Intra-Cellular Therapies (NASDAQ:ITCI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $20.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 26.66% from the stock’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. “

ITCI has been the topic of several other reports. Leerink Swann started coverage on shares of Intra-Cellular Therapies in a report on Tuesday. They set an “outperform” rating and a $27.00 price objective on the stock. Cantor Fitzgerald set a $32.00 price objective on shares of Intra-Cellular Therapies and gave the company a “buy” rating in a report on Tuesday, October 23rd. BidaskClub downgraded shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Canaccord Genuity set a $31.00 price objective on shares of Intra-Cellular Therapies and gave the company a “buy” rating in a report on Thursday, August 2nd. Finally, ValuEngine raised shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a report on Friday, August 3rd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Intra-Cellular Therapies has an average rating of “Buy” and a consensus price target of $28.25.

ITCI opened at $15.79 on Wednesday. The firm has a market cap of $976.86 million, a price-to-earnings ratio of -7.45 and a beta of 1.13. Intra-Cellular Therapies has a 52-week low of $14.31 and a 52-week high of $25.82.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.85) by $0.09. As a group, equities research analysts predict that Intra-Cellular Therapies will post -3.07 EPS for the current year.

In other news, Director Joel S. Marcus sold 25,000 shares of the stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $18.24, for a total value of $456,000.00. Following the completion of the sale, the director now directly owns 21,671 shares in the company, valued at $395,279.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joel S. Marcus sold 32,000 shares of the stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $18.17, for a total transaction of $581,440.00. Following the completion of the sale, the director now owns 21,671 shares of the company’s stock, valued at $393,762.07. The disclosure for this sale can be found here. Company insiders own 17.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN raised its position in shares of Intra-Cellular Therapies by 13.8% in the first quarter. Wells Fargo & Company MN now owns 25,352 shares of the biopharmaceutical company’s stock valued at $534,000 after buying an additional 3,065 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Intra-Cellular Therapies by 127.8% in the third quarter. Public Employees Retirement Association of Colorado now owns 5,687 shares of the biopharmaceutical company’s stock valued at $123,000 after buying an additional 3,190 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Intra-Cellular Therapies by 53.0% in the second quarter. Cubist Systematic Strategies LLC now owns 9,641 shares of the biopharmaceutical company’s stock valued at $170,000 after buying an additional 3,339 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Intra-Cellular Therapies by 19.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 20,462 shares of the biopharmaceutical company’s stock valued at $362,000 after buying an additional 3,400 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Intra-Cellular Therapies by 10.0% in the second quarter. GSA Capital Partners LLP now owns 48,594 shares of the biopharmaceutical company’s stock valued at $859,000 after buying an additional 4,400 shares during the last quarter. Institutional investors and hedge funds own 70.92% 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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