Zacks Investment Research downgraded shares of Intra-Cellular Therapies (NASDAQ:ITCI) from a buy rating to a hold rating in a research report sent to investors on Thursday, Zacks.com reports.

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

Shares of ITCI opened at $11.82 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 9.59 and a quick ratio of 9.59. Intra-Cellular Therapies has a 12 month low of $10.09 and a 12 month high of $23.62. The business’s 50-day simple moving average is $12.44.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.27. As a group, sell-side analysts anticipate that Intra-Cellular Therapies will post -3.83 earnings per share for the current fiscal year.

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

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Advisors LP purchased a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth approximately $274,000. BlackRock Inc. increased its position in shares of Intra-Cellular Therapies by 1.9% during the fourth quarter. BlackRock Inc. now owns 4,004,666 shares of the biopharmaceutical company’s stock worth $45,614,000 after purchasing an additional 76,356 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Intra-Cellular Therapies by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 210,060 shares of the biopharmaceutical company’s stock worth $2,393,000 after purchasing an additional 2,516 shares in the last quarter. Citigroup Inc. increased its position in shares of Intra-Cellular Therapies by 19.7% during the fourth quarter. Citigroup Inc. now owns 22,585 shares of the biopharmaceutical company’s stock worth $257,000 after purchasing an additional 3,719 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth approximately $142,000. 69.12% of the stock is owned by institutional investors.

About Intra-Cellular Therapies

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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