Zurcher Kantonalbank Zurich Cantonalbank Buys 4,974 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 36.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 18,738 shares of the biopharmaceutical company’s stock after acquiring an additional 4,974 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Intra-Cellular Therapies were worth $1,342,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC raised its position in Intra-Cellular Therapies by 13.8% in the 3rd quarter. Global Retirement Partners LLC now owns 1,753 shares of the biopharmaceutical company’s stock worth $89,000 after purchasing an additional 213 shares during the period. Handelsbanken Fonder AB raised its position in Intra-Cellular Therapies by 13.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 17,400 shares of the biopharmaceutical company’s stock worth $906,000 after purchasing an additional 2,000 shares during the period. Raymond James & Associates raised its position in Intra-Cellular Therapies by 4.0% in the 3rd quarter. Raymond James & Associates now owns 149,445 shares of the biopharmaceutical company’s stock worth $7,785,000 after purchasing an additional 5,716 shares during the period. Bank of New York Mellon Corp raised its position in Intra-Cellular Therapies by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 404,329 shares of the biopharmaceutical company’s stock worth $21,061,000 after purchasing an additional 6,182 shares during the period. Finally, Strs Ohio raised its position in Intra-Cellular Therapies by 3.3% in the 3rd quarter. Strs Ohio now owns 27,900 shares of the biopharmaceutical company’s stock worth $1,453,000 after purchasing an additional 900 shares during the period. 92.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value of $429,312.00. Following the sale, the executive vice president now owns 16,170 shares in the company, valued at $1,076,275.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value of $429,312.00. Following the sale, the executive vice president now owns 16,170 shares in the company, valued at $1,076,275.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Halstead sold 7,907 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $69.53, for a total transaction of $549,773.71. Following the sale, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,065,041. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,487 shares of company stock worth $11,364,950. 3.40% of the stock is currently owned by company insiders.

Intra-Cellular Therapies Price Performance

ITCI stock opened at $73.26 on Friday. Intra-Cellular Therapies, Inc. has a 1 year low of $45.50 and a 1 year high of $84.89. The company has a market cap of $7.09 billion, a P/E ratio of -50.18 and a beta of 1.02. The firm has a 50-day moving average of $69.33 and a 200 day moving average of $64.78.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The business had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $135.97 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The business’s revenue was up 50.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.45) earnings per share. On average, equities research analysts expect that Intra-Cellular Therapies, Inc. will post -0.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on ITCI. The Goldman Sachs Group lifted their target price on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Mizuho upped their price objective on shares of Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $86.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Robert W. Baird upped their price objective on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Finally, Canaccord Genuity Group upped their price objective on shares of Intra-Cellular Therapies from $100.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.17.

Intra-Cellular Therapies Company 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.