Intra-Cellular Therapies Inc. (NASDAQ:ITCI) shares dropped 5.3% during trading on Wednesday . The stock traded as low as $41.01 and last traded at $41.28, with a volume of 397,252 shares. The stock had previously closed at $43.59.

ITCI has been the topic of several analyst reports. Piper Jaffray Cos. initiated coverage on Intra-Cellular Therapies in a report on Wednesday, June 1st. They set an “overweight” rating and a $57.00 price target on the stock. Leerink Swann reissued a “buy” rating on shares of Intra-Cellular Therapies in a research report on Wednesday, June 22nd. Zacks Investment Research raised Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Wednesday, June 29th. Finally, Cowen and Company reissued a “buy” rating on shares of Intra-Cellular Therapies in a research report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Intra-Cellular Therapies presently has a consensus rating of “Buy” and an average price target of $70.25.

The firm’s 50-day moving average is $41.78 and its 200-day moving average is $36.91. The stock’s market capitalization is $1.77 billion.

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Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.79) by $0.08. The company earned $0.23 million during the quarter, compared to analysts’ expectations of $0.02 million. During the same quarter in the prior year, the company earned ($0.61) earnings per share. The firm’s revenue was up 283.3% compared to the same quarter last year. On average, analysts anticipate that Intra-Cellular Therapies Inc. will post ($3.17) earnings per share for the current year.

Several hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of Intra-Cellular Therapies by 23.1% in the second quarter. Royal Bank of Canada now owns 2,684 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 504 shares in the last quarter. Legal & General Group Plc increased its position in Intra-Cellular Therapies by 22.2% in the first quarter. Legal & General Group Plc now owns 4,085 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 742 shares during the period. Bank of Montreal Can acquired a new position in Intra-Cellular Therapies during the second quarter valued at $155,000. Mycio Wealth Partners LLC increased its position in Intra-Cellular Therapies by 14.3% in the second quarter. Mycio Wealth Partners LLC now owns 4,398 shares of the biopharmaceutical company’s stock valued at $171,000 after buying an additional 550 shares during the period. Finally, Teacher Retirement System of Texas increased its position in Intra-Cellular Therapies by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 4,532 shares of the biopharmaceutical company’s stock valued at $176,000 after buying an additional 546 shares during the period. Institutional investors and hedge funds own 70.15% of the company’s stock.

About Intra-Cellular Therapies

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).

5 Day Chart for NASDAQ:ITCI

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