Wasatch Advisors LP Raises Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Wasatch Advisors LP increased its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 6.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,854,747 shares of the biopharmaceutical company’s stock after acquiring an additional 227,439 shares during the quarter. Intra-Cellular Therapies makes up 1.4% of Wasatch Advisors LP’s investment portfolio, making the stock its 22nd largest position. Wasatch Advisors LP owned approximately 3.98% of Intra-Cellular Therapies worth $266,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avoro Capital Advisors LLC purchased a new position in Intra-Cellular Therapies during the 4th quarter valued at about $161,543,000. Norges Bank bought a new position in shares of Intra-Cellular Therapies during the fourth quarter valued at approximately $85,744,000. Polar Capital Holdings Plc lifted its stake in Intra-Cellular Therapies by 150.0% in the third quarter. Polar Capital Holdings Plc now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $52,090,000 after acquiring an additional 600,000 shares during the period. Vanguard Group Inc. lifted its stake in Intra-Cellular Therapies by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock worth $651,334,000 after acquiring an additional 554,577 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in Intra-Cellular Therapies by 84.4% in the third quarter. Adage Capital Partners GP L.L.C. now owns 885,000 shares of the biopharmaceutical company’s stock valued at $46,100,000 after acquiring an additional 405,000 shares in the last quarter. Institutional investors own 92.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ITCI shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $120.00 target price on shares of Intra-Cellular Therapies in a research report on Friday, June 14th. The Goldman Sachs Group increased their price objective on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Canaccord Genuity Group boosted their target price on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, June 20th. TD Cowen increased their price target on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Mizuho boosted their price objective on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $94.33.

Intra-Cellular Therapies Price Performance

Shares of NASDAQ:ITCI traded up $0.55 during midday trading on Tuesday, hitting $68.54. The company had a trading volume of 1,396,929 shares, compared to its average volume of 1,045,797. The company has a market cap of $7.24 billion, a price-to-earnings ratio of -59.09 and a beta of 1.01. The company has a fifty day moving average of $69.15 and a two-hundred day moving average of $69.12. Intra-Cellular Therapies, Inc. has a 12-month low of $45.50 and a 12-month high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.15. The company had revenue of $144.90 million for the quarter, compared to analysts’ expectations of $141.41 million. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. The firm’s revenue was up 52.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.46) EPS. Research analysts expect that Intra-Cellular Therapies, Inc. will post -0.51 earnings per share for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In other news, Director Nostrand Robert L. Van sold 20,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $75.91, for a total value of $1,518,200.00. Following the transaction, the director now owns 9,690 shares of the company’s stock, valued at $735,567.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Rory B. Riggs sold 4,462 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $75.57, for a total transaction of $337,193.34. Following the sale, the director now directly owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nostrand Robert L. Van sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $75.91, for a total value of $1,518,200.00. Following the transaction, the director now owns 9,690 shares of the company’s stock, valued at $735,567.90. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

About Intra-Cellular Therapies

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.