A Major Shareholder at Intra-Cellular Therapies (NASDAQ: ITCI) is Buying Shares

By Carrie Williams

Today, a Major Shareholder at Intra-Cellular Therapies (NASDAQ: ITCI), Moshe Alafi, bought shares of ITCI for $492.7K.

In addition to Moshe Alafi, 2 other ITCI executives reported Buy trades in the last month.

Based on Intra-Cellular Therapies’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $4,362 and GAAP net loss of $30.27 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $32.16 million. The company has a one year high of $59.96 and a one year low of $10.80. Currently, Intra-Cellular Therapies has an average volume of 426K.

Based on 6 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $34.25, reflecting a -60.4% downside. Eight different firms, including Cowen & Co. and Guggenheim, currently also have a Buy rating on the stock. Starting in October 2016, ITCI received 6 Buy ratings in a row.

The insider sentiment on Intra-Cellular Therapies has been positive according to 29 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

Intra-Cellular Therapies, Inc. is a biopharmaceutical company, which focuses on the discovery and clinical development of innovative, small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system, or CNS. Its lead product candidate, ITI-007, is in clinical development as a first-in-class treatment for schizophrenia. The company also includes pre-clinical programs that are focused on advancing drug candidates for the treatment of cognitive dysfunction, in both schizophrenia and Alzheimer’s disease, and for disease modification and the treatment of neurodegenerative disorders, including Alzheimer’s disease. Intra-Cellular Therapies was founded by Paul Greengard on August 29, 2013 and is headquartered in New York, NY.