Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Position Boosted by Swiss National Bank

Swiss National Bank grew its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 8.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 185,500 shares of the biopharmaceutical company's stock after buying an additional 13,900 shares during the quarter. Swiss National Bank owned 0.17% of Intra-Cellular Therapies worth $13,573,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new position in shares of Intra-Cellular Therapies during the 2nd quarter valued at approximately $56,000. Capital Performance Advisors LLP purchased a new position in shares of Intra-Cellular Therapies during the 3rd quarter valued at approximately $74,000. CWM LLC boosted its stake in shares of Intra-Cellular Therapies by 83.9% during the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company's stock valued at $94,000 after buying an additional 626 shares during the last quarter. Covestor Ltd boosted its stake in shares of Intra-Cellular Therapies by 40.4% during the 3rd quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company's stock valued at $133,000 after buying an additional 521 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Intra-Cellular Therapies by 9.1% during the 3rd quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company's stock valued at $181,000 after buying an additional 207 shares during the last quarter. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

Intra-Cellular Therapies Stock Up 0.3 %

NASDAQ:ITCI opened at $85.69 on Friday. Intra-Cellular Therapies, Inc. has a 52-week low of $58.14 and a 52-week high of $93.45. The firm has a market cap of $9.08 billion, a P/E ratio of -98.49 and a beta of 0.97. The business's 50-day moving average price is $79.25 and its 200 day moving average price is $74.76.

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

Insider Buying and Selling

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sharon Mates sold 40,513 shares of Intra-Cellular Therapies stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $73.58, for a total value of $2,980,946.54. Following the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $78,754,807.82. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,778 shares of company stock valued at $7,524,436. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ITCI shares. Royal Bank of Canada raised their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. UBS Group reduced their price objective on Intra-Cellular Therapies from $83.00 to $79.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. The Goldman Sachs Group reduced their price objective on Intra-Cellular Therapies from $77.00 to $74.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Finally, Morgan Stanley raised their price objective on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $97.23.

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.