sold 25,000 shares of the firm’s stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $18.24, for a total value of $456,000.00. Following the transaction, the director now owns 21,671 shares of the company’s stock, valued at approximately $395,279.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joel S. Marcus sold 32,000 shares of the firm’s stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $18.17, for a total transaction of $581,440.00. Following the completion of the transaction, the director now directly owns 21,671 shares in the company, valued at approximately $393,762.07. The disclosure for this sale can be found here. Company insiders own 17.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tekla Capital Management LLC bought a new position in Intra-Cellular Therapies in the 3rd quarter valued at about $756,000. Hsbc Holdings PLC lifted its position in Intra-Cellular Therapies by 318.1% in the 3rd quarter. Hsbc Holdings PLC now owns 48,357 shares of the biopharmaceutical company’s stock valued at $1,049,000 after acquiring an additional 36,791 shares in the last quarter. Franklin Resources Inc. bought a new position in Intra-Cellular Therapies in the 3rd quarter valued at about $10,700,000. Dimensional Fund Advisors LP lifted its position in Intra-Cellular Therapies by 4.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,419,888 shares of the biopharmaceutical company’s stock valued at $30,813,000 after acquiring an additional 63,168 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in Intra-Cellular Therapies by 5,520.7% in the 3rd quarter. Quantbot Technologies LP now owns 4,609 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 4,527 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Intra-Cellular Therapies Company Profile

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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