BlackRock Inc. Increases Stock Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

BlackRock Inc. raised its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI – Get Rating) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,102,050 shares of the biopharmaceutical company’s stock after buying an additional 53,693 shares during the quarter. BlackRock Inc. owned about 7.50% of Intra-Cellular Therapies worth $330,459,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ITCI. Assenagon Asset Management S.A. raised its position in shares of Intra-Cellular Therapies by 21.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 47,422 shares of the biopharmaceutical company’s stock worth $2,207,000 after purchasing an additional 8,232 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth about $41,000. Mackenzie Financial Corp raised its position in shares of Intra-Cellular Therapies by 1,153.7% in the 2nd quarter. Mackenzie Financial Corp now owns 56,930 shares of the biopharmaceutical company’s stock worth $3,250,000 after purchasing an additional 52,389 shares during the last quarter. US Bancorp DE raised its position in shares of Intra-Cellular Therapies by 93.8% in the 2nd quarter. US Bancorp DE now owns 496 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 240 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Intra-Cellular Therapies by 9.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,462 shares of the biopharmaceutical company’s stock worth $205,000 after purchasing an additional 371 shares during the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Intra-Cellular Therapies Stock Down 0.5 %

Intra-Cellular Therapies stock opened at $44.00 on Friday. The business has a 50-day simple moving average of $48.44 and a two-hundred day simple moving average of $49.27. The company has a market cap of $4.19 billion, a P/E ratio of -16.18 and a beta of 1.13. Intra-Cellular Therapies, Inc. has a 52-week low of $42.01 and a 52-week high of $66.00.

Intra-Cellular Therapies (NASDAQ:ITCI – Get Rating) last released its quarterly earnings results on Wednesday, March 1st. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.17. The business had revenue of $87.87 million during the quarter, compared to the consensus estimate of $86.97 million. Intra-Cellular Therapies had a negative return on equity of 35.88% and a negative net margin of 102.37%. The business’s quarterly revenue was up 242.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.05) EPS. Research analysts anticipate that Intra-Cellular Therapies, Inc. will post -2.42 EPS for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 33,083 shares of the business’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $55.00, for a total transaction of $1,819,565.00. Following the completion of the transaction, the chief executive officer now directly owns 1,100,309 shares in the company, valued at approximately $60,516,995. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Sharon Mates sold 33,083 shares of the business’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $55.00, for a total transaction of $1,819,565.00. Following the completion of the transaction, the chief executive officer now directly owns 1,100,309 shares in the company, valued at approximately $60,516,995. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Suresh K. Durgam sold 8,354 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $46.84, for a total value of $391,301.36. Following the transaction, the senior vice president now owns 23,104 shares of the company’s stock, valued at $1,082,191.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,832 shares of company stock worth $9,468,975. 3.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ITCI has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their price target on Intra-Cellular Therapies from $59.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, March 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $83.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, February 1st. Royal Bank of Canada decreased their target price on Intra-Cellular Therapies from $75.00 to $71.00 and set an “outperform” rating for the company in a research report on Thursday, March 2nd. Finally, Mizuho decreased their target price on Intra-Cellular Therapies from $72.00 to $66.00 in a research report on Friday, March 3rd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.40.

Intra-Cellular Therapies Profile

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Intra-Cellular Therapies, Inc operates as a biopharmaceutical company. It focuses on the discovery and clinical development of 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.