Intra-Cellular Therapies Inc (NASDAQ:ITCI) Director Christopher D. Alafi Buys 485,000 Shares

Intra-Cellular Therapies Inc (NASDAQ:ITCI) Director Christopher D. Alafi purchased 485,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $10.26 per share, for a total transaction of $4,976,100.00. Following the transaction, the director now directly owns 341,223 shares of the company’s stock, valued at $3,500,947.98. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

NASDAQ:ITCI traded down $0.21 during trading hours on Wednesday, reaching $10.19. The company’s stock had a trading volume of 868,845 shares, compared to its average volume of 657,422. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.86 and a current ratio of 8.86. The firm has a market capitalization of $564.67 million, a price-to-earnings ratio of -3.59 and a beta of 1.19. The firm has a 50-day simple moving average of $8.88 and a 200-day simple moving average of $11.78. Intra-Cellular Therapies Inc has a 1 year low of $7.41 and a 1 year high of $23.62.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.15. Equities analysts anticipate that Intra-Cellular Therapies Inc will post -3.39 earnings per share for the current fiscal year.

A number of research firms have recently issued reports on ITCI. BidaskClub upgraded Intra-Cellular Therapies from a “strong sell” rating to a “sell” rating in a report on Saturday. ValuEngine lowered Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Jefferies Financial Group began coverage on Intra-Cellular Therapies in a report on Monday, August 12th. They set a “buy” rating and a $16.00 price objective on the stock. Royal Bank of Canada set a $26.00 target price on Intra-Cellular Therapies and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Zacks Investment Research lowered Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven 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 $23.88.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Intra-Cellular Therapies by 0.7% in the first quarter. FMR LLC now owns 8,267,510 shares of the biopharmaceutical company’s stock worth $100,698,000 after buying an additional 58,561 shares during the period. BlackRock Inc. increased its position in shares of Intra-Cellular Therapies by 2.2% in the second quarter. BlackRock Inc. now owns 3,933,274 shares of the biopharmaceutical company’s stock valued at $51,055,000 after acquiring an additional 84,063 shares during the period. Wasatch Advisors Inc. increased its position in shares of Intra-Cellular Therapies by 19.0% in the first quarter. Wasatch Advisors Inc. now owns 2,361,619 shares of the biopharmaceutical company’s stock valued at $28,765,000 after acquiring an additional 377,561 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Intra-Cellular Therapies by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,444,223 shares of the biopharmaceutical company’s stock valued at $16,450,000 after acquiring an additional 24,335 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Intra-Cellular Therapies by 5.6% during the second quarter. Schroder Investment Management Group now owns 1,430,469 shares of the biopharmaceutical company’s stock valued at $18,567,000 after acquiring an additional 75,757 shares during the last quarter. Hedge funds and other institutional investors own 68.97% 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 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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