Intra-Cellular Therapies (NASDAQ:ITCI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The firm presently has a $13.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 6.82% from the company’s previous close.

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. “

Several other brokerages have also recently issued reports on ITCI. Cowen reiterated a “buy” rating and set a $28.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, July 8th. ValuEngine upgraded XCel Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $29.00 price target (up from $26.00) on shares of Intra-Cellular Therapies in a research report on Thursday, May 23rd. Finally, BidaskClub cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $27.50.

Shares of ITCI stock traded up $0.39 during mid-day trading on Wednesday, hitting $12.17. 2,837 shares of the stock traded hands, compared to its average volume of 1,432,419. Intra-Cellular Therapies has a twelve month low of $10.09 and a twelve month high of $23.62. The stock has a market capitalization of $642.87 million, a price-to-earnings ratio of -4.28 and a beta of 1.24. The stock’s 50-day simple moving average is $12.45. The company has a current ratio of 9.59, a quick ratio of 9.59 and a debt-to-equity ratio of 0.07.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.27. Equities analysts forecast that Intra-Cellular Therapies will post -3.83 earnings per share for the current year.

In related news, Director Christopher D. Alafi bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average cost of $12.56 per share, for a total transaction of $1,256,000.00. Following the acquisition, the director now directly owns 750,106 shares of the company’s stock, valued at approximately $9,421,331.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher D. Alafi bought 170,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was bought at an average price of $11.73 per share, for a total transaction of $1,994,100.00. Following the completion of the acquisition, the director now directly owns 750,106 shares in the company, valued at $8,798,743.38. The disclosure for this purchase can be found here. 18.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ITCI. FMR LLC boosted its position in shares of Intra-Cellular Therapies by 0.7% in the first quarter. FMR LLC now owns 8,267,510 shares of the biopharmaceutical company’s stock worth $100,698,000 after buying an additional 58,561 shares during the period. BlackRock Inc. increased its stake in Intra-Cellular Therapies by 1.9% during the fourth quarter. BlackRock Inc. now owns 4,004,666 shares of the biopharmaceutical company’s stock valued at $45,614,000 after acquiring an additional 76,356 shares during the period. Wasatch Advisors Inc. increased its stake in Intra-Cellular Therapies by 19.0% during the first quarter. Wasatch Advisors Inc. now owns 2,361,619 shares of the biopharmaceutical company’s stock valued at $28,765,000 after acquiring an additional 377,561 shares during the period. Dimensional Fund Advisors LP increased its stake in Intra-Cellular Therapies by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,444,223 shares of the biopharmaceutical company’s stock valued at $16,450,000 after acquiring an additional 24,335 shares during the period. Finally, Rhenman & Partners Asset Management AB increased its stake in Intra-Cellular Therapies by 43.9% during the first quarter. Rhenman & Partners Asset Management AB now owns 949,833 shares of the biopharmaceutical company’s stock valued at $11,569,000 after acquiring an additional 289,851 shares during the period. Institutional investors and hedge funds own 69.12% of the company’s stock.

Intra-Cellular Therapies Company Profile

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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