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 Saturday. The firm presently has a $21.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.29% from the stock’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 research reports. ValuEngine cut shares of Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. BidaskClub cut shares of Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. SunTrust Banks upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a research note on Wednesday, November 8th. Finally, Canaccord Genuity began coverage on shares of Intra-Cellular Therapies in a research note on Friday, December 15th. They issued a “buy” rating and a $31.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. Intra-Cellular Therapies has a consensus rating of “Buy” and an average target price of $26.11.

Intra-Cellular Therapies (NASDAQ:ITCI) traded up $0.47 during mid-day trading on Friday, hitting $18.87. 435,257 shares of the stock traded hands, compared to its average volume of 489,324. Intra-Cellular Therapies has a one year low of $7.85 and a one year high of $22.67. The firm has a market cap of $1,030.00, a PE ratio of -8.62 and a beta of 0.72.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.53) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.53). Intra-Cellular Therapies had a negative net margin of 28,038.35% and a negative return on equity of 27.40%. The company had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.06 million. During the same quarter last year, the business earned ($0.70) EPS. The business’s revenue was up 675.0% on a year-over-year basis. sell-side analysts predict that Intra-Cellular Therapies will post -2.13 earnings per share for the current year.

In related news, CEO Sharon Mates sold 18,750 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $15.75, for a total value of $295,312.50. Following the completion of the sale, the chief executive officer now owns 1,107,457 shares in the company, valued at $17,442,447.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lawrence J. Hineline sold 3,192 shares of the firm’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $15.67, for a total transaction of $50,018.64. Following the completion of the sale, the chief financial officer now owns 68,686 shares of the company’s stock, valued at approximately $1,076,309.62. The disclosure for this sale can be found here. Insiders sold 49,410 shares of company stock valued at $802,481 in the last quarter. Company insiders own 19.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BB Biotech AG raised its position in Intra-Cellular Therapies by 11.7% during the second quarter. BB Biotech AG now owns 2,150,000 shares of the biopharmaceutical company’s stock worth $26,703,000 after acquiring an additional 225,000 shares during the last quarter. Wasatch Advisors Inc. raised its position in Intra-Cellular Therapies by 18.7% during the third quarter. Wasatch Advisors Inc. now owns 1,970,181 shares of the biopharmaceutical company’s stock worth $31,089,000 after acquiring an additional 310,668 shares during the last quarter. State Street Corp raised its position in Intra-Cellular Therapies by 10.4% during the second quarter. State Street Corp now owns 1,004,360 shares of the biopharmaceutical company’s stock worth $12,474,000 after acquiring an additional 94,763 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Intra-Cellular Therapies by 45.1% during the third quarter. Dimensional Fund Advisors LP now owns 938,980 shares of the biopharmaceutical company’s stock worth $14,817,000 after acquiring an additional 291,793 shares during the last quarter. Finally, Perceptive Advisors LLC acquired a new position in Intra-Cellular Therapies during the third quarter worth about $14,667,000. Hedge funds and other institutional investors own 74.47% of the company’s stock.

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Intra-Cellular Therapies Company Profile

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).

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