Cookson Peirce & Co. Inc. Takes $975,000 Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Cookson Peirce & Co. Inc. purchased a new stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,670 shares of the biopharmaceutical company's stock, valued at approximately $975,000.

A number of other hedge funds have also modified their holdings of the business. TimesSquare Capital Management LLC lifted its position in Intra-Cellular Therapies by 91.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 840,269 shares of the biopharmaceutical company's stock valued at $70,179,000 after buying an additional 402,186 shares during the last quarter. Eagle Asset Management Inc. raised its stake in shares of Intra-Cellular Therapies by 130.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 624,759 shares of the biopharmaceutical company's stock valued at $45,714,000 after acquiring an additional 353,723 shares during the period. Franklin Resources Inc. raised its stake in shares of Intra-Cellular Therapies by 9.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company's stock valued at $129,463,000 after acquiring an additional 155,655 shares during the period. Wasatch Advisors LP lifted its holdings in shares of Intra-Cellular Therapies by 3.5% in the 3rd quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company's stock worth $281,601,000 after acquiring an additional 130,351 shares during the last quarter. Finally, M&G PLC purchased a new position in shares of Intra-Cellular Therapies during the 3rd quarter worth approximately $9,076,000. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of research firms have commented on ITCI. Cantor Fitzgerald upgraded Intra-Cellular Therapies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Mizuho lowered Intra-Cellular Therapies from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $140.00 to $132.00 in a research note on Monday, February 24th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $132.00 target price (up from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Piper Sandler reissued a "neutral" rating and set a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Finally, Needham & Company LLC restated a "hold" rating on shares of Intra-Cellular Therapies in a report on Friday, February 21st. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Intra-Cellular Therapies currently has a consensus rating of "Hold" and a consensus target price of $106.08.

Intra-Cellular Therapies Stock Performance

ITCI stock traded down $0.01 during midday trading on Friday, reaching $131.24. 1,259,934 shares of the company were exchanged, compared to its average volume of 1,294,747. The company has a market cap of $13.95 billion, a price-to-earnings ratio of -150.85 and a beta of 0.69. Intra-Cellular Therapies, Inc. has a 1-year low of $63.30 and a 1-year high of $131.36. The stock's 50-day simple moving average is $119.20 and its 200 day simple moving average is $93.55.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last announced its quarterly earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.08). Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The company had revenue of $199.22 million for the quarter, compared to analyst estimates of $205.08 million. On average, research analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Intra-Cellular Therapies 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.