Principal Financial Group Inc. Purchases 18,865 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Principal Financial Group Inc. boosted its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 597,713 shares of the biopharmaceutical company's stock after purchasing an additional 18,865 shares during the period. Principal Financial Group Inc. owned 0.56% of Intra-Cellular Therapies worth $43,735,000 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 ITCI. True Wealth Design LLC acquired a new position in shares of Intra-Cellular Therapies during the 3rd quarter worth $32,000. Summit Securities Group LLC acquired a new position in Intra-Cellular Therapies during the second quarter worth $56,000. Capital Performance Advisors LLP acquired a new position in Intra-Cellular Therapies during the third quarter worth $74,000. Wilmington Savings Fund Society FSB bought a new position in Intra-Cellular Therapies during the third quarter valued at about $97,000. Finally, Quarry LP lifted its position in shares of Intra-Cellular Therapies by 260.0% in the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company's stock worth $132,000 after buying an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company's stock.

Intra-Cellular Therapies Price Performance

Shares of NASDAQ ITCI traded up $0.55 during mid-day trading on Monday, hitting $84.00. The company had a trading volume of 344,707 shares, compared to its average volume of 825,533. Intra-Cellular Therapies, Inc. has a 12 month low of $62.78 and a 12 month high of $93.45. The firm has a market cap of $8.91 billion, a P/E ratio of -96.55 and a beta of 0.95. The business's 50-day simple moving average is $83.84 and its 200-day simple moving average is $77.58.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.07). The firm had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. Intra-Cellular Therapies's revenue was up 39.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.25) EPS. As a group, sell-side analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sharon Mates sold 51,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares of the company's stock, valued at $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ITCI shares. JPMorgan Chase & Co. increased their price objective on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Cantor Fitzgerald reissued an "overweight" rating and issued a $130.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Needham & Company LLC restated a "buy" rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. Royal Bank of Canada raised their target price on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Finally, Piper Sandler raised shares of Intra-Cellular Therapies from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Intra-Cellular Therapies presently has an average rating of "Moderate Buy" and an average price target of $97.23.

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.