Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 3.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 597,713 shares of the biopharmaceutical company’s stock after purchasing an additional 18,865 shares during the quarter. Principal Financial Group Inc. owned 0.56% of Intra-Cellular Therapies worth $43,735,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Intra-Cellular Therapies by 31.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock valued at $33,258,000 after buying an additional 109,892 shares during the period. TimesSquare Capital Management LLC grew its stake in Intra-Cellular Therapies by 6.5% during the 3rd quarter. TimesSquare Capital Management LLC now owns 438,083 shares of the biopharmaceutical company’s stock worth $32,055,000 after purchasing an additional 26,600 shares in the last quarter. Cynosure Group LLC increased its holdings in Intra-Cellular Therapies by 161.0% during the 3rd quarter. Cynosure Group LLC now owns 14,442 shares of the biopharmaceutical company’s stock worth $1,057,000 after purchasing an additional 8,909 shares during the period. Driehaus Capital Management LLC purchased a new stake in Intra-Cellular Therapies during the 2nd quarter worth about $14,755,000. Finally, Legato Capital Management LLC raised its position in Intra-Cellular Therapies by 67.7% in the 2nd quarter. Legato Capital Management LLC now owns 24,582 shares of the biopharmaceutical company’s stock valued at $1,684,000 after purchasing an additional 9,923 shares in the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Down 0.8 %

Shares of NASDAQ ITCI opened at $83.45 on Monday. The stock has a market cap of $8.85 billion, a PE ratio of -95.92 and a beta of 0.95. Intra-Cellular Therapies, Inc. has a 52-week low of $62.78 and a 52-week high of $93.45. The business has a 50-day moving average price of $83.64 and a 200 day moving average price of $77.47.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The business had revenue of $175.40 million for the quarter, compared to analysts’ expectations of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The business’s revenue was up 39.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.25) earnings per share. Sell-side analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ITCI has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Royal Bank of Canada boosted their target price on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Morgan Stanley raised their price target on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. lifted their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.23.

Intra-Cellular Therapies Profile

Intra-Cellular Therapies, Inc, a biopharmaceutical company, focuses on the discovery, clinical development, and commercialization of small molecule drugs that address medical needs primarily in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms in the central nervous system (CNS) in the United States.