Intra-Cellular Therapies Inc (ITCI) Receives $29.71 Average PT from Analysts
Intra-Cellular Therapies Inc (NASDAQ:ITCI) has been assigned an average recommendation of “Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $29.71.
Several equities research analysts have recently weighed in on ITCI shares. Cantor Fitzgerald reissued a “buy” rating and set a $32.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, November 7th. Leerink Swann started coverage on Intra-Cellular Therapies in a research report on Tuesday, November 13th. They set an “outperform” rating and a $27.00 target price on the stock. BidaskClub lowered Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Royal Bank of Canada raised their target price on Intra-Cellular Therapies from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 12th. Finally, ValuEngine lowered Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research report on Thursday, November 15th.
ITCI stock opened at $13.27 on Friday. The stock has a market capitalization of $718.01 million, a price-to-earnings ratio of -6.26 and a beta of 1.30. Intra-Cellular Therapies has a 1 year low of $10.21 and a 1 year high of $25.82.
In related news, Director Joel S. Marcus sold 32,000 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $18.17, for a total transaction of $581,440.00. Following the transaction, the director now owns 21,671 shares in the company, valued at approximately $393,762.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Halstead sold 3,108 shares of the firm’s stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $12.42, for a total value of $38,601.36. Following the transaction, the executive vice president now owns 24,757 shares in the company, valued at approximately $307,481.94. The disclosure for this sale can be found here. Insiders have sold a total of 170,108 shares of company stock worth $2,335,684 in the last three months. Corporate insiders own 17.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ITCI. Schroder Investment Management Group purchased a new position in Intra-Cellular Therapies during the 2nd quarter worth approximately $21,222,000. Franklin Resources Inc. purchased a new position in Intra-Cellular Therapies during the 3rd quarter worth approximately $10,700,000. Point72 Asset Management L.P. grew its stake in Intra-Cellular Therapies by 234.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 634,466 shares of the biopharmaceutical company’s stock worth $13,768,000 after buying an additional 444,609 shares during the last quarter. Candriam Luxembourg S.C.A. grew its stake in Intra-Cellular Therapies by 131.2% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 548,000 shares of the biopharmaceutical company’s stock worth $11,892,000 after buying an additional 311,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Intra-Cellular Therapies by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,356,720 shares of the biopharmaceutical company’s stock worth $23,974,000 after buying an additional 159,860 shares during the last quarter. Hedge funds and other institutional investors own 69.53% of the company’s stock.
About Intra-Cellular Therapies
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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