Norges Bank Invests $268.35 Million in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Norges Bank bought a new position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,212,964 shares of the biopharmaceutical company's stock, valued at approximately $268,347,000. Norges Bank owned 3.02% of Intra-Cellular Therapies at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Intra-Cellular Therapies by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 9,721,360 shares of the biopharmaceutical company's stock worth $811,928,000 after purchasing an additional 93,107 shares during the period. Wasatch Advisors LP grew its stake 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 buying an additional 130,351 shares during the last quarter. Bellevue Group AG increased its position in Intra-Cellular Therapies by 0.6% during the 3rd quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company's stock valued at $181,873,000 after buying an additional 14,342 shares in the last quarter. State Street Corp raised its stake in Intra-Cellular Therapies by 3.1% during the third quarter. State Street Corp now owns 1,858,915 shares of the biopharmaceutical company's stock valued at $136,017,000 after buying an additional 56,664 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Intra-Cellular Therapies by 9.7% during the third quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company's stock valued at $129,463,000 after buying an additional 155,655 shares during the last quarter. 92.33% of the stock is currently owned by institutional investors.

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Intra-Cellular Therapies Price Performance

NASDAQ ITCI remained flat at $131.87 on Thursday. The company's 50 day moving average price is $129.43 and its 200 day moving average price is $100.82. The stock has a market cap of $14.05 billion, a price-to-earnings ratio of -151.57 and a beta of 0.69. Intra-Cellular Therapies, Inc. has a 1-year low of $64.09 and a 1-year high of $131.98.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on ITCI shares. Leerink Partnrs downgraded Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a report on Monday, January 13th. Royal Bank of Canada reiterated a "sector perform" rating and set a $132.00 price target (up previously from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Canaccord Genuity Group downgraded shares of Intra-Cellular Therapies from a "buy" rating to a "hold" rating and raised their price target for the company from $119.00 to $132.00 in a research report on Friday, January 31st. Mizuho cut Intra-Cellular Therapies from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $140.00 to $132.00 in a research note on Monday, February 24th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Intra-Cellular Therapies in a research note on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Intra-Cellular Therapies currently has a consensus rating of "Hold" and an average price target of $106.23.

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.