New York State Common Retirement Fund Raises Stock Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

New York State Common Retirement Fund boosted its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,572 shares of the biopharmaceutical company’s stock after purchasing an additional 5,023 shares during the period. New York State Common Retirement Fund owned about 0.06% of Intra-Cellular Therapies worth $4,123,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. California Public Employees Retirement System boosted its holdings in Intra-Cellular Therapies by 14.2% in the fourth quarter. California Public Employees Retirement System now owns 160,376 shares of the biopharmaceutical company’s stock valued at $11,486,000 after purchasing an additional 19,936 shares during the last quarter. Shikiar Asset Management Inc. bought a new position in Intra-Cellular Therapies during the 4th quarter worth approximately $251,000. Handelsbanken Fonder AB lifted its holdings in Intra-Cellular Therapies by 6.3% during the 4th quarter. Handelsbanken Fonder AB now owns 18,500 shares of the biopharmaceutical company’s stock worth $1,325,000 after buying an additional 1,100 shares during the last quarter. Signaturefd LLC lifted its holdings in Intra-Cellular Therapies by 85.7% during the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 239 shares during the last quarter. Finally, abrdn plc bought a new position in Intra-Cellular Therapies during the 4th quarter worth approximately $4,204,000. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Bank of America increased their target price on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. The Goldman Sachs Group increased their price target on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Needham & Company LLC increased their price target on Intra-Cellular Therapies from $82.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Finally, Canaccord Genuity Group increased their price target on Intra-Cellular Therapies from $100.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Intra-Cellular Therapies presently has an average rating of “Moderate Buy” and an average target price of $90.17.

Intra-Cellular Therapies Price Performance

ITCI opened at $68.80 on Monday. Intra-Cellular Therapies, Inc. has a 12 month low of $45.50 and a 12 month high of $84.89. The stock has a market cap of $6.66 billion, a P/E ratio of -47.12 and a beta of 1.01. The stock’s 50 day moving average price is $69.16 and its 200 day moving average price is $65.56.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.14. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The company had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $135.97 million. During the same period last year, the firm earned ($0.45) EPS. The firm’s revenue for the quarter was up 50.3% on a year-over-year basis. Equities analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.59 EPS for the current year.

Insider Activity

In other news, CFO Lawrence J. Hineline sold 13,337 shares of Intra-Cellular Therapies stock in a transaction on Monday, February 26th. The stock was sold at an average price of $69.43, for a total transaction of $925,987.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Lawrence J. Hineline sold 13,337 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $69.43, for a total transaction of $925,987.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joel S. Marcus sold 26,328 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $68.68, for a total value of $1,808,207.04. Following the sale, the director now directly owns 39,662 shares of the company’s stock, valued at $2,723,986.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,487 shares of company stock worth $11,364,950. 3.40% of the stock is owned by company 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.