Arizona State Retirement System raised its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI – Get Rating) by 19.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,136 shares of the biopharmaceutical company’s stock after buying an additional 3,527 shares during the period. Arizona State Retirement System’s holdings in Intra-Cellular Therapies were worth $1,355,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new position in Intra-Cellular Therapies during the first quarter valued at approximately $33,000. FourThought Financial LLC acquired a new position in Intra-Cellular Therapies during the first quarter valued at approximately $54,000. GPS Wealth Strategies Group LLC acquired a new position in shares of Intra-Cellular Therapies during the first quarter worth $61,000. Advisor Group Holdings Inc. lifted its position in shares of Intra-Cellular Therapies by 63.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 1,568 shares of the biopharmaceutical company’s stock worth $82,000 after purchasing an additional 608 shares in the last quarter. Finally, Shikiar Asset Management Inc. acquired a new position in shares of Intra-Cellular Therapies during the first quarter worth $214,000. 73.40% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on ITCI shares. SVB Leerink boosted their target price on shares of Intra-Cellular Therapies from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, April 21st. Piper Sandler started coverage on shares of Intra-Cellular Therapies in a research report on Friday, April 22nd. They set a “neutral” rating and a $59.00 target price on the stock. UBS Group began coverage on shares of Intra-Cellular Therapies in a research report on Monday, June 13th. They set a “buy” rating and a $75.00 target price on the stock. Finally, Mizuho began coverage on shares of Intra-Cellular Therapies in a research note on Wednesday, July 6th. They issued a “buy” rating and a $74.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $63.56.
Intra-Cellular Therapies Price Performance
Intra-Cellular Therapies (NASDAQ:ITCI – Get Rating) last released its earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, beating the consensus estimate of ($0.93) by $0.15. Intra-Cellular Therapies had a negative net margin of 294.89% and a negative return on equity of 53.93%. The firm had revenue of $35.00 million during the quarter, compared to analyst estimates of $33.52 million. During the same quarter in the previous year, the firm earned ($0.65) earnings per share. The firm’s revenue for the quarter was up 120.1% compared to the same quarter last year. As a group, analysts expect that Intra-Cellular Therapies, Inc. will post -2.97 EPS for the current fiscal year.
Insider Buying and Selling at Intra-Cellular Therapies
In other Intra-Cellular Therapies news, Director Joel S. Marcus sold 10,000 shares of the business’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $55.00, for a total transaction of $550,000.00. Following the completion of the sale, the director now owns 54,233 shares in the company, valued at $2,982,815. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.70% of the stock is owned by insiders.
Intra-Cellular Therapies Profile
Intra-Cellular Therapies, Inc, a biopharmaceutical company, develops novel drugs for the treatment of neuropsychiatric and neurologic diseases by targeting intracellular signaling mechanisms within the central nervous system in the United States. The company offers CAPLYTA for the treatment of schizophrenia in adults.
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