Intra-Cellular Therapies (NASDAQ:ITCI) Stock Rating Reaffirmed by Cowen

Cowen reaffirmed their buy rating on shares of Intra-Cellular Therapies (NASDAQ:ITCI) in a report published on Monday morning, AnalystRatings.com reports. The firm currently has a $28.00 price objective on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Hancock Jaffe Laboratories from a buy rating to a hold rating in a report on Wednesday, June 26th. BidaskClub upgraded Zynerba Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, June 20th. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $29.00 target price (up previously from $26.00) on shares of Intra-Cellular Therapies in a report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $27.67.

Shares of ITCI traded down $0.44 on Monday, reaching $10.66. The stock had a trading volume of 1,152,300 shares, compared to its average volume of 492,058. The stock has a market cap of $612.00 million, a price-to-earnings ratio of -3.75 and a beta of 1.25. The company has a debt-to-equity ratio of 0.07, a current ratio of 9.59 and a quick ratio of 9.59. The company’s 50-day moving average is $12.75. Intra-Cellular Therapies has a twelve month low of $10.09 and a twelve month high of $23.62.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.27. As a group, equities analysts anticipate that Intra-Cellular Therapies will post -3.71 EPS for the current year.

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

Large investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its stake in shares of Intra-Cellular Therapies by 883.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,361 shares of the biopharmaceutical company’s stock worth $126,000 after purchasing an additional 9,307 shares during the period. First Mercantile Trust Co. lifted its stake in shares of Intra-Cellular Therapies by 12.3% during the 1st quarter. First Mercantile Trust Co. now owns 11,522 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 1,265 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Intra-Cellular Therapies during the 4th quarter worth $142,000. Metropolitan Life Insurance Co. NY lifted its stake in shares of Intra-Cellular Therapies by 354.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 14,016 shares of the biopharmaceutical company’s stock worth $160,000 after purchasing an additional 10,934 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Intra-Cellular Therapies by 9.4% during the 4th quarter. Legal & General Group Plc now owns 16,044 shares of the biopharmaceutical company’s stock worth $183,000 after purchasing an additional 1,374 shares during the period. Hedge funds and other institutional investors own 69.15% of the company’s stock.

Intra-Cellular Therapies Company Profile

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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Analyst Recommendations for Intra-Cellular Therapies (NASDAQ:ITCI)

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