Legato Capital Management LLC Increases Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Legato Capital Management LLC increased its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 67.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,582 shares of the biopharmaceutical company’s stock after acquiring an additional 9,923 shares during the quarter. Legato Capital Management LLC’s holdings in Intra-Cellular Therapies were worth $1,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Intra-Cellular Therapies by 1.4% during the first quarter. Vanguard Group Inc. now owns 9,225,981 shares of the biopharmaceutical company’s stock worth $638,438,000 after purchasing an additional 131,679 shares during the last quarter. Wasatch Advisors LP boosted its position in Intra-Cellular Therapies by 6.3% in the 1st quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock valued at $266,748,000 after buying an additional 227,439 shares during the last quarter. Avoro Capital Advisors LLC boosted its position in Intra-Cellular Therapies by 9.7% in the 1st quarter. Avoro Capital Advisors LLC now owns 2,475,000 shares of the biopharmaceutical company’s stock valued at $171,270,000 after buying an additional 219,445 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Intra-Cellular Therapies by 12.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock valued at $120,723,000 after purchasing an additional 191,416 shares during the period. Finally, Norges Bank acquired a new position in shares of Intra-Cellular Therapies in the 4th quarter valued at $85,744,000. 92.33% of the stock is currently owned by institutional investors.

Intra-Cellular Therapies Trading Down 1.7 %

NASDAQ ITCI traded down $1.29 during trading on Tuesday, reaching $73.20. 170,133 shares of the company’s stock were exchanged, compared to its average volume of 963,710. The firm has a market capitalization of $7.73 billion, a PE ratio of -63.31 and a beta of 1.01. Intra-Cellular Therapies, Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $84.89. The company’s fifty day simple moving average is $75.17 and its 200-day simple moving average is $71.16.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.03. The company had revenue of $161.40 million during the quarter, compared to analyst estimates of $157.74 million. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. Intra-Cellular Therapies’s quarterly revenue was up 45.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.45) earnings per share. Equities analysts forecast that Intra-Cellular Therapies, Inc. will post -0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sharon Mates sold 28,680 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.46, for a total value of $2,135,512.80. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $79,696,697.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,229,876. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sharon Mates sold 28,680 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.46, for a total transaction of $2,135,512.80. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $79,696,697.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 124,869 shares of company stock worth $9,406,387. Insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. UBS Group decreased their price objective on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Cantor Fitzgerald boosted their price objective on shares of Intra-Cellular Therapies from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Mizuho boosted their price objective on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.00.

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.